US Coinbase: “Blockchain technology could save 11 trillion yen in credit card fees annuallyâ€
“Making the financial system low-costâ€
Coinbase, a major U.S. cryptocurrency exchange, said on the 7th that U.S. consumers could save at least about 11 trillion yen ($74 billion) in card fees by using blockchain technology. said. This is an analysis targeting 2022.
For each household, this translates to an average annual savings of approximately 89,000 yen ($600). In addition, merchants such as stores were spending more than 19 trillion yen ($126 billion) on credit card transaction fees, but using blockchain technology, this could be done at a much lower cost. He continued.
The report was conducted as part of the 2023 State of Crypto Report. Coinbase says:
Our poll shows that at least three in five Americans want the financial system to be updated to be cheaper, faster and more easily accessible.
The main reasons they see potential in cryptocurrencies are ease of use, affordability, streamlined, fully digital, and unrestricted nature of traditional systems. This is consistent with their hopes for improving the financial system.
connection: “Downward pressure on virtual currency prices is starting to weaken†Coinbase Weekly Report
Younger generation is positive about virtual currency
Coinbase conducts various awareness surveys in its “State of Crypto Report.†The results showed that younger generations are more positive about virtual currencies.
As for the research method, in collaboration with Bovitz, we conducted a survey in 2023 of 1,000 Americans aged 18 and older and interviewed 30 American adults aged 18 to 59.
Additionally, the company collaborates with multiple companies to conduct awareness surveys, including a survey of 2,065 university and graduate students in collaboration with Morning Consult.
Only 9% of Millennials say the current financial system works for people like them. Additionally, while 33% of all respondents said that politicians and policymakers should support virtual currencies and blockchain, this was higher at 44% of millennials.
Additionally, 31% of respondents (31%) said cryptocurrencies and blockchain will increase economic opportunities in ways that traditional finance cannot, compared to 42% of millennials.
The term “millennial generation†generally refers to the generation that entered society after the arrival of the millennium around 2000, and refers to the generation born from the early 1980s to the mid-1990s.
Ron DeSantis and Vivek Ramaswamy, who are known for supporting cryptocurrencies, have dropped out of the race for the Republican nomination for the US presidential election, leaving Donald Trump as the leading candidate.
Mr. Trump has made money by selling NFTs (non-fungible tokens) with his own motif, but he has expressed skepticism about virtual currencies such as Bitcoin (BTC).
Anthony Scaramucci, founder of major US hedge fund SkyBridge, called on the crypto community to support incumbent Biden in the presidential election. In the long run, Trump claims he will wreak “havoc on the legal system.â€
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