A study by the Center for Studies in Tax Administration (CEAT) at the University of Buenos Aires, Argentina, conducted a use case and user experience survey in August entitled “Official Cryptocurrencies: The Impact of Central Banks on the Tax Management of Stable Coins and Digital Money”. The survey was carried out through a presentation on the official YouTube channel of the research center mentioned. where crypto assets were addressed as a border issue for tax administrations and the potential challenges for control and administration, mainly for stablecoins and CBDCs.
This survey was conducted live with 200+ participants aged 17 to 65 with an accounting profile and from other fields. Students and PhD students as well as public and private agencies also took part. In order to draw more specific conclusions, the groups following the first question have been divided into “users” and “non-users”.
In terms of results, It was reported that 33% of users owned cryptocurrencies and 67% did not yet;; However, 51% of respondents know how to create a portfolio, and for those who aren’t already users, it is argued that a better experience is needed.
Number. Use cases for stable coins
Source: Center for Studies in Tax Administration FCE, UBA (2020).
In relation to the main use cases, it has been reported that stablecoins could be useful as a haven of value, access to other crypto assets, international payments, savings, and investments and payments. For non-users in particular, stablecoins use is more associated with peer-to-peer (P2P) payments or sending to their contacts rather than international payments or facilities.
In general, one of the key conclusions is that people who are not yet cryptocurrency users have a real interest in learning and using stable coins. This might be easier to achieve as crypto asset applications provide a better experience for those who use them.