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ConsenSys Global Cryptocurrency and Web3 Survey: Popularity of markets such as Nigeria, India, and South Africa rise
Consensys has just released the results of the second global survey conducted by the international online research and data analysis company YouGov. The survey targeted 18,000 respondents aged between 18 and 65, covering 18 countries and regions including Africa, the Americas, Asia, and Europe.
This survey continues the key issues in the 2023 report and adds new topics, delving into public concerns about data privacy exposure, Web 3, decentralization, the intersection of artificial intelligence and blockchain, and focusing on hot topics such as the compliance of cryptocurrency spot ETFs. According to the survey results, analysis is conducted based on different regions, providing insights into Web3, cryptocurrency, and decentralization, and disclosing opportunities and challenges in education and application. The following summarizes several key points from the official press release.
The awareness and participation in cryptocurrencies continue to rise.
93% of global respondents said they had heard of cryptocurrencies, up 1% from last year. Among them, 51% of the respondents said they understood the basic concepts of cryptocurrencies. 42% of the respondents said they currently own or have bought cryptocurrencies, especially in the Philippines (+7%), Mexico (+8%), Germany (+7%), South Africa (+7%), and Japan (+4%), where cryptocurrency ownership has significantly increased.
Web3 Participation is increasing
In 10 of the 11 major Web3 activities globally, participation has increased, including collecting NFTs (+3%), using decentralized finance (+4%), participating in blockchain games (+3%), owning Web3 wallets (+6%), and participating in staking services (+3%), with the number of participants in Web 3 activities increasing year by year.
Increased awareness and acceptance of decentralization
More than half of respondents from markets such as the United States, Nigeria, South Africa, and India (58%) indicate that they have a considerable awareness of decentralization. This shows that decentralization is gradually becoming more popular globally.
To rebuild confidence in the financial system
Most respondents believe that the current financial system needs to be reformed, and more people (+2%) than last year think that the existing financial system should be reorganized.
Web2 and decentralized power distribution
80% of global respondents believe that the power of Web2 institutions is overly centralized, and more than one-third of respondents believe that social media platforms and international banks and remittance payment systems would benefit from a decentralized revolution.
Concerns about artificial intelligence
More than 75% of respondents expressed concerns that artificial intelligence could bring fake news and fraud, while 54% of respondents believe that blockchain technology can help mitigate risks.
The popularization of emerging market cryptocurrencies
The popularity of cryptocurrencies, Web3, and blockchain has significantly increased in emerging markets such as Nigeria, India, and South Africa, while the development in certain regions of Europe, North America, Japan, and South Korea has been slightly slower.
The main findings of the 2024 survey
Personal data privacy exposure issues
83% of respondents worldwide said that personal data exposure is their top concern. Only 46% of respondents believe their internet service providers can handle personal data properly. The majority of respondents (78%) hope to have better control over their online identity and benefit from disclosing personal information. Only 39% of respondents feel that they receive sufficient rewards for the value they create through online activities.
Concerns about artificial intelligence
Respondents expressed concerns about the potential negative impact of artificial intelligence, such as fake news and scam content. Over 75% of respondents are aware of these issues, and 54% of respondents believe that blockchain technology can reduce risks, further emphasizing the potential of blockchain technology in the future digital ecosystem.
Perspective of Consensys founder Joseph Lubin
Ethereum co-founder and Consensys founder and CEO Joseph Lubin emphasized the role of blockchain and decentralized technology in enhancing confidential data management and the importance of improving trust and transparency. The survey results not only demonstrate the importance of data privacy issues (emphasized by as many as 83% of respondents), but also reveal people's concerns about the exploitation of personal information and fake news, which is an urgent issue in the global popularization of artificial intelligence. He added that every year we can see the continued growth and application of cryptocurrencies, blockchain, and the Web3 ecosystem, and 2024 will be a critical year for cryptocurrencies, with many factors rapidly converging and alternating, driving society towards a more fair and decentralized future.
The survey results show that global interest and acceptance of cryptocurrencies, Web3, and blockchain are gradually increasing. However, there is still a need for education and consensus, especially in promoting the widespread adoption of Web3 and decentralization, which presents various challenges, with personal data exposure being the biggest concern. This calls for a universal consensus to promote a blockchain knowledge revolution for institutions and individuals. The future development of blockchain and cryptocurrencies will experience strong growth by 2025, especially in emerging markets, which have great potential.
This article ConsenSys Global Cryptocurrency and Web3 Survey Report: Popularity in markets such as Nigeria, India, and South Africa is on the rise first appeared on Chain News ABMedia.