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Bitcoin Survey Suggests Bright Future For Cryptocurrency

By September 11, 2018 No Comments
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Bitcoin’s price could be about to experience a boost after it was discovered that American students are twice as likely as the country’s average to own the cryptocurrency. This discovery was made after a survey which was made and carried out by Coinbase and Qriously.
Close to one in five students in America who responded to the survey said that they own or have at some point owned bitcoin or another digital asset. This is twice as much as that of the general population which suggests that the ownership and adoption of bitcoin could be about to increase.
Students have proven to be good indicators of cultural and technological change. Facebook which is now the world’s biggest social network was only open to students in its early phase and found mass adoption among the younger population before experiencing the same in the older segments.
Another example can be taken by observing how the internet was used back in the 80s. It was predominantly used by students and universities to share research before being commercialized. Of all the students who took part in the survey, 17% said they think their knowledge of cryptocurrency and blockchain was very good compared to 9% of the general population who were asked the same question at the same time. However, the survey comes on the back of Coinbase’s CEO suggesting just earlier this month that commercial adoption of bitcoin for payments could end up taking quite some time.
This survey does, however, fall in line with a paper written by researchers at Imperial College London in July who predicted that digital currencies are set to be adopted by masses.
According to this report, bitcoin and other digital assets will hit the mainstream as a means for paying for goods and services inside the next ten years, just as many of those who were surveyed by Coinbase enter the working world.
One in four who were surveyed by Coinbase said that they would certainly take a course on blockchain or cryptocurrency. Universities are moving fast to satisfy this demand.
According to Coinbase, when David Yermack, the finance department chair at NYU’s Stern School of Business, initially offered his course on blockchain and financial services four years ago, 35 students enrolled, 8 fewer than the school’s typical elective.
By Spring of this year, the number of students who had signed up for the same course had jumped up to 230 and this forced Stern to move the class to its biggest auditorium. Coinbase found that over 40% of the best 50 universities around the world offer at least one class on cryptocurrency or blockchain and over 20% offer more than just one.
Blockchain and cryptocurrency classes are more popular and present in the US, it must be noted. Less than 30% of the 18 international universities on the list offers at least one class on the topic. Only two – the Swiss Federal Institute of Technology Zurich and the National University of Singapore – offer in addition to one.
Coinbase reviewed course catalogs at the best 50 universities in the world and found classes in cryptocurrency across various departments including finance and anthropology, thereby proving that the courses were not limited to computer science.
In fact, the increase in offerings across disciplines can be mapped to student interest: students with a varying set of majors said they would be inclined to taking cryptocurrency classes. Almost 50% of all social science majors said they’d be open to signing up for a crypto class. Meanwhile, the bitcoin price made a recovery this week by climbing above the all-important $7,000 mark.

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