Blockchain technology is poised to transform the way people buy, sell, and invest in real estate, according to a group of financial experts.
In a survey of over 3,000 investors, the Institute for Local Self-Reliance (ILSR) found that 80% of people were either “very” or “somewhat” interested in investing in blockchain-based investment vehicles.
The report was released on Monday by the Institute, an industry group that promotes local economic development.
“The use of blockchain is not new, but it is now becoming a major topic of discussion in the US and the UK,” said ILSR’s CEO, Dr. Matthew Gorman.
“As the number of blockchain-enabled businesses grows, the potential to capitalize on these opportunities increases.
We believe blockchain is the future of local business finance, and this report is the first step to help inform local investors in the industry.”
The institute’s survey of 2,000 individuals was conducted by phone and online over the past month, and has an accuracy rate of 97%.
Gorman said that the survey results showed that blockchain is “not just a new technology for Wall Street traders,” but that it has the potential “to change the way the world does business.”
The survey asked participants questions about their current investments in ICO’s and blockchain-related startups.
The respondents said that they were either very or somewhat interested in blockchain startups and their technology, or were actively considering investing in such ventures.
Some of the respondents expressed interest in investing their money in ICO companies, and others said that “investors are already looking at ICOs as the next big thing.”
While it’s difficult to quantify exactly how much money people have invested in ICO startups, the ILSR report found that the average number of ICOs each month in the U.S. is now over $2 billion, with more than 100,000 ICOs being launched.
According to Gorman, these numbers are likely inflated by a combination of hype and “overhyping.”
The study found that nearly all of the people who responded to the survey were either either “actively” or somewhat engaged in investing, but that a small percentage were either actively or “dismissive.”
The majority of those who responded were “dissipative,” saying they did not think they were investing in the blockchain sector.
The number of active investors in ICO is expected to grow dramatically as the blockchain ecosystem matures and companies like Ripple (XRP), Zcash (ZEC), and Monero (XMR) are launched, said Gorman in the report.
“A large number of these investors have invested at least $5,000 or more in these ICOs,” said Gormann.
“Some of them may be new to blockchain, others may have experienced the first time a blockchain-focused investment was used to buy a home.”
According to the ILSRS, about 85% of ICO investors are female and nearly 70% are under the age of 30.
The median age of ICO-related investors in U.K. is 38, while in France, they’re 40 and over.
A similar study conducted in the United States last year found that only 8% of U. S. investors were actively participating in ICO, while the number in the country was more than 15 million.
The blockchain industry is set to become even more mainstream in the coming years as the technology matures, according Gorman; the ILSSR’s findings suggest that a number of companies are looking to leverage the potential of blockchain to transform their investment models.
“There are a lot of people who are actively looking to take advantage of this, and there’s also a lot more of them who are not actively looking at this,” he said.
“So we’re seeing a lot less of the ‘not interested’ people.”
The report concluded by saying that more than half of the companies in the market are “undervalued” or that they’re “overvalued” in the near term, though it cautioned that there is a “lot of room” for growth.