Open communication on the downsides, benefits, and educational programs could assistance to increase trust in cryptos and create a positive outlook towards technologies such as blockchain.

Those were the findings in Edelman's study published on May 12. The global communications firm concluded that the more people know about crypto, the more they see the potential for the positive impact they can have.

The written report says that 35% of people surveyed believe that blockchain and cryptocurrencies like Bitcoin (BTC) could have a positive effect as emerging technologies.

Widespread lack of communication?

Speaking with Cointelegraph, Javier Pastor, primary sales officer for Spain-based crypto exchange Bit2me, agrees with Edelman's conclusions.

Pastor cites internal research conducted by the exchange on what are the needs of people inside the crypto community, revealing that 51.i% of respondents believe that they consider education as a disquisitional factor for crypto adoption.

Bit2me's CSO added the following:

"Definitely when nosotros talk virtually cryptocurrencies, we still continue to meet widespread ignorance towards them. The specific purpose of cryptos is not reaching the community clearly, precisely because of the lack of communication. I think one of the secrets or pillars of crypto adoption is to educate institutions starting time, in schools."

On the other hand, Guzman Pintos, co-founder and caput of growth at Luxor Mining, believes that there are some crucial factors to accept into account when addressing this issue:

"I believe that the 2 principal drivers in cryptocurrency adoption over the next few years are going to be the increasing number of cyberspace users worldwide and increasing transparency through regulation."

Crypto companies' responsibility for increasing didactics

Pintos adds that, as crypto companies, they need more than to build a robust ecosystem past creating sensation, open-sourcing code, fostering audits, and "most chiefly, double-down on education" to see more international players participate in the space.

In comments to Cointelegraph, Daniel Quiroga, Edelman Colombia'due south Vice President of Public Affairs, highlighted another of the challenges that fintech companies face in the midst of the COVID-ten crisis, including the crypto sector:

"At the Edelman Trust Barometer, the world's largest trust written report, we plant that before the pandemic crisis, trust in companies and CEOs was reaching levels non seen before. [...] However, the crisis due to COVID-19 implies new challenges for companies, since consumers look them to suit to the electric current situation and will punish those brands that deed indifferent to the situation."

Studies on cryptos and blockchain perception among the public

In other studies related to crypto adoption, last twelvemonth Cointelegraph reported research that revealed that 2% of Americans trust Facebook's Libra more than than Bitcoin.

A study past Juniper Research revealed that there is an increasing belief that blockchain technology will significantly reduce food retailers' costs by streamlining supply chains.