A study conducted by YouGov and Consensys has found that only around 50% of respondents believe that cryptocurrencies add value to the internet. Many people still associate crypto with scams, particularly when offered online. This is concerning for an industry that is struggling to make a case for wider adoption. The study reached out to over 15,000 individuals in 15 countries, aged between 18 and 65. While the majority of respondents are aware of cryptocurrencies, only about one-third believe in its potential as the future of money. Additionally, a significant number of respondents view crypto’s online accessibility as a negative, with 25% associating it with scams and 26% with speculation. The study also highlights a gap between richer and middle economies, with a higher percentage of respondents in countries like Nigeria, South Africa, and Mexico associating crypto with the future of money compared to countries like Britain and Germany. Despite this, terms like Web3 are still not widely understood, with only 8% of respondents considering themselves very familiar with the concept. However, there is room for optimism, as the idea of a decentralized web resonates with those who are skeptical of the current Web2 model. A majority of respondents across all age groups expressed a desire for more control over their internet identity, and data privacy was considered important by 83% of respondents globally. While proponents of blockchain and cryptocurrencies believe there are solutions to address these concerns, not everyone is convinced.
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