Crypto and Web3: Bridging the Knowledge Gap in a Digital Future

What the Latest Survey Reveals About Crypto and Web3 for Gen Alpha

The second annual ConsenSys survey gives us a glimpse into how people worldwide are reacting to cryptocurrencies and Web3 technologies. The results show that while crypto is becoming more widely known, Web3 is still a mystery to many. Let’s break down the key takeaways, especially for Gen Alpha, who will shape the future of these technologies.

Crypto is Known, But Not Fully Understood

• 93% of people globally know what cryptocurrencies are, but only half understand how they work.
• 42% have either bought or currently own crypto. Countries like Nigeria, South Africa, and the Philippines are leading in adoption.

Web3 is Growing, But Still Confusing

• People are increasingly engaging in Web3 activities like buying NFTs, using decentralized finance (DeFi), and playing blockchain-based games.
• However, many still don’t fully grasp what Web3 is. For example, awareness is low in Japan, South Korea, and parts of Europe, while countries like Nigeria, South Africa, and India are embracing it.

People Are Worried About Online Privacy

• 83% say protecting their data online is important, but only 46% trust their internet providers to keep it safe.
• 75% are concerned about AI creating fake news and fraudulent content, and over half believe blockchain can help solve this issue.

The Financial System Needs an Overhaul

• Many believe the current financial system needs major changes. In countries like Nigeria, Indonesia, and the Philippines, 18% think the system should be completely rebuilt.
• People also see Web3 as a way to reduce the power of big corporations and give individuals more control over their data and digital lives.

Web3 is Still a Mystery to Many

• While crypto is widely known, only 33% of the global population truly understands Web3. This highlights a huge opportunity for education, especially since Web3 could revolutionize how we own things online and protect our data.

Different Regions, Different Perspectives

• In countries like Nigeria and South Africa, crypto is seen as a way to protect wealth from currency instability. In Europe and Japan, interest is more muted.
• NFTs are gaining traction in Nigeria and South Africa, but interest is declining in the UK.

The Bottom Line

The ConsenSys survey shows that interest in crypto and Web3 is growing globally, especially in emerging markets. But for Gen Alpha, the key takeaway is this: there’s still a lot to learn. As these technologies evolve, education will be the key to navigating the future.

TLDR: Key Takeaways

• Crypto is known, but not fully understood.
• Web3 is growing, but still needs explaining.
• Privacy and data control are top concerns.
• The financial system needs change, and Web3 could help.
• Gen Alpha will shape the future of these technologies, so education is crucial.