A comprehensive global survey conducted by Consensys and YouGov reveals that cryptocurrency awareness has reached an all-time high of 93%, while confidence in traditional financial systems continues to decline.
The study shows that over half of respondents now claim to understand cryptocurrency technology, with men aged 25-44 displaying the highest levels of familiarity. This demographic trend aligns with patterns observed in previous years.
Ownership rates paint an interesting picture across regions, with 42% of global participants reporting current or past cryptocurrency investments. African and Asian nations lead adoption rates, with Nigeria topping the list at 73%, followed by South Africa (68%), and several Asian countries including the Philippines and Vietnam at 54% each.
However, barriers to wider adoption persist. Market volatility remains the primary concern for 20% of respondents, while scam risks (17%) and uncertainty about getting started (14%) also deter potential investors.
The survey uncovered growing skepticism toward centralized platforms, with 82% of respondents expressing distrust in Web2 companies' dominance. This sentiment coincides with increasing privacy concerns, as 83% of participants prioritize data protection, yet only 46% trust their internet service providers with sensitive information.
Traditional financial systems face mounting scrutiny, with merely 47% of respondents viewing them as effective. This dissatisfaction appears strongest in regions like Nigeria, Indonesia, and the Philippines, where demand for financial innovation correlates with rising cryptocurrency interest.
Consensys Founder and CEO Joseph Lubin noted the survey's implications for data privacy and misinformation concerns, particularly relevant amid global elections and AI advancement. The findings suggest blockchain technology could help address these challenges, with 54% of respondents believing it could help mitigate AI-related risks.
The research indicates a clear shift in global financial perspectives, as cryptocurrency awareness grows while trust in conventional systems wanes. This trend appears particularly pronounced in developing economies, where cryptocurrency adoption rates continue to surge.