- Ripple made some research regarding the state and perception of the crypto industry. According to them, about 70% of finance leaders have confidence in the crypto industry.
- However, Ripple went further and discovered the factors behind the renewed confidence. Some of them include leveraging digital assets and tokenization of cryptocurrencies.
The parent company of ADA, Ripple, conducted in-depth research concerning the perception of the crypto industry. Apparently, this research targeted finance leaders to know what they thought of the industry. From Ripple’s research, more than 70% of finance leaders have confidence in crypto.
“Over 70% of finance leaders say their confidence in the crypto industry has increased in the past six months, with several factors driving this optimism,” Ripple said. Furthermore, some factors power the changing perception among finance leaders. Some of these factors are the tokenization of cryptocurrencies and leveraging digital assets.
Ripple Says Tokenization Will Drive Global Innovation
Many finance leaders believe tokenization will play a massive role in driving global innovation. The tokenization of cryptocurrencies will come in handy in many real-world applications and use cases. Some include usage in financial institutions such as public stock trading and private shares trading.
Furthermore, 82% of finance leaders believe cryptocurrencies’ tokenization will be useful in financial institutions. Also, 67% think crypto tokenization will be good for enterprises like the metaverse. Another 51% think same thing applies to events/experiences. Ultimately, 80% of these finance leaders said they expect to use crypto in their business in the next 3 years.
Finance Leaders in Support of the Blockchain
Many finance leaders believe the blockchain will be crucial in driving innovation in the crypto industry. Of course, it is! But many say the blockchain will play a huge role in crypto integration in many businesses.
Ripple’s research shows that many financial institutions want to incorporate crypto into their payment systems. However, they plan to do this using seamless and efficient blockchain technology. Furthermore, 86% of these financial leaders admitted exploring options for integrating crypto for cross-border payments. These leaders believe crypto will bring huge returns for their businesses.
Ripple Says Leveraging Digital Assets Crucial for Payments
Part of Ripple’s research shows businesses’ explicit feelings toward crypto payments. Apparently, some parts of the responses are a bit negative. However, it shows areas in which the crypto industry might improve on.
Leveraging crypto and digital assets is what many businesses would like to do, but they have issues. 27% think price volatility is crypto’s major downside for payments. About 20% said it was the unclear crypto regulations.
Conclusion
Ripple went on to carry out research, showing the perception leaders and businesses have towards crypto. Much of the research centered on blockchain, tokenizing cryptocurrencies, and leveraging digital assets. Many of the responses were positive, although there is room for improvement.
