The Importance of Blockchain Awareness

Blockchain technology is gaining tremendous popularity not only in the cryptocurrency sector but also in other sectors. The features of blockchain technology such as transparency, traceability, immutable ledgers, fast settlements, and unanimity are the main reasons behind its diverse applications. However, blockchain awareness is shockingly low. This article will delve into details to highlight the importance of it in the dynamic world.

Data on Lack of Blockchain Awareness

The data on the lack of blockchain awareness will reveal the extent of ignorance that people in different regions have about this technology. 

Europe

A survey conducted in Europe found that 40% of the investors there do not have adequate knowledge of blockchain technology. They also do not have any idea of how it works. A staggering 60% of the respondents lack confidence about the security features of blockchain apps. The positive side of the survey is that nearly 4/5th of traders and investors want to know about blockchain technology more. They also want to gain more knowledge about the functioning of the crypto market.

Asia Pacific

The survey reports regarding blockchain awareness also reveal a grim picture. Over 60% of the participants lack adequate knowledge of blockchain technology. Nearly 70% are doubtful about the security aspects of blockchain technology.

North America

The survey report reveals that the situation in North America is marginally better than in Asia-Pacific and Europe. Nearly 58% of the participants do not understand the basics of technology. This essentially implies that they do not have any primary knowledge of cryptocurrencies and markets. The amount of ignorance in the context of North America is more shocking because cryptocurrencies are relatively very popular in the continent. 

Ways To Increase Blockchain Awareness

The awareness of blockchain technology should increase without which people will not fully understand, realize, and utilize its potential and advantages. These are some of the common ways to increase blockchain awareness.

Joining Educational Courses

Many companies offer educational courses to raise awareness about Blockchain. These courses often focus on both theoretical and practical knowledge dealing with corporate payments, cryptocurrency exchanges, blockchain certifications, and ICO platforms. Moreover, the courses can help both new and existing users familiarize themselves with the intricacies of the technology.

Increase Involvement with the Crypto Community

Familiarization with blockchain can naturally raise blockchain awareness among the masses. This can only happen if people increase their involvement with the crypto community by dealing with cryptocurrencies such as Bitcoin, Ethereum, and other altcoins. Moreover, new business ventures can advertise their startup with the help of blockchain too. Social media is one of the most effective ways of increasing involvement with the crypto community.  

Branding Identity with Blockchain

The potential of Blockchain technology is now being explored across industries. However, for further marketing of this technology, famous brands must utilize its advantages. It is also necessary for famous brands to deal with crypto startups or have provisions for crypto transactions. 

Also Read- The Significance of Ethereum ETF

Conclusion

Blockchain awareness needs to increase for the fast transformation of many important sectors in the world. The reports reveal that a large number of respondents lack preliminary knowledge about blockchain. Furthermore, the lack of awareness is more or less uniform across regions such as North America, Europe, and Asia-Pacific. Therefore, it is essential to familiarize people and encourage businesses to deal with and use blockchain technology.