A new comprehensive study commissioned by Coinbase and conducted by Ipsos sheds light on how people across four diverse nations view cryptocurrency and blockchain technology. The research, spanning Argentina, Kenya, the Philippines, and Switzerland, offers unique insights into how digital assets are reshaping financial perspectives globally.
The study, which surveyed 4,000 adults across these nations, reveals striking patterns in financial attitudes and cryptocurrency adoption. Despite their geographical and cultural differences, residents in all four countries express a shared desire for financial system improvements.
Financial System Dissatisfaction
Less than half of the respondents believe current financial policies will lead to better living standards compared to previous generations. The existing financial infrastructure is widely criticized as slow, expensive, and lacking innovation.
Key concerns vary by region:
- Kenya and the Philippines: Strong criticism of centralization and financial discrimination
- Argentina: Major distrust in financial institutions and savings challenges
- Switzerland: Relatively lower concerns, but wariness of bank-government relationships
Cryptocurrency as a Solution
The report indicates that 70% of respondents view cryptocurrencies and blockchain as potential solutions to their financial challenges. Both crypto owners and non-owners recognize digital currencies as tools for greater financial autonomy.
Notable findings include:
- Swiss respondents showed less enthusiasm for crypto compared to other nations
- 70% of Swiss crypto owners report increased financial control
- Kenya and the Philippines demonstrate the strongest support for crypto adoption
Regional Variations
The study highlights a correlation between financial system satisfaction and cryptocurrency interest. Countries with higher financial system dissatisfaction, particularly Kenya and the Philippines, show stronger support for crypto adoption.
Africa's potential for crypto adoption stands out, with Kenya exemplifying how regions with limited banking access but high smartphone penetration may lead the next wave of cryptocurrency adoption.
This report offers valuable insights into how different societies view the potential of blockchain technology to address their financial challenges, particularly in regions where traditional banking systems fall short.