Consensys: Global Cryptocurrency and Web3 Survey

Consensys: Survey on Cryptocurrencies and Web3 globally

Consensys teamed up with YouGov to conduct a Web3 awareness survey of over 15,000 people in 15 countries worldwide, with the aim of understanding people’s views on cryptocurrencies, NFTs, Web3, blockchain, and metaverse. The survey showed that 92% of participants were aware of cryptocurrencies, and over a third of people acknowledged its potential as a future currency and digital ownership.

Although there is high awareness of cryptocurrencies globally, awareness of Web3 is low. 92% of global respondents reported having heard of cryptocurrencies, with Nigeria, South Africa, and Brazil leading in awareness. However, only 8% of respondents considered themselves very familiar with the concept of Web3, highlighting a disconnect between public perception of Web3 and its potential as a solution to current internet privacy, identity, and digital ownership issues.

People crave more ownership and data privacy. 83% of respondents prioritize data privacy, 70% believe they should share in the profits companies derive from their data, and 79% want better control over their online identities. This emphasizes the importance of helping people understand how Web3 can empower them with more ownership of identity and internet assets.

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Regional differences exist. European countries exhibit a greater degree of skepticism towards cryptocurrencies, which is often reflected in countries like Japan and South Korea. In these countries, cryptocurrencies are more closely associated with negative concepts like fraud, money laundering, and speculation. In contrast, most countries in Southeast Asia, South America, and Africa generally exhibit more enthusiasm towards cryptocurrencies and Web3. In countries like Argentina and Nigeria with unstable local currencies, cryptocurrencies are seen as an important means of accessing global capital and hedging against inflation.

A paradigm shift from “users” to “builders.” People hope the internet can provide more control over data and identity, fairer profit sharing with creators, and recognize Web3 as a potential solution. We see an opportunity for a shift in mindset from internet users to builders, utilizing Web3 products to address issues of network ownership, identity, privacy, and creator monetization.

Reference: https://consensys.io/insight-report/web3-and-crypto-global-survey-2023#10-conclusion-

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