More and more financial institutions are aware that blockchain is revolutionizing the way assets are managed. Indeed, thanks to this technology, funds are better transferred, stored and recorded. Ripple was able to demonstrate this through a study that was conducted to assess the adoption of digital assets around the world. Among other things, the study allowed him to calculate the percentage of financial institutions that want to use blockchain for payments.
Adoption of cryptocurrencies for payments
According to tweet by Watcher.Guru on August 11, a recent Ripple report revealed that “70% of financial institutions are interested in using blockchain technology for payments“. Indeed, Ripple has surveyed several companies according to which blockchain technology is a guarantee of data security and quality. They believe that these two main advantages make cryptocurrencies suitable for payments.
In recent years, many companies and countries have developed public and private blockchain-based currencies. Individuals have also entered this field, understanding the entrepreneurial opportunities it offers. All over the world these players understand this cryptocurrencies are a whole new financial industry which is full of future.
So, we are in a context where more and more individuals and entities are investing in the crypto market. Traditional financial institutions realize that they too must enter this sector in order to remain competitive. In addition, they are considering bringing more security to the field to reassure skeptical investors.
Despite the controversy surrounding cryptocurrencies and blockchain technology, many individuals and entities recognize their utility. As evidence, 70% of financial institutions would like to use blockchain technology for payments. This percentage shows that cryptocurrencies are increasingly being adopted around the world.
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