Only 2% of businesses in the world accept Bitcoin payments

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Only 2% of businesses in the world accept Bitcoin payments

Only 2% of businesses in the world accept Bitcoin payments.

Blockchain technology has been used by only 2% of companies worldwide.
This is confirmed by a survey conducted by the Stack Overflow Developer Group for 2019.

Stack Overflow conducts a survey among developers each year to find out the preferences of their favorite technologies.
For this year, more than 90,000 people participated, who also had the opportunity to speak about blockchain technology.

The first question related to the subject was centered on the study of how companies use blockchain technology.
80% of the companies surveyed indicated that they did not use it “in any way”.
12.7% reported using “non-monetary applications” based on this protocol, while only 4% of respondents indicated that they use it to “implement products based on cryptocurrency”.

Another noteworthy figure is the 2.1% who barely used by blockchain technology to accept payments in Bitcoin or other encrypted currencies.

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So we see that most institutions in the world do not use blockchain technology.
However, Stack Overflow points out that India is the country most likely to say that it uses such technology.

When asked for their opinion on blockchain technology, 29.2% considered it “useful in many areas” and with the possibility of “changing many aspects of our lives”.
26.2% thought it was “useful for storing immutable documents outside the currency” and 12.2% considered it “useful as a decentralized currency (Bitcoin)”.

In addition, 16.8% and 15.6% of the companies surveyed considered that it was a “passing fad” and that it allowed respectively “the irresponsible use of resources”.

As you can see, blockchain technology is generally positive, although it is important to note here that its supporters are made up of young and less experienced developers.
The report points out that this optimism diminishes with the age of the respondents…

So there is still a long way to go for Bitcoin, blockchain and cryptocurrency to be used in everyday life and in business activity whether it’s for the pure use of blockchain technology or accepting payments in Bitcoin for example.

So, it will take years before mass adoption, it’s like when internet technology first appeared, many did not even believe in it but fortunes were built on it like Amazon, Facebook, Google, Microsoft, Twitter, Instagram, etc…

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