PANews reported on December 12 that Consensys released the latest Web3 survey conducted in partnership with YouGov. The survey further confirms the high penetration of cryptocurrencies in emerging markets, with Nigeria standing out, followed closely by South Africa. The five jurisdictions most likely to invest in cryptocurrencies in the next 12 months are Nigeria (93%), South Africa (77%), the Philippines (59%), India (58%), and Indonesia (54%). The least likely to purchase are Europeans, Canadians, and Japanese. UK respondents scored the lowest (15%), with the US at 41%, positioned between Brazil (43%) and Argentina (39%).
As for the main factors hindering investment, they include volatility, scams, and the lack of entry-level knowledge. A considerable number of people do not understand the purpose of blockchain or find it too complicated, thus believing this investment is only suitable for those who are technically proficient. Additionally, 47% of respondents indicated that the current banking system works well but still has room for improvement. However, 18% believe a complete overhaul is necessary, while 19% think that maintaining the status quo is sufficient.