Financial Index Survey Finds 39% of Chileans Are Aware of Cryptos
Chile conducted its own Financial Knowledge Index, in which it was revealed that as little as 39% of the general public are aware of digital assets. The study, released on October 16th, was carried out by the nation’s Central Securities Depository in collaboration with software provider Cadem.
Cadem carried out research under the direction of the DCV and questioned citizens across fifteen capitals using a survey that was focused on the topic of digital asset awareness.
Low Awareness Rates Across Chile
Based on the results, males were more aware of the emerging technology with a strong emphasis on the awareness of Bitcoin, with 51% claiming to have previously learned of cryptocurrency at some point. Women, on the other hand, had lower awareness rates with as little as 27% of female respondents claiming to know about virtual assets.
Young adults, considered to be between the ages of 18 and 34 were apparently more knowledgeable on the subject than those from older generations. In addition, looking into class structures within the nation, those who were situated in upper-middle-class categories and those earning higher incomes were the most aware of cryptocurrencies at 75%, while those in lower or lower-middle sectors had lower rates of 58% and 36% respectively.
As a whole, the study determined public knowledge of the emerging technology within Chile was particularly low. With digital assets coming in last among the survey’s listed terminology Chileans were aware of. Terms including those related to Banking and Insurance, among other traditional financial service terminology gained the highest percentage of awareness among locals.
According to Coin Dance, a bitcoin statistic service provider, Chile is particularly low on the spectrum of nations that trade Bitcoin when compared to nearby regions in South America with as little as 60 BTC traded across the nation per week.
A Major Win For Chilean Exchanges
Recently, large financial entities and banks in the country have been known to close accounts created by several digital asset exchanges including CryptoMKT, Buda, and Orionx. All three have pursued court appeals which resulted in a judge ruling for them to be able to continue servicing these accounts.
In response, Chile’s central bank advised on implementing regulatory policies in order to monitor the risks associated with crypto businesses and exchange platforms utilizing their services. The bank’s aim is to ensure security and efficiency for consumers when dealing with crypto investments and payment processing. For now, government officials are taking particular interest in blockchain integration initiatives as their main priority.