Britishers lack knowledge about cryptocurrency as they are taking the terms in a completely different manner with some common sound words. According to a new poll, many British people have little or no idea what cryptocurrency really is. Terms like “blockchain” sound familiar, but often in completely different contexts.
A survey has revealed that a lot of British citizens may have a totally wrong idea about basic terms related to crypto. It shows that despite the growing popularity of cryptocurrencies, some Brits may still be completely unaware of their existence.
Some British people even don’t know the term Bitcoin. Bitcoin is just a new word for them. For example, 36 percent of those questioned think “cryptocurrency” has something to do with funeral finance. When the respondents were asked “What is the blockchain?” a staggering 41 percent replied that it had to be one of those old-style toilet tanks with a pull chain.
“We know the world of IT and computing can be complex, but we think our Dictionary of Computing jargon-buster might just help people struggling with a few technical words and phrases we in the industry probably take for granted,” says the company’s CEO Craig Joseph.
From the Authors of the study
“It seems plausible that the speed at which the technology landscape develops is the reason as to why we are faced with an ever-growing list of buzzwords and acronyms,” note the authors of the survey. To acquaint the public with some common acronyms and buzzwords a “Techionary” has been compiled. The “Techionary” has computing terms for every letter of the alphabet and proper definitions have been provided along with them.
In the last few years, the popularity of cryptocurrencies has been growing steadily around the world. Polls conducted in several countries have confirmed the positive trend. Almost 60 percent of Americans now say they have heard of bitcoin. The same is true for more than half of Russians.