from the ECC Team

In a recent study by ECC of crypto developers, holders, and industry experts, 62.1% of participants predicted a cryptocurrency will be the world’s primary currency within 20 years. The specific cryptocurrency that may hold this designation was not discussed. The results of the study are below.

Results by percentage of Question 11 from the WWSS Survey

Another interesting statistic is that a mere 5.2% of total participants predicted that a cryptocurrency will never become the world’s primary currency. This may help put temporary crypto dips into perspective.

The study, entitled, “What Would Satoshi Say?” consists of 21 questions about the current and future state of cryptocurrency. While each question includes multiple choice selections, open ended responses are also encouraged.

Outspoken crypto advocate John McAfee gave the following open ended answer to the question of crypto becoming the world’s primary currency,

“…fiat currency is going to die. This is it!”

One of the founders of the credit card processing machine industry predicted that this transition would take more than 50 years. Other noteworthy open ended responses include:

“Rather than answer in years, look for the following trajectory as outlined by Nick Szabo: Collectible, Store of Value, Medium of Exchange, Unit of Account. As of 2018 we are still in the Store of Value stage.” — WWSS Study Participant “The important thing is not how long it will take, but that it stay in the hands of the individuals and not be hijacked by the very people we are trying to take the power away from. Therefore, we should be patient and mindful about how we go about implementation.” — WWSS Study Participant “I don’t think there will be ‘a cryptocurrency’, but many, as they can work on various levels; i.e. schools, uni’s, hospitals, local businesses, individuals etc. in villages, towns and cities around the world can all have their ‘own’ blockchain cryptocurrencies. The ‘bigger players’ such as Bitcoin, will become more adopted in mainstream payments systems, whilst the much smaller one’s could still thrive and survive.” — WWSS Study Participant

A breakdown of study participants by role is below:

Results by percentage of Question 3 from the WWSS Survey

The full results of the study will be published in an eBook to be released later this year. The study is still open. If you’d like to participate, please click here.

Cryptocurrency awards will be given for top open ended answers.

Cheers,

Kevin (@ECCbuddha)