Executives from the financial world expect that cryptocurrencies could completely replace the euro, the dollar and Co.in five years.

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“A new age of digital assets”

A new survey of financial executives paints a more than optimistic picture for cryptocurrencies. Because: The bank managers assume that digital assets such as Bitcoin( to buy from eToro or Libertex) or Ethereum can replace “conventional” currencies such as the US dollar or the euro within the next five to ten years. A “seismic” change is underway.

The survey was conducted by the British financial company Deloitte. This usually provides services in the areas of auditing, risk advisory, tax advisory, financial advisory and consulting for companies and institutions. Now it has devoted itself in detail to cryptocurrencies. In the” 2021 Global Blockchain Survey “(subtitled” A New Age of Digital Assets”), Deloitte’s financial experts are now focusing on the prospects of the crypto industry.

Deloitte:

“The spread of the digital as a medium of exchange and store of value has expanded significantly, particularly affecting the global financial services industry (FSI), which has recently been further challenged by new business models around digital assets.“

Accordingly, the opinions of the bank managers also fall out. Thus, 76% of the surveyed financial experts believe that Bitcoin and cryptocurrencies can replace fiat in a maximum of ten years. 81 Percent believe that blockchain technology has already established itself in the mainstream. 73 Percent believe that without blockchain and crypto assets, companies will lose the chance of a competitive advantage. And 80 percent believe their respective industry could benefit from crypto solutions.

Chart of crypto market Capitalization: Currently at $ 2.1 trillion-and on its way to its previous peak. Source: Coinmarketcap.com

The conclusion of the investigation:

“Banks are currently at the forefront, but are in a state of constant change as capital markets focus on digital assets. The seismic shifts we are experiencing will affect any business that uses a bank in the short and long term. The future is happening right now.“

You can view the entire survey here.

Numerous Studies Confirm Crypto Growth

Various studies confirm the rapid growth of the crypto industry – and the growing acceptance among the population. Blockchain data provider Chainalysis, for example, reports 880% global growth in a recent crypto report. The number of Bitcoin users is also growing faster than ever before: Around 1.2 million new users were added between July and August, comments on-chain analyst Willy Woo.

In the meantime, well – known credit institutions often express themselves positively about Bitcoin-and the prospects of the crypto industry. The US investment bank Goldman Sachs, for example, has found in an investigation (“Family Office Investment Insights”): Almost half of all 150 family offices surveyed intend to invest in cryptocurrencies. “Family Office” refers to companies that manage the large private assets of a family of owners.