A Bright Future Awaits For Bitcoin And Cryptocurrencies according To Coinbase Research
A survey by Coinbase exchange done by Qriously researchers on the overall adoption rate of cryptocurrencies amongst U.S. students shows that the pioneer cryptocurrency could be in for treat as over twice the number of students wishing to own a cryptocurrency doubles the population average.
The report released this Tuesday on the Coinbase blog showed an increasing interest towards cryptocurrencies by the young generations which is set to see an increase in demand for Bitcoin and other altcoins in the future.
The Qriously – Coinbase Bitcoin research
Key statistics from the research
- The research included a survey by Qriously of 657 students in U.S, a comprehensive review of courses of the top 50 international universities, and interviews with professors and students across the globe.
- Of the various students from different majors, computer science majors students were the most likely to be interested in and gained experience with cryptocurrencies at 26% of the sample size.
- 42% of the top 50 universities in the world offer at least one course or more courses in the blockchain field.
The research showed that 18% of the U.S. student population have either owned (or currently owning) Bitcoin, Ethereum or a type of altcoin at time of research. This represents twice the amount of people in the general population who have owned BTC or other altcoins before at 9%. Furthermore, of the sample, 17% of the students considered their knowledge in the field really good as opposed to a meagre 9% of the general population in the country.
The increase in student participation in the field signals for an improved adoption rate and ownership of crypto, especially BTC, in the future as the students look into investing into cryptocurrencies.
This is not the first time such a conclusion is reached, especially in the tech industry, where young minds take over before the elderly are integrated into it. During the internet revolution in the 80s, the service was predominantly used by the students to research and share this research in the academia field and with their professors. Notwithstanding, the social media boom that has been witnessed during the decade, was heavily influenced by student interactions on them.
Case in example, Facebook, the largest social media platform today, was started amongst Harvard students and later spread to other colleges before gaining mass adoption across the world.
Top Universities Accept Cryptocurrency And Blockchain Related Courses
The world of blockchain and cryptocurrencies is expanding across various fields in the economy. Top universities in the world are currently offering courses in the field with the rest focusing on the possibility of adding this courses in the future. Research results from the Imperial College in London showed that mass adoption of cryptocurrencies is about to take route as cryptocurrencies become a payment option for goods and services within a decade.
This resonates well with the research by Coinbase as these students will be the driving force of the economy in the next 10 years.
With 25% of the surveyed students totally agreeing to take a blockchain or crypto related course, many of the top universities are pushing towards entry to the field. So far, 42% of the top 50 universities have at least one course on blockchains and cryptocurrencies with 22% of them offering more than one course.
However, looking at the global scale, only 5 of the 18 universities (28%) offering the course are outside the U.S. Of the five only two – the Swiss Federal Institute of Technology Zurich and the National University of Singapore – are offering more than one course of blockchain.
Number of blockchain courses taught in top universities
The most likely students to have interest in the field are computer science majors, business majors and social sciences majors at 24%, 14% and 11% respectively.
The increasing interest in cryptocurrencies is well explained by David Yermack, a financial department chair at New York University Stern School of Business who had only 35 students enrolled to his blockchain course in 2014. The course has since increased in number to over 230 students enrolling this year.
After the so-called short squeeze experienced on Bitcoin and other cryptocurrency markets last week, the market has continued to increase in price as the pioneer market soared above the $7,000 mark this Tuesday.
The news will come as a motivation for the cryptocurrency enthusiasts as they plan to increase their money bags to the market. Not only is the price rising but the overall adoption of cryptocurrencies is expected to increase in the future as the recent poll on students interacting with cryptocurrencies has shown.
- Image source: Coinbase blog ↑