A recent report released by ING reveals that Europe is witnessing a considerable collapse in cryptocurrency adoption.
Barring a few European countries, which include Turkey, Poland, and Romania, cryptocurrencies are unable to make an impression on the people of Europe.
The study takes into account twelve countries from Europe as well as the United States and Australia. Not only did the survey respondents expressed incredulity but also regarded cryptocurrencies, including Bitcoin, with wariness when questioned over their potentiality in transforming economies in the near future.
Is cryptocurrency adoption biting the dust?
Among the nations that have demonstrated lack of heed towards Bitcoin and its potential impact on the financial systems, the sentiments in Austria have taken the maximum hit. With a meager thirteen percent (13%) of survey takers, as opposed to twenty percent (20%) last year, responding in favor of Bitcoin and significant cryptocurrency adoption in the foreseeable future, the country shows manifest indifference towards cryptocurrencies in general.
What is more perplexing is the fact that Bitcoin’s overall framework is primarily guided by the economic theory developed in Austria during the latter half of the 19th century. Moreover, the study also suggests that the cultural heart of Europe is home to the most number of people conversant with Bitcoin and other cryptocurrencies when compared with other European Union nations. Read More at Cryptopolitan...