Published: 30.03.2022
Article reading time:
2 minutes.
An analyst at Morning Consult believes that the lack of innovation in the traditional financial system may push the study of DeFi and Web3.
Charlotte Principato has published the results of her research on American attitudes towards crypto-related products and services that are shaping the future of US financial services.
During the study, from February 16 to February 23, 2022, 4,404 adult citizens of the country were interviewed.
Principato claims that among Americans who are not users of cryptocurrencies, less than 30% of respondents said they understand government digital currencies. Among the respondents, they know even less about Web3 – only 21%.
The report states that of the 91% of respondents who have heard of cryptocurrencies, only 19% are owners of digital assets.
According to the author of the study, cryptocurrencies are no longer a minor asset. Financial service providers of all types, from JPMorgan Chase to Venmo, are already offering or looking for ways to provide crypto-currency services to customers. Principato believes that by helping to popularize (or support) the adoption of cryptocurrencies, these companies bring consumers closer to DeFi and Web3.
40% of respondents agreed that existing traditional financial services lack innovation. 66% of respondents are looking for an opportunity to expand access to financial services.
Principato emphasizes that cryptocurrencies are now mainstream, and studies show that owning such an asset leads to awareness of DeFi and Web3.
The analyst is urging big players in the financial services market to start tracking these changes as cryptocurrencies should further change the way consumers view their finances and financial service providers.
In 2022, Morning Consult analysts published the results of a study from which it follows that almost one in four adults in the world owns digital assets.
Source: Bits
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