Bitcoin Investors Have ‘Low’ Financial Knowledge, Bank Study Shows
Canadian bitcoin owners have little financial literacy and are susceptible to high levels of financial risk, a new Bank of Canada research shows. The Globe and Mail newspaper in Canada reported the study. According to the research paper, despite their in-depth knowledge of blockchain technology, most Bitcoin investors struggle with fundamental financial literacy. However, while […]
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The latest study by the World Bank shows that it costs 4.98% on average to remit funds to South Asia which makes it the least expensive region while sub-Sahara Africa is the most expensive with an average cost of 8.47%. The quarterly study also finds that it is costlier to remit funds when using service providers such as banks that charge an average of 10.89%. Marginal decline Mobile operators are the cheapest as their sending costs averaged 3% and below during the period under review. Still, the study, which predictably excludes cryptocurrencies, shows a marginal decrease in the Global....
“In particular, Canadians who were young, male, employed, had a university degree, high household income and relatively low financial literacy were more likely to own Bitcoin." A study from the Bank of Canada found that Bitcoiners on average have lower financial literacy than those who don’t own Bitcoin (BTC). The study was compiled from four years of annual surveys from 2016 to 2020, with the sample sizes ranging anywhere from 1,987 to 3,893 respondents. The Bank of Canada’s full study is titled “Bitcoin Awareness, Ownership and Use: 2016-20” and was published on April 19. A key....
The Bank of Zambia has said it expects to complete its study seeking to determine the feasibility of launching a Central Bank Digital Currency (CBDC), before the end of the last quarter of 2022.
Narrowing the Financial Exclusion Gap
The Zambian central bank has said it expects to complete a research study that explores the benefits of launching a central bank digital currency (CBDC) in Q4 of 2022. The bank, which has been weighing the pros and cons of creating a digital currency, says the findings of this study will help it to determine whether is it beneficial to launch the....
The bear market is making things difficult for most stakeholders in the crypto industry, but a recent survey by the Bank of America shows that despite the pain, people’s interest in crypto and digital assets remains high. On Tuesday, Bank of America Global Research released a study detailing the findings of their “inaugural crypto/digital asset […]
The latest study from Accenture shows that only 6% of board directors and just 3% of CEOs of the world’s biggest banks have any technology experience, reports Business Wire. The study of 109 global banks considered “technology experience” as holding or having held senior technology positions at a company or senior responsibilities at a technology firm. Head of financial services at Accenture, Richard Lumb, said: “Very few banks have technologists on their boards and yet when you look at the big strategic challenges facing their business, particularly from financial technology companies, a....