Consensys Survey Reveals Global Sentiments on Crypto, Web3, and Data Privacy in 2024

Leading blockchain and web3 software technology company, Consensys, unveils the findings of its second global opinion survey on crypto and web3, conducted online by international online research data and analytics technology group YouGov. As a follow-up to the initial report published in 2023, Consensys expanded the scope of the survey, reaching over 18,000 individuals aged 18-65 in 18 countries across Africa, the Americas, Asia, and Europe.

With a mix of identical questions from the previous survey designed to gain an understanding of changing sentiment, and new questions aimed at addressing current themes and trends, the survey explores topics such as data privacy, awareness, ownership and web3 activity, decentralization, timely news events like the approval of spot crypto ETFs, and the intersection of artificial intelligence (AI) and blockchain. The results, broken down to showcase geographic trends, offer valuable insights into the public’s understanding and perceptions of web3, crypto, and decentralization, and reveal ongoing challenges and opportunities for education and adoption.

The critical role of blockchain and decentralization in enhancing privacy, trust, and transparency for how our data is managed cannot be overstated. Our latest survey not only highlights the rising importance of data privacy, with 83% of respondents emphasizing its significance, but also sheds light on pervasive concerns about exploitation and misinformation, a pressing issue amid global elections and the mainstream adoption of AI.

Every year, we continue to see positive momentum for the growth and adoption of crypto, blockchain, and web3 — the re-decentralized web. 2024 has been a monumental year for crypto for a variety of reasons, which are rapidly converging to move society and the right direction espoused by the web3 ecosystem, towards far greater economic, social, and political agency for all people and communities. The recent U.S. presidential election may lead to significant regulatory clarity, for example. As the world embraces the potential of decentralization and crypto, our industry stands ready to support and empower the next wave of users through education and innovation while solving some of our world’s most complex challenges.

– Joseph Lubin, Co-Founder of Ethereum and Founder and CEO, Consensys

Globally, 83% of respondents say data privacy is a top concern, but less than half (46%) trust how their Internet Service Providers handle their data and sensitive information. Additionally, 3 out of 4 people (78%) surveyed say they want more control over their online identity and a share of profits from their data — with only 39% of those surveyed feeling they are adequately compensated for the value they add to the internet. Concerns about AI’s potential for generating malicious content are also widespread, highlighting an emerging phenomenon. More than 75% are concerned about AI generating fake news and fraudulent content, with the highest concerns in Nigeria and South Africa.