During a recent interview with CNBC, Sturt Alderoty, chief legal officer at Ripple, named some of the key barriers to crypto adoption based on the results of a recent survey conducted by the National Cryptocurrency Association (NCA).
He has mentioned the lack of education, the negative perception around crypto, and regulatory uncertainty among the key reasons why some people are hesitant to dip their toes into crypto.
Ripple's top legal mind has noted that the vast majority of the survey's respondents claimed that crypto had a positive impact on their lives.
Alderoty claims that a lot of the findings ended up surprising him. For instance, he has noted that more people over the age of 55 own crypto than people under the age of 25.
"Crypto is not just the bros (the crypto bros). Nearly a third of crypto holders are women," he said.
As reported by U.Today, the survey, which was also spotlighted by Ripple CEO Brad Garlinghouse earlier this week, revealed that crypto has had a positive impact on the vast majority of buyers. Investing, unsurprisingly, remains the biggest use case, but an unexpectedly high percentage of crypto owners also use the nascent asset for shopping purposes.
A $50 million grant
It is worth noting that the launch of the NCA was backed by a $50 million grant from Ripple.
Alderoty claims that crypto holders were being vilified under the previous administration. At the same time, he has stressed that the non-profit will remain apolitical, meaning that it will not be involved in lobbying efforts.
"We felt that it would be important to demystify crypto, make it more accessible, and really amplify the voice of everyday Americans who own crypto," Alderoty said.
Vladislav Sopov
Dan Burgin