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Read on to see what Alison McCauley, founder and CEO of Unblocked, has to say about the cryptocurrency results from our Future of Money Study.
This latest Logica Research Future of Money Study reported that more than a third of consumers (from a sample of 1,000 U.S. adults) believe they are somewhat to very likely to own cryptocurrency in five years, and that most (38%) believe it’s a currency like cash. These results are striking, given that cryptocurrency as a payment mechanism is not only very new and mysterious, but not yet functional for the average consumer. It is possible that all the attention on the space helped open minds, not close them.
The adoption of new payment mechanisms, so reliant on network effects, tends to move slowly. But the Logica Research study also found that consumers say they are more likely to pay in the future with something new that hasn’t been invented yet than they are to pay with Google Pay or Apple Pay. Could the rapid pace of digital innovation across consumers’ lives also be making them more receptive to innovation in the way they pay?
Lilah Koski, the CEO of Logica Research, clarifies, “All these newly introduced digital payment options have primed consumers to expect innovation. But their focus is not on the technology itself. They care about meaningful benefits. There’s a tremendous opportunity here for a payment method that provides features that consumers really care about—and clearly packages and communicates those benefits.”
Could the benefits of programmable money be powerful enough to sway the well-worn habits of hundreds of millions of consumers?
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