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Survey by Finder Shows Cryptocurrency and Blockchain Least Hot-trends for 2020

In a survey across various countries among 8k people, a question was put up as to which trend did they think would be the most promising one in 2020 to transform society.

Out of 10 different options, the least opted one was cryptocurrency (3%) and blockchain (2%). The most opted ones were renewable energy (20%), 5G (15%) and none of the above (14%).

Discussions of tech trends across social media reflect these findings. 5G seems to be the most promising tech trend according to Brandwatch. This trend is followed by AI and self-driving cars. After that, robots, blockchain, IoT and renewable energy are all at the same level. Cryptocurrency came in second last with about 2.5% of the social media discussion while VR was last with only 1%.

The different countries showed varying interests. In some countries, the responses were distributed between different technology trends, while for some countries, the responses leaned heavily towards particular trends. For example, Malaysian respondents favored blockchain and cryptocurrency. A country close to Malaysia, Singapore, had surprisingly contrasting responses. They were least likely to say blockchain. The age difference in responses is also something important to be considered. The young age group of 25-34-year-olds was more likely to favor cryptocurrency than any other age group. Genders also showed different responses. Men were more likely to respond with blockchain and cryptocurrency than women.

Something to keep in mind while comprehending these results is that people have difficulty differentiating between cryptocurrency and blockchain. They do not understand that cryptocurrency cannot have a specific impact without blockchain being the reason behind the impact as well. There is a lack of understanding of the connection between cryptocurrency and blockchain.

The survey might be indicative of a lack of basic blockchain knowledge with the public. Cryptocurrency is attracting more attention. This should have been expected. Bitcoin gets searched more than cryptocurrency or blockchain over the internet. For many, cryptocurrency is Bitcoin, just like people identify photocopy with Xerox and diapers with Pampers.

There are also increases and decreases in the amount of attention the different trends receive during social media discussion. These are affected by happening across the world. For example, there was a surge in the discussion of AI during the Hong Kong protests as protestors were using lasers to avoid AI-driven facial recognition technology.

People seem to have really low expectations of cryptocurrency and blockchain for the year 2020. Despite this, it continues to be a surprisingly hot topic of discussion over social media.

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About Shreya Kapoor

20 y/o budding journalist, with a tinge of good vocabulary.

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