KPMG Survey: US Consumers Highly Willing to Use Blockchain Tokens

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63% of American consumers perceive blockchain tokens to be an easy form of payment, according to a new survey from “Big Four” auditor KPMG.

VentureBeat reported the survey’s results on Sept. 25, citing an accompanying statement from KPMG’s United States blockchain leader Arun Gosh:

“Tokenization […] provides inspiring new ways to classify value, either by creating new assets or reimagining traditional ones […] Businesses that take advantage of tokenization can open the door to entirely new process improvements, revenue streams and customer engagement opportunities.”

82% would use blockchain tokens in existing loyalty programs

Based on the findings of its survey, KPMG has underscored its belief that blockchain infrastructure can bring significant strategic business value to commerce. 

With transparency, immutability and reduced friction broadly recognized as being key advantages of blockchain, there appears to be a high level of consumer receptivity to its innovation, whether or not they are themselves familiar with the ins and outs of the technology.

While only 33% of consumers are “highly familiar” with these defining properties of blockchain-based tokens, 63% perceive them to be an easy form of payment and 55% believe they can facilitate better loyalty reward schemes.

82% of consumers are open to using blockchain tokens as part of an existing loyalty program, with 81% saying they would trust the use of such tokens more readily if they are already signed on to a firm’s loyalty program. 79% of surveyed respondents said they would be more willing to use blockchain tokens if they were proven to be simple — both intuitive and engaging — to use.

Eager acceptance

KPMG’s survey further indicated that for brands within industries where a high level of consumer loyalty already exists, the potential for tokenization to take off is extremely bullish.

These high-loyalty industries were identified as restaurants/fast food/coffee shops (86%), electronics companies (81%), banks and credit card companies (87%) and media/telecom companies (79%).

Cointelegraph has recently published an analysis of recent developments in tokenizing film financing and production, including a new $25 million movie fund from Hollywood actor, director, producer and martial artist Wesley Snipes.