41% of People Worldwide Trust Bitcoin Versus Local Currencies

Premise, the platform that democratizes the sourcing and use of actionable information, has provided statistics and results on the current worldwide impression of blockchain technology. The most startling conclusion — that a significant proportion of poll respondents trust Bitcoin (BTC) more than local currencies — suggests a greater acceptance of decentralized digital currencies.

Premise is an analytics startup that leverages crowdsourcing data. Our platform leverages communities of worldwide smartphone users to gather actionable information in real time, at a low cost, and with the transparency you require.

We discover Data for Every Decision in over 125 countries and 37 languages. Premise’s inaugural survey, which started on August 30th, has gathered data from around 11,000 respondents in 76 countries. The data was collected at a rate and scale previously unheard of in polling from thousands of paying smartphone users using the Premise app.

With a substantial portion of the worldwide population without access to regular bank accounts, the findings offered ground-breaking data about local currency vs Bitcoin.

The following are some of the survey’s major significant findings:

• 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

“Premise is devoted to expanding financial possibilities for the unbanked and people who are normally excluded from conventional financial services,” Premise CEO Maury Blackman stated. We discovered striking variations in how local money and cryptocurrencies are regarded internationally using crowdsourcing data. We will continue to conduct this study in order to monitor the growing public perception of cryptocurrencies and to maintain our position as a market leader in this field.”

Worldwide, almost 1.7 billion individuals are deemed “unbanked.” Bitcoin transactions enable those who lack access to conventional financial institutions to engage in all economies. Premise is one of a select few worldwide organisations that accept Bitcoin as a form of payment.