A recent poll conducted by HSBC surveying 13 developing nations indicates that most citizens have not yet heard the blockchain technology, with only 41% of respondents indicating familiarity with low bitcoin technology.
The HSBC report adds to a growing list of the survey that indicates that Bitcoin and Blockchain technology is still its early years of development
A recent survey conducted by HSBC showed that 59% of consumers have not heard of blockchain technology. Of the 41% of respondents who were familiar with the technology under bitcoin, 80% said they did not know how the blockchain technology operated.
The survey asked 2,000 HSBC customers from the UK, in addition to 1,000 participants from Canada, China, France, Germany, Hong Kong, India, Mexico, Singapore, the United Arab Emirates and the United States respectively.
The HSBC report adds to the incremental list of surveys that indicate bitcoin and blockchain technology is still in the early years of development, with the adoption of the early majority still ready to be seen.
A survey conducted by the University of Cambridge this year determined that the current numbers of a unique active users in cryptocurrency is estimated between 2.9 and 5.8 million. Still representing 0.04 - 0.05% of the global population, this data indicates that the bitcoin user base has at least doubled in just two years. With such a small percentage of citizens actively involved in the bitocin community, 40% of citizens being quotients of blockchain technologies show the enormous growth potential of cryptocurrency.
Even the recent media coverage, most still unfamiliar with Bitcoin and Blockchain technologies
Monex, Inc., Tradestation Securities, Inc., and Monex Boom Securities (H.K) Limited conducted a survey this month that surveyed retail investors who had accounts with China, Japan, and the United States respectively. The result showed that only 3% of retail investors in Japan and the United States are actively investing in cryptocurrency, with 10% of Chinese investors reporting that they invested in cryptocurrency. 20% of retail investors based in China and the United States reported that they were not as familiar with cryptocurrency. Almost all Japanese respondents have heard of bitcoin and cryptocurrency, perhaps because of the highly publicized liberal campaign of legality around cryptocurrency.
Despite recent increases in media coverage of bitcoin, it will appear that most people are unfamiliar with bitcoin and blockchain technology. With surveys conducted in developed nations indicating that 59% of citizens are still unfamiliar with blockchain technology and only a small part monitored by retail investors are actively involved in the markets of Japanese, Chinese and US cryptocurrency, it seems that bitcoin It still has great growth potential.
Do you think that bitcoin is approaching an early massification, or bitcoin is still in its nascent years? Share your thoughts below!
Original Author: Samuel Haig