Italy: opinion on a digital currency, 2019

Does the world need a digital currency? Apparently, Italians think it doesn’t. According to the results of a survey conducted by YouGov Italia, only 29 percent of Italians said that they are in favor of the implementation of such a currency. On the other hand, Italian respondents seemed to be more accommodating towards the idea of a global currency. The share of people in favor of such a currency reached 41 percent.

What about Libra?

The survey mentioned above was conducted following the presentation of Libra, Facebook's cryptocurrency. Respondents were also asked what they think about Facebook’s initiative. Italians respondents were quite reluctant towards Facebook’s cryptocurrency, as only 16 percent of them said that they would use Libra. When asked to decide what products they would use it for, respondents picked mainly clothing, services (cinema, gym subscription, etc.), and digital content.

Italians are wary of new financial products



New financial products and service struggle to gain a foothold in Italy. Most Italians are reluctant towards what they see as obscure and risky. This might be caused by a widespread low level of financial literacy, which becomes even more pervasive when talking about the latest innovations in the financial sector (e.g. cryptocurrencies).

Do you agree or disagree with the following statement? The world needs a digital currency.

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Source

Release date

June 2019

Region

Italy

Survey time period

June 21-24, 2019

Number of respondents

989 respondents

Age group

18 years and older

Method of interview

Computer-assisted web interviews (CAWI)

Supplementary notes

* Includes respondent who are strongly and quite in favor.
** Includes respondents who are strongly and quite against.
The survey was conducted following Facebook CEO, Mark Zuckerberg, officially presented Libra, Facebook's cryptocurrency. During the event he stated "The world needs a native digital global currency."

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