• In response to a examine by ConsenSys, world consciousness of cryptocurrencies has reached 93%, with widespread adoption in areas akin to Nigeria and South Africa.
• Information privateness issues stay excessive, with 83% of respondents highlighting the necessity for extra management over their on-line identities.
• The examine highlights the rising need for decentralization in social media and banking methods, and the shift in the direction of Web3 possession.

ConsenSys, the main software program know-how firm behind Ethereum, has introduced the outcomes of the second world opinion ballot on cryptocurrencies and Web3 performed by worldwide analysis agency YouGov.

The examine surveyed greater than 18,000 folks in 18 nations throughout Africa, the Americas, Asia, and Europe. That is primarily based on insights from the earlier mannequin in 2023. This expanded survey examines world attitudes in the direction of information privateness, possession, decentralization, and the intersection of blockchain and synthetic intelligence (AI).

The survey exhibits that information privateness is a big concern for many individuals, with 83% of respondents citing information privateness as their prime problem. Cryptocurrency adoption is growing globally, with 93% of respondents conscious of cryptocurrencies. Regardless of this excessive degree of consciousness, solely 52% say they absolutely perceive the know-how.

Cryptocurrency possession and entry boundaries

Possession charges are notably excessive in rising markets, with nations akin to Nigeria (73%), South Africa (68%), and the Philippines (54%) main the best way in cryptocurrency possession. In the meantime, there may be rising curiosity in Europe, notably France (+3%) and Germany (+10%).

Limitations to entry stay. Market volatility (20%) and issues about fraud (17%) are main obstacles. Nonetheless, respondents are optimistic concerning the potential of cryptocurrencies, associating them with phrases akin to “the way forward for cash” and “an alternative choice to the normal monetary system.”

Web3, NFT, blockchain recognition

International participation in Web3 actions is growing. 33% of Web3-savvy respondents at present use a cryptocurrency pockets, a rise of 6% from final yr. Nonetheless, understanding of Web3 is low in lots of areas, with restricted familiarity reported in Japan, South Korea, and components of Europe. In distinction, consciousness is growing in Nigeria (61%) and South Africa (48%).

NFTs are extra widely known than Web3, being very well-known in Asia (36%) and the US (45%). On the similar time, Nigeria leads in funding curiosity in NFTs, with 93% of respondents saying they wish to spend money on the following 12 months. Nonetheless, NFT possession charges are nonetheless comparatively low total, and perceptions of NFTs are blended.

Though blockchain is healthier understood than Web3 and NFT, it nonetheless wants to realize world understanding. Consciousness is especially excessive in Nigeria (77%) and South Africa (52%).

Decentralization and belief in Web2 methods

Globally, 82% of respondents consider that Web2 firms have an excessive amount of affect, except for Japan (58%). Understanding of decentralization is reported to be decrease, however higher identified in nations akin to the US, the Philippines, India, Nigeria, and South Africa.

A good portion of respondents (one-third globally) consider that decentralization may gain advantage social media and worldwide banking.

General, ConsenSys views the findings as proof that cryptocurrencies, blockchain, and Web3 applied sciences are advancing the transition to a extra simply on-line world.