PlugnMine - The Future of Finance?

12, Nov

The Future of Finance?

With the US 2022 midterm elections still in the balance, economic issues have dominated recent discussions and anticipated voting behaviour. Against this backdrop, a national survey found there's a new topic concerning the economy that is becoming increasingly salient with the electorate: cryptocurrency.

The results from the survey, conducted by Grayscale in partnership with The Harris Poll, show that crypto presents a rare opportunity to bring voters together in support of bipartisan legislation that will benefit American investors across the board – from those who are unbanked and using crypto to access the global financial system to those who seek to have crypto in their retirement accounts.

The survey found that more than half of Americans (53%) agree that “cryptocurrencies are the future of finance,” including 59% of Democrats and 51% of Republicans. Not only do both Democrats and Republicans believe that cryptocurrency is an issue that is growing in importance, but they also agree on the need for appropriate regulation.

Nearly four in five Americans consulted (79%) feel there needs to be clearer regulation of cryptocurrency – with support from Democrats (87%) and Republicans (76%).

Finally, and perhaps most importantly, voters view cryptocurrency as a path to a more equitable financial system. The survey found that over half of adults (56%) say that innovations in finance that rely less on banks/financial intermediaries (e.g. cryptocurrencies) will create a more equitable economy (by allowing more people to access the global financial system).

There is broad consensus about cryptocurrency's growing importance.