70% of Swing State Voters Think the Financial System is 'Outdated,' But Confidence in Cryptocurrencies is Low
According to a poll conducted in six “swing states” based in the United States, 70% of voters think the current financial system is “outdated” and agree it needs an update. However, most of these people think that cryptocurrencies are not a solution either. The research, conducted by the Digital Currency Group and the Harris Group, found that the majority of respondents think the current financial system supports elites over regular people. However, almost 75% think cryptocurrencies are no more fair than the current system. Only 41% of survey respondents agree that cryptocurrencies offer a new path to financial security and prosperity, while 35% believe cryptocurrencies are the future of trading.
A majority of voters in swing states in the United States think the current financial system is “outdated,” according to a poll by the Digital Currency Group. However, most of these people think that cryptocurrencies are not a solution either.
A study by the Digital Currency Group and the Harris Group asked 1,201 people in six “swing states” (a term that could be won by either the Democratic Party or the Republican Party across a state) to take part in the survey. 70% of respondents agreed that the current financial system is “outdated”, while 74% said the system needed an “overhaul”. However, only a third of respondents think cryptocurrencies can solve this problem.
Three-quarters of respondents think the current financial system favors elites over regular people, according to a report released May 7. However, almost 75% think cryptocurrencies are no more fair than the current system.
Only 41% of survey respondents agree that cryptocurrencies offer a new path to financial security and prosperity, while 35% believe cryptocurrencies are the future of trading. More than 90% of current cryptocurrency holders plan to purchase more cryptocurrencies or hedge their portfolios in the next six months. However, only 7% of respondents who do not own cryptocurrency plan to invest in this asset class during this time.
76% of respondents who hold or have held cryptocurrency stated that cryptocurrencies have positively impacted their financial well-being. However, the majority believe that cryptocurrencies will not solve the problems of the current financial system.
A significant share of voters in swing states think the current financial system favors elites over regular people, according to the survey. However, there is no confidence that cryptocurrencies can solve this inequality.
The majority of respondents believe that cryptocurrencies will not eliminate inequalities in the financial system. Therefore, trust in cryptocurrencies among voters in swing states is quite low.
It was previously noted that more than 90% of survey respondents plan to vote in the upcoming US elections, and a politician’s attitude towards cryptocurrencies can play a significant role in their election. However, the majority of survey respondents believe that cryptocurrencies will not fix the current financial system.
Low trust in cryptocurrencies may reflect a general lack of trust in the financial system among voters in swing states. The majority of respondents who feel that the current financial system favors elites over regular people believe that cryptocurrencies will not fix this situation.
However, some participants believe that cryptocurrencies can eliminate inequalities in the financial system. This shows that although trust in cryptocurrencies is low, many people are still pinning their hopes on cryptocurrencies.
