A blockchain survey conducted by KPMG, one of the “<a href="https://www.cryptoknowmics.com/crypto/big-four-accountancy-firm-unveils-new-crypto-auditing-tools/">Big Four</a>” auditing companies shows that US consumers are interested in tokens. Americans of all age groups indicated interest in purchasing with crypto tokens based on blockchain, as VentureBeat <a href="https://venturebeat.com/2019/09/25/kpmg-consumers-are-embracing-making-purchases-with-blockchain-tokens/">reported</a>.

According to the survey, 63% of US consumers believe that blockchain tokens are the most convenient system of payment. While another group (55%) noted that tokens would enable them to make good use of loyalty reward points.

Although one-third of Americans claimed that they are highly familiar with the tokens. 82% of consumers admitted they are ready to engage with tokens as a share of an existing loyalty program. 

Meanwhile, most Americans said they trust the use of tokens readily if they are involved in a company’s loyalty program.
<h2>US Consumers Demonstrate Interest in Blockchain Tokens</h2>
Per the report, the industries with high loyalty allegiance by US customers include banks and credit card companies (87%), electronics companies (81%), restaurants/fast food/coffee shops (86%), and media/telecom companies (79%).

Unarguably, the concept of tokenization revitalized loyalty programs in companies. It opened up a strategy for the next generation of commerce, the KPMG US blockchain leader, Arun Ghosh said. He further added:

“It provides inspiring new ways to classify value, either by creating new assets or reimagining traditional ones, sustained with the security and transparency of the blockchain. Businesses that take advantage of tokenization can open the door to entirely new process improvements, revenue streams, and customer engagement opportunities.”

The finding directs to the opportunity for companies to harness the blockchain for immutable and frictionless transactions. The idea of tokenization helps businesses to establish a new system of value exchange within an existing network. 

For instance, consumers can be able to use loyalty points to purchase things with different merchants via tokenization.

“Not only can this create more engaging customer experiences, it offers significant operational efficiencies by accelerating the transfer of value,” Ghosh added.

US Consumers Shows High Interest in Purchasing with Blockchain Tokens: KPMG Report

Ibiam Wayas is an optimistic crypto news reporter who also enjoys tech writing. He is an introvert who spends much of his time on the internet studying facts that will help him excel in the digital/cryptocurrency space.

US Consumers Shows High Interest in Purchasing with Blockchain Tokens: KPMG Report

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