InnMind presents Global Cryptocurrency Benchmarking Study that provides us with an extremely comprehensive analysis of global cryptocurrency industry and its key components
Cambridge Centre for Alternative Finance, founded in 2015, has presented its first cryptocurrency benchmarking study and offers new insights on this innovative and rapidly evolving sector of the worldwide economy.
The study is holistic in its approach and provides us with an extremely comprehensive analysis of global cryptocurrency industry and its key components - exchanges, wallets, alternative payment systems and mining sector.
The research team has gathered survey data from 150 crypto companies and individuals from 38 countries.
The key highlights of the study:
Number of unique users of crypto wallets is between 2,9 million and 5,8 million.
Between 5,8 million and 11,5 million wallets are currently ‘active’
Nearly 2000 people are working full-time in the cryptocurrency sector
79% of payment companies have existing relationships with banking institutions and payment networks, while obtaining and maintaining these relationships is still a biggest challenge in the sector
52% of small exchanges have a formal government license with only 35% of large exchanges.
National-to-cryptocurrency payments constitute two-thirds of total payment transaction volume
70% of large miners rate their influence on protocol development as high or very high
Here are some other findings from the report
The total cryptocurrency market capitalisation has increased more than 3x since early 2016, reaching nearly $25 billion in March 2017
Bitcoin is still the most widely supported cryptocurrency
The Bitcoin network is the most widely used payment rail for cross-border transactions
With regards to the current regulatory environment, more regulatory clarity is in high demand.