Do you think crypto adoption is slowing down? Deloitte, one of the world’s leading consulting firms, has published data that shows this not to be true. The research was done with the collaboration of PayPal.
About 75% of United States merchants would be ready to accept crypto payments within the next two years, according to the company’s reports. It is a very high percentage, which tells us that the adoption of crypto is going very fast even in the so-called real economy.
The report states:
“Although digital currency payments may not yet be an everyday occurrence for the average customer, overall interest in digitally native solutions is significant, especially among younger generations. It’s a sign to retailers that those that fail to embrace the customers’ demand of this trend run the risk of being left behind and losing out on profits”.
It then continues:
“Survey respondents are very optimistic about digital currencies in the consumer market, reporting broad agreement that accepting digital currency payments is already a point of differentiation, and are expected to see broad near-term adoption”.
This is the crypto revolution—at least in the U.S. We are facing a time of great change, both for Bitcoin and for the rest of the crypto market, and this is not just the enthusiasts and investors saying this, but one of the biggest consulting companies in the world. The recent report released by Deloitte didn’t only explain that about three out of four merchants in the US are going to begin accepting crypto payments within the next 24 months, but also that the largest retailers (those with incomes over 500 million) are already investing in new technology that would allow this kind of payment without difficulties. We are living in an absolutely incredible time, a historical moment that few people could have imagined even a few months ago.
This year we already saw a few spot transactions, such as luxury companies accepting crypto in selected stores in the U.S., as well as we saw Strike’s big effort, which was announced during the last Bitcoin Conference. And now, according to what is reported by Deloitte, this whole industry might take place with more organized operations.
Again, according to Deloitte, there would be several sectors involved: from clothing to electronics, gardening, accommodations, and even the transport industry. Thus, this revolution should not really leave anyone out.
Among those who participated in the study is PayPal, a company that has long since integrated cryptocurrencies into its platform in the U.S., and which only recently reinvented its model by allowing its customers to seamlessly transfer cryptocurrency in and out of the platform.
Of course, PayPal has an interest in crypto spreading since it is the group that was the most responsive from the very beginning in following the developments of this particular revolution. We will see whether the indication provided by the Deloitte and PayPal surveys will actually result in growth in adoption rates since it has been one of the most successful responses. What is certain is that the data is impressive, and if confirmed by real engagement of the business community, they would represent another big step forward for the industry.