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Ripple has published its third annual report on “Blockchain in Payments” with positive results for the blockchain industry, the XRP digital asset, and cryptocurrencies. The report is based on a survey conducted from August to September of this year. The 854 respondents are involved in the provision of payment services and were spread over 22 countries.
In addition, Ripple revealed that the companies surveyed range in size in terms of revenue from $500,000 to more than $10 billion. In that regard, Ripple makes a comparison with the 2019 results and states that the blockchain industry is in its final phase of adoption. In the current context, with the global economy affected by the Covid-19 pandemic, the report states:
Business interest in digital assets, when paired with blockchain technology for payments, has grown sharply as early adopters look to increase the speed in payment settlements.
In that sense, the report indicates that 79% of participants have shown growth by entering unexplored markets and improving their services and products. Of all sectors, the most crucial was innovation in payment technology, according to 44% of participants. The companies surveyed say that their customers expect them to “continue to innovate in payment technologies”.