A new survey from Big Four accounting firm and professional services provider KPMG suggests that American consumers appear to be increasingly open to using blockchain-based tokens, VentureBeat reports. According to the company, their survey findings confirm the important role tokenization can play in the future of commerce.
KPMG U.S. blockchain leader Arun Ghosh emphasized that role in a statement:
“Tokenization is ushering in the next generation of commerce. It provides inspiring new ways to classify value, either by creating new assets or reimagining traditional ones, sustained with the security and transparency of blockchain. Businesses that take advantage of tokenization can open the door to entirely new process improvements, revenue streams and customer engagement opportunities.”
The survey found that only a third of American consumers reported familiarity with blockchain tokens. Of that group, however, 63 percent said that they view tokens as an easy payment option, while 55 percent believe that they could benefit from tokenized loyalty reward programs.
In fact, 82 percent of consumers reportedly expressed openness to using tokens in their current loyalty reward programs. 81 percent indicated that they would be more likely to trust tokens that were part of an existing loyalty program. 79 percent of Americans would be open to using tokens if they could be convinced that they’re easy to use.
Ghosh highlighted the opportunity for companies:
“By using tokenization, companies can develop new forms of value exchange within an existing network, such as allowing consumers to use loyalty points for purchases with different merchants. Not only can this create more engaging customer experiences, it offers significant operational efficiencies by accelerating the transfer of value.”