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 and covered 18 countries and regions including Africa, the Americas, Asia, and Europe.

This survey continues the key issues from the 2023 report and introduces new topics, delving into public concerns about data privacy exposure, the intersection of Web3, decentralization, artificial intelligence, and blockchain, and focusing on popular topics such as the regulatory compliance of cryptocurrency spot ETFs. Based on the survey results, an analysis by region is provided, offering insights into Web3, cryptocurrencies, and decentralization, and disclosing opportunities and challenges in education and application. The following are a few key points from the official press release.

Awareness and Participation in Cryptocurrencies Continue to Rise

Globally, 93% of respondents reported that they have heard of cryptocurrencies, an increase of 1% from last year. Among them, 51% of respondents indicated that they understand the basic concepts of cryptocurrencies. 42% of respondents stated that they currently own or have previously purchased cryptocurrencies, with significant increases in ownership in the Philippines (+7%), Mexico (+8%), Germany (+7%), South Africa (+7%), and Japan (+4%).

Increased Participation in Web3

Among the 11 major Web3 activities globally, participation has increased in 10 of them, including collecting NFTs (+3%), using decentralized finance (+4%), participating in blockchain gaming (+3%), owning Web3 wallets (+6%), and participating in staking services (+3%), with the number of people engaging in Web3 activities growing year by year.

Increased awareness and acceptance of decentralization

More than half of the respondents from markets such as the United States, Nigeria, South Africa, and India (58%) indicated that they have a considerable understanding of decentralization, showing that decentralization is gradually becoming more prevalent globally.

Building Confidence to Restructure the Financial System

Most respondents believe that the current financial system needs reform, and more people compared to last year (+2%) think that the existing financial system should be restructured.

Web2 and Decentralized Power Distribution

Globally, 80% of respondents believe that Web2 institutions have overly concentrated power, and more than a third of respondents believe that social media platforms and international banking and remittance payment systems would benefit from a decentralized revolution.

Concerns about artificial intelligence

Over 75% of respondents expressed concerns that artificial intelligence might bring about fake news and fraud, with 54% of respondents believing that blockchain technology can help mitigate risks.

Emerging Market Cryptocurrency Proliferation

The popularity of cryptocurrencies, Web3, and blockchain has significantly increased in emerging markets such as Nigeria, India, and South Africa, while development in certain regions of Europe, North America, Japan, and South Korea has been somewhat slow.

Key Findings from the 2024 Survey

Personal data privacy exposure issues

Globally, 83% of respondents indicated that data exposure is their biggest concern. Only 46% of respondents believe that their internet service providers can properly handle personal data. Most respondents (78%) wish to have better control over their online identities and benefit from disclosing personal data. Only 39% of respondents believe that they receive adequate returns for the value they create from their online activities.

Concerns about artificial intelligence

Respondents generally expressed concerns about the potential negative impacts of artificial intelligence (such as fake news and fraudulent content). Over 75% of respondents are aware of these issues, and 54% believe that blockchain technology can help reduce risks, further emphasizing the potential of blockchain technology in the future digital ecosystem.

The perspective of Consensys founder Joseph Lubin

Joseph Lubin, co-founder of Ethereum and founder and CEO of Consensys, emphasized that blockchain and decentralized technologies aim to enhance the management of sensitive data, and their role in improving trust and transparency should not be overlooked. The survey results not only highlighted the importance of data privacy issues (with up to 83% of respondents stressing this point), but also revealed people's concerns about the exploitation of personal data and misinformation, which are urgent issues facing the global proliferation of artificial intelligence. He added that we can see an ongoing growth and application of the cryptocurrency, blockchain, and Web3 ecosystem each year, with 2024 set to be a key year for cryptocurrencies, as many factors are rapidly converging to drive society toward a fairer and more decentralized future.

The survey results indicate that global attention and acceptance of cryptocurrencies, Web3, and blockchain are gradually increasing. However, the demand for education and consensus still exists, especially as various challenges remain in promoting the wider adoption of Web3 and decentralization, with personal data exposure being the greatest concern. This calls for achieving universal consensus on the blockchain knowledge revolution among institutions and individuals. The future development of blockchain and cryptocurrencies is expected to grow strongly in 2025, especially with significant potential in emerging markets.

This article, ConsenSys Global Cryptocurrency and Web3 Survey Report: Rising Popularity in Markets such as Nigeria, India, and South Africa, first appeared in Chain News ABMedia.