UK Survey – 60% Business Owners Seeing Bitcoin As Failed Method

Bitcoin ATM

In a survey taken by the Smith & William Enterprise Index, a great majority of the respondents polls that the owner-managers and entrepreneurs in the England said that the bitcoin is going to fail as a payment method. The survey was taken in order to know what views business-owners have on the industry affairs. More than 60 percent of the people said that they do not see any big impact by the cyptocurrency, Bitcoins on the traditional payment methods.

A partner in the Investment management of the Smith and Wilson Fergus Caheny says once it was thought as a next big people by the people, but the severe hits that Bitcoin due to its popularity and reputation over the past years.

This view of the UK based business owners toward the cyptocurrency is very surprising, because of the reputation of the region as a fintech’s leading destination. The digital currencies and blockchain innovation is backed by the UK Chancellor George Osborne and the UK Treasury.

Acceptance of the Bitcoin

Here are some examples of the growing reputation of the bitcoin in this year:

  • The bitcoin was enabled by the Gaming distributor platform Steam as a method of payment to more than 120 million users globally in April of the present year.
  • Bidorbuy, which is the biggest e-commerce marketplace portal in the South Africa enabled the payments in bitcoins currency in March this year.
  • COM, one of the top 25 Japanese websites and an entertainment platform started accepting the cryptocurrency as a payment option for its 19 million users.
  • A great majority of taxi providers in Budapest, capital city of Hungry now accepts cryptocurrency.
  • In Switzerland, the Town of Zug started to accept the bitcoin as a payment method for the services of the municipality from the residents.
  • In Dutch City of Arnhem, there are more than 100 businesses who accept the cryptocurrency.

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