The recent survey by the cryptocurrency and payment platform, crypto.com and The Economist revealed that consumers trust Central Bank Digital Currencies (further - CBDCs) more than the decentralized crypto assets.

Specifically, the conclusion of the survey of over 3000 consumers highlights the demand for central bank digital currency than decentralized cryptocurrency. As per the report, the interest for CBDC grew twice in contrast to interest for decentralized crypto. In particular, according to 54% of respondents, CBDC owns their interest while only 14% described it as untrustworthy. Besides, 23% express a balanced approach towards CBDCs while only 9% of respondents are not aware of it. 

The survey report further notes that almost 38% of respondents do not trust decentralized cryptocurrencies while 26% share they trust in crypto assets. More so, 25% hold a balanced opinion regarding digital currency, 11% do not know about it. When asked COO of crypto.com, Eric Anziani, he said:

"With CBDCs gaining more traction and awareness in the mainstream news, it’s important for the industry to grasp the opportunities to turn that around,” continuing, “Data privacy, security, and education are three key areas the crypto industry really needs to strengthen to build a more robust foundation to drive adoption,” 

While crypto is yet to gain mainstream adoption and is often criticized due to the volatile feature of a cryptocurrency, Eric states that the consumer awareness of crypto was much higher than expected "85% of all respondents”. He also notes that the almost “34% of respondents prefer online payments to be digital currency’s main function”, continuing:

“Only 24% cited ‘short-term investment’ as the primary function of use"

The survey comprised respondents from several developed and developing countries including, the US, France, UK, Australia, Singapore, South Korea, South Africa, Vietnam, Philippines and Turkey, and Brazil.