In a nutshell

• a major new international survey reveals a striking lack of agreement regarding whether cryptocurrency improves online experience.
• YouGov conducted a survey of 15,158 people in 15 nations and discovered a divide between developed and developing economies.
• There is a lot of awareness of cryptocurrencies, but not much faith in their potential as the future of money.

Only about half of respondents, according to a new survey conducted by YouGov and Consensys, believe that crypto has any value for the internet. Huge quantities of individuals actually partner crypto with tricks, particularly when offered on the web. An industry that has failed to make a case for wider adoption should be concerned by the findings.

YouGov’s poll covers a wide range of topics. The organization communicated with 15,158 people between the ages of 18 and 65 in 15 countries. The countries included Argentina, Brazil, France, Germany, India, Indonesia, Japan, Mexico, Nigeria, South Africa, South Korea, The Philippines, UK, the US, and Vietnam.

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YouGov: Wealth Gap Shapes Perspectives on the Future of Money

The study provides a valuable snapshot of ordinary people’s perspectives, revealing widespread concern regarding the modern internet’s digital reality. However, the majority of them have not yet connected their solutions to Web3 or cryptography.

Over 92% of people are aware of crypto, according to the findings. However, only one third of respondents to the survey “expressed beliefs in its potential as the future of money.” Only 31% thought it was ownership’s future.

In addition, a significant number of respondents perceived crypto’s easy online accessibility as having drawbacks. 25% of respondents linked it to scams, while 26% linked it to speculation.

The data indicate that the gap between many middle-class and rich economies is getting wider. The survey found that 44% of Mexicans, 50% of South Africans, and 58% of Nigerians thought crypto would be the future of money. However, only 17% of Germans and 15% of Brits agreed.

Terms Like Web3 Failing to Cut Through

However, other industry terms that are used a lot aren’t getting through. Only 8% of those polled believe they are very familiar with the concept of web3. However, NFTs (34%) and the Metaverse (36%) performed slightly better.

However, there is still cause for optimism. Those who are sceptical about the Web2 model might find something to like about the decentralized web. 58% of respondents across all age gatherings “firmly concurred” that they would like more control of their web personality. Globally, 83% of respondents regarded data privacy as important.

Proponents of blockchain, Bitcoin (BTC), and other cryptocurrencies would say there are ready-made solutions. But not everyone believes them.