Survey: 1 in 4 Senior Executives in Uruguay Have Used Cryptocurrencies

A survey made in Uruguay across different business sectors revealed that 24% of the 49 senior executives (1 in 4) from companies in the country claimed to have used cryptocurrencies at any point in their lives.

Senior Executives in Uruguay Reveal Their Level of Knowledge on Cryptocurrencies

According to the consulting firm Price Waterhouse Cooper, the survey was conducted to measure the knowledge on crypto assets among senior executives from the sectors of banking and finance, technology, public services, industrial products, and public administration in Uruguay.

The results revealed that 76% of the surveyed executives claimed to have not crypto assets nowadays.

Among the data gathered by the firm include that 42% of people interviewed obtained cryptocurrencies by acquiring them from other people, 33% of them from exchanged, and 25% got them as a result of crypto mining.

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Still a Widespread Lack of Blockchain Knowledge in the Country

Price Waterhouse Cooper detailed in its study what are the main risks that surveyed executives pointed out when asked about their reluctance to use cryptocurrencies:

43% of executives who did not have cryptocurrencies affirm that the main barrier responds to the risks linked to this asset class. The main risks are volatility, cybersecurity, and operational risk in handling private keys. The second reason (24%) is the lack of knowledge of how to acquire them, despite having an interest in doing so, followed by the absence of regulation and insufficient interest, both with 16%.

On stablecoins, the survey unveiled that 1 in 2 (73%) executives will use them as exchange money when making a purchase, as they see such assets as a safer way to handle crypto assets in the midst of a volatile environment that cryptocurrencies show.

Other of the survey findings revealed that 69% of the participants forecast that in five years, they’ll be able to use digital assets backed by the governments. Still, 70% of the executives believe they need more information to get familiar with blockchain to adapt their companies’ processes to the emerging technology trends.

What are your thoughts on the survey’s findings? Let us know in the comments section below.

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