Cryptocurrency and the blockchain; two technologies bound at the hip, with one increasingly being used for purposes beyond invented money. In a recent survey, we asked for your thoughts on the two, and the results are in.
Perhaps unsurprisingly, a solid majority of tech pros believe deeply in cryptocurrency. Some 42 percent say they think ‘crypto’ is real, legitimate, and “the future of money.” If we’re being analytical, this means nearly half of you think huge financial institutions may soon face a reckoning due to Bitcoin and other cryptocurrencies, or will have to invest in it to remain relevant.
Only 12 percent say they consider cryptocurrency and blockchain too volatile to buy into, but interesting enough to keep an eye on. It seems pragmatism has no place in cryptocurrency markets.
Around 22 percent think both of these nascent technologies are, well, BS. This means almost one-fourth of the tech pros who responded to our survey have zero faith in blockchain, and think cryptocurrency is just “nonsense.”
A slightly larger number (24 percent) take a more optimistic approach. While this crowd doesn’t give cryptocurrency a full-throated endorsement as “the future of money,” they do consider it “proof-of-concept for blockchain.” To them, all the madness over cryptocurrency is early-stage rethinking of how we approach security and servers.
That last one may prove the more thoughtful position. Blockchain leads to jobs, but those are almost never related to cryptocurrency. Studies also show companies are already looking into blockchain, or have invested in it; but those same companies are not filing for ICOs to spread their own cryptocurrency.
There’s also evidence that recruiters and hiring managers are having trouble distinguishing between cryptocurrencies and blockchain technology. The job market for blockchain fluctuates with cryptocurrency valuation, which tells us there’s still a lot of uncertainty about this segment. It seems the 12 percent of “on the fence” respondents are more aligned with companies, philosophically speaking, than they might realize.