APAC and Latin America most optimistic about crypto, says Ripple report

What 

In Ripple’s latest report on crypto trends, researchers found that respondents from Asia Pacific and Latin America were generally more optimistic about the value of blockchain and its tokens than other regions around the world

Why 

More than half of consumers surveyed said they are more likely to transact with a goods or services provider who accepts crypto as payment. “Again LATAM, MEA and APAC lead the way here,” researchers noted

What next 

The impact of blockchain and its tokens will be massive in the coming years, Ripple said, but there remains work to be done in terms of accessibility and regulation 

The story 

Whether it’s buying NFTs, transacting with crypto, or their general view of crypto, respondents from Latin America and Asia Pacific regions were the most positive of regions surveyed in the New Value report by Ripple. Respondents from the Middle East and Africa (MEA) and North America trailed the above regions in their optimism towards blockchain and crypto, and European respondents were found to be the most conservative in their answers.

These findings are based on a global survey of thousands of finance leaders, individuals and blockchain developers across 22 countries. 

The report also highlighted business trends in the crypto space, with researchers finding that institutions saw particular value in crypto for portfolio management and payment uses. Other use cases include the tokenisation of assets and capital management in the DeFi space, but these are “not yet widely pursued,” according to the report. 

Source: Ripple

The report is generally upbeat about the future of blockchain technology and cryptocurrencies. “We have called this emerging, blockchain-driven landscape the Internet of Value, because it is doing for value what the internet did for information: creating a vast, decentralised network that is driving incredible new efficiencies, powering amazing new capabilities, and spawning whole new industries.”

To learn more about cryptocurrencies, take a look at our learning resource.

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