Paxos surveyed a total of 400 executives from US companies with a substantial client base of at least 5 million individuals and managing assets worth a combined $50 billion. The study found that these companies have a deep interest in digital assets and blockchain technology, with an overwhelming 99% of financial giants now paying significant attention to these latest technologies.
However, despite the eagerness to integrate blockchain and cryptocurrencies into their business processes, many companies are facing obstacles along the way. Approximately 56% of the survey participants stated that the difficulty of implementation is hindering them from launching a cryptocurrency solution.
Mastercard’s CEO, Jonathan Anastasia, revealed that his company has been able to overcome some of these challenges by collaborating with local crypto firms to navigate the complexities associated with cryptocurrencies.
Market volatility was identified as the primary obstacle to participation in cryptocurrency and blockchain projects by 51% of the respondents. Additionally, 43% of entrepreneurs expressed concerns about the financial costs involved, while only a mere 2% indicated a lack of faith in the benefits of blockchain technology.
A separate survey conducted by cryptocurrency exchange Coinbase and Morning Consult analysts in February indicated that 76% of Americans who own cryptocurrencies have a positive outlook for the future of blockchain and digital assets.