Gartner research: 20 per cent of big companies to use crypto by 2024

New research from technological research and consulting company Gartner has mentioned that 20% of big companies will use digital currencies as collateral or to make payments by 2024.

The rise of central bank digital currencies (CBDCs) and the mainstream adoption of cryptocurrencies will determine various large corporations and commercial financial institutions to push digital currencies into their payment ecosystems. However, as Gartner officials suggest, CFOs must be aware of the risks and use cases of these digital currencies before broadly integrate them into their apps.

The main struggle company CFOs will face is the ability to adapt on the spot to ongoing regulatory guidance, as these cryptocurrencies lack the necessary level of regulation in most countries. Other challenges will be selecting the perfect service provider and invest in the required infrastructure to maintain the flow of these digital currencies. 

On the other side, many payment platforms, wallet providers, banks, and digital asset custodians have already built most of a steady infrastructure, which means large companies should expect minimum friction in deploying their in-house digital currency applications.

As the year 2022 unfolds, CFOs are expected to improve their overall knowledge on cryptos and blockchain technology and come up with feasible solutions for their own companies to implement this popular alternative payment method.