ConsenSys and YouGov have released a study on the perception of cryptocurrency and Web3 globally, which you can find here.
It turns out that cryptocurrency is much more popular than Web3. While 92% of respondents have heard of cryptocurrencies, only 8% are well aware of what Web3 is. This significant gap highlights the discrepancy between the awareness of these two concepts.
Which Country Knows the Most About Crypto?
You might be surprised, but it’s Nigeria. An impressive 99% of surveyed Nigerians are aware of cryptocurrencies, and 70% even understand how blockchain works. This might be related to the aggressive implementation of CBDC in the country and its subsequent impacts.
Is Data Privacy Important?
According to the study, 83% of respondents believe data privacy is very important. Interestingly, in Japan, only 64% consider privacy crucial, the lowest percentage among all surveyed countries. Researchers expected Japan to score higher in this regard.
Other Findings:
- 79% want better control over their digital identity.
- 67% of respondents wish to own the things they create online, supporting the concept of NFTs.
- In the UK, 76% of people have no knowledge of NFTs, compared to only 24% in Vietnam.
The main association with cryptocurrency is “money of the future,” followed by “alternative to traditional finance,” and then “future of digital ownership.” What does cryptocurrency mean to you?
An excerpt from the ConsenSys And YouGov study
While globally, 92% of people have heard about cryptocurrencies, only 8% know about Web3, as reported in the 2023 ConsenSys and YouGov survey. The most striking number here comes from Nigeria, with 99% awareness of cryptocurrency and 70% understanding blockchain. Data privacy sits at an important place, with 83% prioritizing it, 79% wanting better control over their digital identities, and 67% would like to own what they create online. Surprisingly, in Japan, only 64% consider data privacy important, the lowest among surveyed countries. For detailed insights, explore the full report here.
