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A survey in Uruguay across various business sectors found that 24% of 49 senior executives (1 in 4) of companies in the country claimed to have used cryptocurrencies at some point in their lifetime.

Senior executives in Uruguay reveal their level of knowledge about cryptocurrencies

According to the consultancy Prize Waterhouse Cooper, the survey was conducted to measure knowledge about crypto assets among senior executives from the banking and finance, technology, public services, industrial products and public administration sectors in Uruguay.

The results showed that 76% of executives surveyed claimed to have no crypto assets today.

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

Still a widespread lack of blockchain knowledge in the country

Price Waterhouse Cooper outlined in his study the key risks that the executives surveyed pointed out when asked about their reluctance to use cryptocurrencies:

43% of executives who did not own cryptocurrencies confirm that the main barrier is a response to the risks associated with this asset class. The main risks are volatility, cybersecurity and operational risk when dealing with private keys. The second reason (24%) is the lack of knowledge of how to acquire them despite being interested in them, followed by the lack of regulation and insufficient interest, both at 16%.

As for stablecoins, the survey revealed that 1 in 2 (73%) executives will use them as change when making a purchase as they see such assets as a safer way to handle crypto assets in the middle of a volatile environment showing cryptocurrencies.

Other survey findings showed that 69% of participants predict they will be able to use digital assets backed by the government in five years. Still, 70% of executives believe they need more information to become familiar with blockchain to adapt their company’s processes to the emerging technology trends.

What do you think of the findings of the study? Let us know in the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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