According to a study conducted by Consensys, the global population's awareness of the Bitcoin and cryptocurrency ecosystem has increased significantly. This is especially true among Latin Americans, who are known for their adoption and use of BTC, even calling it the “future of money.”
Blockchain technology company Consensys, which develops the popular Metamask crypto wallet, conducted a global survey to measure the level of interest and knowledge that the population has about the cryptocurrency and blockchain ecosystem, including DeFi, NFTs, the metaverse, and Web3. The survey was conducted in different regions of the world, covering a total of 15 countries across all continents, including the United States, South Korea, Japan, Vietnam, the Philippines, the United Kingdom, France, Nigeria, South Africa, Mexico, Brazil, Argentina, among others.
The results reveal that the crypto industry has spread globally, with the 92% of respondents claim to have heard about cryptocurrencies, at least once. Of these, 50% said they understood what cryptoassets are and how they work.
Countries with the most cryptocurrency-familiar populations
The perception of cryptocurrencies has improved considerably in recent years. According to Consensys, cryptoassets are now are more appreciated as financial instrumentsThe company also said the narrative around cryptocurrencies has changed, with fewer people now believing they are linked to money laundering and speculation.
Among the countries that have the populations most familiar with cryptocurrencies These include Nigeria (78%), South Korea (63%), South Africa (61%), Brazil (59%) and India (56%).
Consensys highlighted that the inhabitants of these nations have demonstrated a remarkable understanding of the digital asset ecosystem, appreciating cryptocurrencies as the evolution of money, as an alternative to the traditional financial system and as a way to engage and participate in a global financial ecosystem, while in other countries, such as Indonesia and Japan, awareness about crypto assets is lower, with only 1 in 3 respondents saying they know what cryptocurrencies are.
“The main association with cryptocurrencies worldwide is that they represent the future of money.”
Regarding investment in cryptocurrencies, the company indicated that currently One fifth of the world's population owns some form of cryptoassetAccording to Consensys, there is also a high willingness to continue investing in the crypto ecosystem in the next 12 months, especially in countries such as Argentina and Brazil, which stand out among those with the highest proportion of the population that owns some digital asset, as well as where there is a greater intention to continue investing in cryptocurrencies in the near future, according to the report.
“In countries like Argentina and Nigeria, where the local currency is unstable, cryptocurrency is seen as an important way to access global capital and hedge against inflation.”
Less knowledge about Web3
In contrast to the global awareness of cryptocurrencies, Consensys found that only 8% of respondents said they were very familiar with the concept of Web3 and 24% said they had heard of it.
The blockchain technology company highlighted that many respondents are not aware of the potential offered by the next generation of the Internet and that there is a “disconnect between public perceptions of Web3 and its potential as a solution to problems related to privacy, identity and digital ownership.”
A large portion of respondents were also unfamiliar with NFTs. Consensys indicated that populations in the United States, India, South Africa, and especially Nigeria, are the most familiar with these cryptoassets, while populations in South American and European countries are not.
Privacy and security of personal data
The survey conducted by Consensys also revealed that personal data privacy is a widespread concern among the global population. 62% of respondents said that the privacy of their data is important, while 53% expressed the desire to have more control over their identity on the Internet.
Likewise, the study carried out by the company shows that people are increasingly more aware of the value they add to the web and the positive changes that the crypto/blockchain industry and Web3 can bring about by giving people “greater control over their data shared online and ensuring a fairer distribution of profits among creators,” the company said.
The results of the study conducted by Consensys are based on a survey applied by the company to more than 15.000 people, aged between 18 and 65, in 15 countries and 9 different languages.
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