Cininbase, established in the US, has commissioned a study to understand how people in Argentina, Kenya, the Philippines and Switzerland see crypto and blockchain technology as a means to improve the financial system of their country.
The studyExecuted by market research and consultancy firm Ipsos, shows that the majority of adults in all four countries believe that the existing financial system in their country needs changes or a complete revision.
But most participants think that crypto can help with their financial worries, including the centralization of the financial system, the lack of honesty, the changing value of the currency of their country and the problems in earning and saving money.
“Adults in the countries investigated are of the opinion that new technology should be used to update the financial system – and turn to crypto as a solution, in which more than seven in ten agree that crypto at least one of their financial frustrations can tackle. ”
In Kenya, where more than 10% of the population owns cryptocurrencies, 94% of adults see crypto as a solution to update their country’s financial system.
This opinion is shared by 81% of people in the Philippines and 76% of people in Argentina.
More than 80% of Filipino crypto owners believe that crypto can make their financial system cheaper and 90% think that crypto will make the system faster.
Among the Argentinian crypto owners, more than 80% think that crypto can help grow economy, promote innovation and give people more control over their finances.
People in Switzerland are the least optimistic: only 67% of Swiss believes that crypto and blockchain can solve at least one of their financial frustrations.
“Even in the land of watches, chocolate and banker talent, tradition is not sacred. Only about one in five believes that their generation will be better than their parents, which arouses the growing interest in the potential of crypto to supplement their gold standard financial system – and not to disrupt. ”
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