Race to the digital currency
11/14/2019 | editor: Peter Schmitz Are crypto-currencies a way to pay quickly and cheaply on the Internet, or are they primarily speculative for financial jugglers? German citizens see both the advantages and disadvantages of digital currencies such as Bitcoin, Etherum & Co.This is the result of a representative survey commissioned by the Bitkom Digital Association.
Companies on the subject “In the future, we will have crypto-currencies that will not be more complicated to manage than traditional currencies – in case of doubt, they will be easier,” said Patrick Hansen, head of blockchain at Bitkom.The Bitkom survey shows that two-thirds (68%) have already heard of crypto-currencies, which is a little more than a year ago (64%).A clear majority (62%) complains that crypto-currencies are only speculators given price fluctuations.However, about every second indicates that crypto-currencies will allow faster (56%) and cheaper (51%) transfers of funds and will further facilitate the payment of small amounts on the Internet (49%).”The rapid development of Bitcoin has resulted in a large coverage of cryptocurrencies, but it has also shown that crypto-currencies look like gambling, which makes you rich quickly but can also make you lose a lot of money,” he said.
said Patrick Hansen, manager of Blockchain in Bitkom.”Crypto-currencies offer many opportunities, such as the Internet of Things, and in the medium term we will also see widespread digital currencies, be it the Swedish krona, the e-euro, or maybe to be a project sponsored by a consortium such as Libra.” Cryptocurrencies are still considered complicated In addition to strong price fluctuations, another major criticism concerns the difficult treatment of cryptocurrencies.For example, 6 out of 10 respondents (61%) who have heard about cryptocurrencies say they do not use them because they are far too complicated.More than one in seven (15%) would like to use cryptocurrency directly in their email to pay bills or transfer money to friends.”In the past, crypto-currencies were heavily technology-oriented, and in the future we will have crypto-currencies that will not be more complicated to manage than traditional currencies – if in doubt, it will be more easy, “said Hansen.
Race to the digital currency Until now, there is a wide variety of cryptographic currencies with strong price fluctuations that are incompatible with each other.A consortium around Facebook, among others, wants to establish a new cryptocurrency called Libra, which is linked to traditional currencies and government bonds and whose value does not vary so much.However, convincing work still seems necessary for such a project.For example, 60% of those who have heard about cryptocurrencies fear that this will make large technology companies more powerful.
And every second (51%) is of the opinion that only central banks should issue currencies.Hansen: “Libra is a wake-up call for central banks and financial regulators around the world, and the opportunities and challenges of so-called stable coins, such as Libra, but also digital currencies at home.States are being discussed at the highest level.Today, EU Finance Ministers want to talk about the possibilities of a digital euro.We are currently living a race for digital currency .” About the survey: The basis of this information is a survey conducted by Bitkom Research on behalf of Digitalverband Bitkom.
1,004 people aged 16 and over were interviewed by telephone in Germany.The survey is representative.
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