The results of a cryptocurrency survey conducted by the Dutch banking group, ING, revealed a significant lack of appetite for Facebook’s Libra, and its designated use case: Sending payments across social media.
Taking 15,000 Europeans, from 15 distinct countries, the survey collated Europe’s sentiment around digital currencies. Questions ranged from the future of cryptocurrencies to whether or not respondents would go swap cryptos out in lieu of cash.
Want Some Libra? Probably Not
One distinct revelation came from a statement concerning social media payments. According to the results, an overwhelming 66% of European respondents answered the statement, “I would send money to friends or family using social media,” with “disagree.” Meanwhile, only 17% of those in Europe approved of remittance via social platforms, and a further 17% remained ambivalent.
Out of the 15 countries, Austria, one of Europe’s strongest economies, was the most opposed to sending cryptocurrencies via social media platforms. Participants recorded a massive 82% in defiance to social media-based payments.
Libra Finds Love in Turkey
Turkey’s citizens are the most convinced about a Libra-like currency. The country split down the middle, relaying a 43% divide between those who would use social media payments, and those who would refuse.
Turkey also cited a considerable level of support for cryptocurrency in general with 62% of the country positive about the future of digital payments, nearly doubling the sentiment presented by U.S. respondents.
The support shown by Turkey is perhaps no surprise. The Turkish economy is currently facing a crisis, and the government has once again slashed interest rates to quell a recession. Meanwhile, research suggests that the use of cryptocurrencies within the country is on the rise.