Consensys’ “Global Survey on Crypto and Web3” Reveals Support for Underlying Web3 Concepts, And an Opportunity For Broader Education

FORT WORTH, Texas–(BUSINESS WIRE)–#builder–Today, leading web3 software technology company, Consensys, unveils a first-of-its-kind global opinion survey on crypto and web3, conducted online by international online research data and analytics technology group, YouGov. The survey polled a representative sample of 15,158 people aged 18-65 between April 26th and May 18th, 2023 in 15 countries across Africa, the Americas, Asia, and Europe. The results offer captivating and unique insights into the public’s overall understanding and views of the web3 and crypto ecosystem, and the internet more broadly, going beyond other surveys limited to perceptions around investing in crypto assets. The survey explores topics such as data privacy, the crypto carbon footprint, the recent news cycle, and digital ownership. Results reveal that people worldwide believe they are making valuable contributions online, and that the drive to build for the future is a ubiquitous motivation both online and off. This data indicates a shift in user behavior toward active participation, empowerment, and broader community ownership.

Fieldwork was conducted in 15 countries: Argentina, Brazil, France, Germany, India, Indonesia, Japan, Mexico, Nigeria, South Africa, South Korea, The Philippines, UK, the US, and Vietnam.

From “Users” to “Builders”: A Paradigm Shift

The survey results present a compelling picture characterized by widespread awareness of crypto and a strong desire for ownership, coupled with confidence in a crypto-led future:

• Overwhelming crypto awareness: 92% of participants demonstrated awareness of crypto;
• Net positive beliefs in crypto’s future: When asked about the main concepts associated with crypto, more than one-third of those familiar with the industry expressed beliefs in its potential as the future of money (37%) and the future of digital ownership (31%), surpassing associations with speculation (25%) or scams (26%);
• A desire for more ownership: 50% of respondents believe they add value to the internet, while a notable 67% believe they should own the things that they make on the internet and 70% believe that they should have a share of the profit a company makes from their data. Only 38% of respondents believe they are adequately compensated for the value and creativity they add to the internet;
• Concerns around data privacy: 83% of respondents said that data privacy is important to them, and 79% would like to have more control over their identity on the Internet.

YouGov’s full global report as well as country-level executive summaries are available here.

The results of the survey reveal increasing mainstream desire for more control over online identity, the data we share, and the more equitable sharing of profits with those who are helping build platforms through their contributions. In this new world, web3 and crypto enable a global peer-to-peer network that empowers individuals. Web3 helps to address these desires by shifting control of identity from third parties to the individual, and establishing new paradigms of value creation and community formation. People engaging with crypto and web3, whether developing software, staking crypto-assets, or creating or purchasing NFTs, are more than a ‘user’ as typically defined, but directly contributing to and helping build their communities and the ecosystem overall.

Consensys sees the empowerment of the builder as fundamental to its purpose, and is focused on supporting people everywhere to see the potential of web3, the role it can play in their lives, and the tools they need to get started. Today, Consensys reveals an evolved brand identity which encourages people to see themselves and the world differently: reframing “builder” to be more inclusive of artists, community creators, collectors—and ultimately, everyone. Further details about Consensys’ brand evolution can be found here.

Joe Lubin, Founder and CEO of Consensys, said, “The survey confirms the emergence of a decentralized trust paradigm that empowers users and communities. The era of the builder aligns with the web3 ethos where everyone can contribute. Consensys aims to be a trusted steward for builders and developers, supporting community empowerment and positive global impact.”

Contrasts in Web3 Awareness Between Countries

The survey conducted across different regions of the world also highlights interesting contrasts between countries on various web3 and crypto-related topics:

• Motivations to own crypto: Nigeria (65%) and Argentina (56%) show the highest motivation to own cryptocurrencies as a means to store value, given the instability of their local currencies;
• Beliefs that they add value to the internet: 67% of respondents in Nigeria strongly believe they add value to the internet, while only 5% of respondents in Japan do;
• NFT ownership: Respondents in Nigeria, South Africa and Vietnam are the most familiar with the concept of an NFT. Among respondents familiar with the concept of NFTs, 76% of respondents in the UK have never owned an NFT, compared to only 24% of respondents in Vietnam;
• Future of Money: 58% of Nigerians, 50% of South Africans, and 44% of Mexicans say the future of money is one of the main concepts they associate with cryptocurrencies, while only 15% of Brits and 17% of Germans said the same;
• Concerns around scams: People in the US (19%) and UK (20%) are more likely to be concerned about scams compared to Japan and Korea (12% each);
• Crypto carbon footprint: 57% of respondents in Brazil think that crypto is an environmentally friendly technology while only 25% in France think the same.

Inspiring the Builder in Everyone with a Global Virtual Hackathon

Everyday, everywhere, people are embracing the power of web3 and crypto to become builders of the new internet. Consensys is announcing the launch of a global virtual hackathon to help unite builders across the globe and empower them to build solutions for the future. The hackathon is open to all participants of all experience levels: whether joining a team and submitting a project, or just attending introductory sessions to learn more, there’s something for everyone. More information regarding the hackathon is available here.

Consensys met a few of the builders who shared their unique perspective with the world:

• Harshit & Nitish – DJ and Producer (India): “Web3 communities understand where an artist is coming from. The music industry has been structured with centralized authorities controlling its growth. Web3 changes this by enabling fans to directly contribute to an artist’s success. Musicians now have the power to create unique experiences and connect with fans directly. The values, determination, and boldness of the people in this community inspire us. We see ourselves in them, trying to make a positive impact and improve lives. That’s what keeps us glued to this new community.”
• Mika Black – AnuuWay (USA): “Web3 removes the boundaries and inspires people to go seek out their tribe and grow together. It allows them to create the world that they want to see. It’s empowering to the world-changers.”

To celebrate its new brand identity, Consensys is also revealing a new HQ in Decentraland.

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About Consensys

Consensys is the leading blockchain and web3 software company. Since 2014, Consensys has been at the forefront of innovation, pioneering technological developments within the web3 ecosystem. Through our product suite, including the MetaMask platform, Infura, Linea, Truffle, Diligence, and our NFT platform, we have become the trusted collaborator for users, creators, and developers on their path to build and belong in the world they want to see. Whether building a dapp, an NFT collection, a portfolio, or a better future, the instinct to build is universal. Consensys inspires and champions the builder instinct in everyone by making web3 universally easy to use and develop on. To explore our products and solutions, visit http://consensys.io/.

Contacts

Media:
pr@consensys.net