Genesis mining survey indicates many Americans are against a US backed CBDC

Quick take

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• The Genesis mining crypto company recently released a study that indicated the majority of people in the United States are actually against the introduction of a central-bank digital currency. 

• Out of 400 people who were involved in the survey, less than 25% of them agreed to the proposition that the government should completely abandon cash and replace it with a digital dollar.

The Genesis mining crypto company recently released a study that indicated the majority of people in the United States are actually against the introduction of a central-bank digital currency. Out of 400 people who were involved in the survey, less than 25% of them agreed to the proposition that the government should completely abandon cash and replace it with a digital dollar. More than half were opposed to the idea.

Interestingly though, more than 85% of the people who responded to the survey were familiar with cryptocurrency but unfortunately, many of them associate these kinds of assets with criminal activity which was more than likely a big reason for people not being supportive of a CBDC in the US.

Throughout the COVID-19 pandemic, many governments have been doing a thorough amount of research into CBDCs and the risks and benefits that they have. China seems to be the first country to be releasing one but the Bahamas are also planning to release one in October so the outcome of that will certainly be interesting.

You can see the survey here.

It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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