Global survey indicates Bitcoin is perceived as more secure than some local currencies
Premise, the platform that democratizes the way actionable data is sourced and used, released data and findings on the global perception of blockchain technology . The most striking finding — that a substantial percentage of survey participants trust Bitcoin (BTC) more than they trust local currencies — reflects a growing acceptance of decentralized digital currencies.
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Premise’s initial survey began running on August 30th and has polled approximately 11,000 participants in 76 countries. The data was gathered from thousands of paid smartphone users through the Premise app at a speed and scale not traditionally seen in polling.
With a massive subset of the global population not having a traditional bank account, the results revealed breakthrough insights around local currency versus BTC. Here are some of the most relevant findings from the survey:
- 41% of respondents perceive BTC to be more trustworthy than their local currency
- 33% of respondents perceive BTC to be more secure than their local currency due to the decentralized nature of the blockchain
- 23% of the Premise Contributor base has cashed out and received payment in BTC on the Premise app
- Of those who were paid out in BTC, 46% say they converted it to local currency:
- 41% say they held onto their Bitcoin
- 13% say they used it as a medium of exchange for goods and services
- 26% of respondents say they prefer using BTC over their local currency
- Of those who have not cashed out in BTC, 30% say it is because they do not know about cryptocurrenc
- 23% have not cashed out in Bitcoin because they prefer their local currency
- 13% have not cashed out in Bitcoin because they do not trust it
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“Premise is committed to providing financial opportunities to the unbanked and to those generally excluded from traditional financial services,” said Maury Blackman, CEO of Premise. “Through crowdsourced data, we learned about the stark differences in how local currency and cryptocurrency are perceived globally. We will continue to run this survey to track the evolving understanding of cryptocurrency and will continue to be a leader in this space.”
More than 1.7 billion adults worldwide are considered “unbanked.” Transacting with Bitcoin allows people who don’t have access to traditional banking services to participate in all economies. Premise is one of a small handful of global organizations providing BTC as a payment option.
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