A survey of 950 participants from 45 countries, including analysts and CEOs, was conducted by Ripple to assess the potential of blockchain technology and cryptocurrencies for faster and cheaper payments.
25 questions about the use cases and benefits of blockchain payments, the ownership of digital assets, and existing barriers were asked.
97% of respondents agreed that cryptos and blockchain tech will have an important role in enabling faster and cheaper payments over the next three years.
52% expressed their intention to expand their product line to include digital assets, and 56% predicted that most merchants would accept cryptocurrency transactions by 2024.
However, 89% of respondents cited lack of regulatory clarity as a major obstacle. In the Middle East and Africa, 27% of managers indicated that they expect to see mobile payments with support for cryptocurrencies and the development of CBDCs in the next 12 months.