The BSV Blockchain Association recently published its inaugural BSV Blockchain Barometer report. The report, which will serve as an annual benchmark for the industry, derives insights to help inform the Association’s approach to promoting education and driving adoption.
The report was based on the findings of a survey of 13,000 people in conjunction with YouGov. The respondents were based in the U.K., Spain, Germany, France, Sweden, and the United States.
The findings uncovered shocking gaps in tech trust and awareness, underscoring the need for better education and transparency.
Key findings from the BSV Blockchain Barometer Report
The report covered topics related to artificial intelligence (AI), Web3, the Metaverse, blockchain technology, and emergent technology generally.
Some of the key findings related to blockchain technology and digital currencies include:
- Men are >50% more likely to own digital assets than women. 28% of men have some digital currency or NFT, while only 12% of women do.
- 29% of German and 37% of Spanish respondents anticipate using blockchain technology in the next five years.
- Of all respondents, 71% had never heard of blockchain technology, while 59% admitted not knowing the similarities or differences between blockchain technology and digital currencies like Bitcoin.
- Generation Z is the most educated regarding blockchain technology and digital currencies. This generation also showed a broader trust in AI, Web3, and social media.
When it came to blockchain for industry and its benefits, respondents universally asked, “What’s in it for me?” 30% said understanding the benefits of blockchain would make them more inclined to use it, 28% said a better understanding of the technology itself would help, and 27% expressed the desire for a better understanding of how it is being utilized.
When predicting which industries would be disrupted by blockchain technology, 34% said finance, 26% predicted healthcare, and 19% thought the supply chain would be distributed most. 41% of respondents answered “don’t know.”
BSV Blockchain Barometer report summary
The report highlights that there’s still a long way to go before a widespread understanding of blockchain technology permeates throughout society. As with everything, understanding breeds trust, and people who trust technology are more likely to adopt and use it.
Overall, 60% of respondents could not explain blockchain technology, and the majority could not clearly differentiate between blockchain and digital currencies.
Clearly, the BSV Blockchain Association has its work cut out for it, but knowing where the gaps are is the key to developing educational materials to bridge the gap. The BSV Blockchain Barometer report is highly valuable in that regard.
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