Arecent report from Kaspersky has to state that many people are not yet ready toadopt cryptocurrency. There are morethan 1500 cryptocurrencies already on the internet. Facebook has not thrown its hat into thecryptocurrency ring.
Kasperskyhas studied customer attitude, and they have surveyed more than 13,434 peopleand in nearly 22 countries during October and November. Bitcoin is the most notable of all thecryptocurrencies. The cryptocurrency hastouched upon the market capitalization of $100 billion. This is nearly 6.9 million INR. About 84% of the users have never purchasedthe cryptocurrency. About 35% of thembelieve that the cryptocurrencies are a fad. This is because of the unproven status and volatility of thecryptocurrency.
Therewas a great “crypto crash” in the year 2018. This was a point a time when Bitcoin did lose more than 65% of itsvalue. There were other digitalcurrencies which were going through similar falls in the price pattern. There are only 19% of them who use it formaking their online payments. There were15% of the users who were victims of the digital currency scams.
Justlike JP Morgan, Goldman Sachs might as well launch their cryptocurrency.
DavidSolomon, CEO of Goldman Sachs, stated that they are into a lot of researchconcerning the concept of "tokenization."
Solomonstated that he has a lot of belief on the potential of the blockchain basedcryptocurrency, thereby making way for frictionless cross-border payments. However, Goldman Sachs just like JP Morganbelieves that real fiat currencies should back the money.
Thereis likely to be a definite change shortly. Solomon further added, "I think regulators around the world arewatching what’s going on. They wonder how it will work and are veryattentive to payment flows. There will be a change in regulation, that’sfor sure.”
Solomon also stated, “Many people are looking in thisdirection. But it is too early to say which platform willprevail. Whether [Facebook] is this platform or one of the other fiftythat people are watching that will make the most progress, I cannot tell you.”
When it comes to banks willing to join the cryptocurrency race,Solomon opines that banks should be innovative failing which they mightdisappear altogether.
However, the new people talking about their venture into thecryptocurrency space will take a lot of time to materialize. And they are veryfar from the launch.
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