Crypto and Web3 survey: the time is now!
A recent study delivers intriguing insights into the status quo of crypto and Web3 in society.
Crypto and Web3 have gained widespread support
The revolutionary approach behind crypto and Web3 is characterized by certain values: more autonomy and ownership of content produced by users, who can carve out a new identity as a result – seeing themselves as builders rather than just passive consumers.
The market research institute YouGov recently conducted a study on behalf of Consensys, a producer of blockchain software technology, to gauge how society views those principles and what it wants the Internet to look like going forward. People from 15 countries across the world were asked about these and other aspects, revealing that the majority share the values associated with Web3 and crypto.
Results of the crypto and Web3 study in detail
The international survey produced some interesting results:
It emerged that the respondents have a heightened awareness of the content they produce. In particular, they feel that profits generated from this content should no longer be hoarded by the platform providers, but instead be distributed fairly. That includes sharing profits with the people who fill these online platforms with entertaining or informative content.
The survey results reveal a significant shift in the behavior of Internet users toward an active, autonomous role and greater collective ownership of content shared online. That is aligned with the objectives of the global Web3 movement, which aims to revolutionize the Internet using new technologies and principles.
Crypto scene delighted by the survey results on Web3 and NFTs
Vicktoria Klich co-founded w3.fund, which will be hosting the w3.vision Web3 conference at DMEXCO on September 20 & 21, 2023. The crypto and Web3 expert was pleasantly surprised by the study’s findings:
“I wasn’t expecting these results, so it’s all the more pleasing to hear that the solutions aren’t far off in terms of meeting user expectations.”
By that, she means the technological solutions and ideas of Web3, but also acknowledges that there are still certain difficulties in really making them accessible to the wider population: “Many people probably don’t know yet that NFTs and cryptocurrencies can help them achieve the goal they’re working toward. Unfortunately, public perception of NFTs is still that they are predominantly an investment case rather than the technological foundation of a new Internet. In personal conversations, I also frequently notice that there are still a lot of misconceptions about Web3 that need to be dispelled.”
Artificial intelligence is making Web3 all the more vital
The survey results show that users clearly want to have more say about their own content. However, to enable that, there needs to be the technological means to identify content creators. Klich feels that there is a significant difference between Web2 and Web3 in this respect, and at the same time she highlights the impact of AI: “Especially with AI in the picture, it is absolutely essential to establish the originality of content, which ideally will have been created by humans. The source should always be traceable and verifiable.” Blockchain technology makes that possible, but it is still not being implemented enough.
Important next steps for crypto and Web3
The solutions for building Web3 according to what users want are constantly evolving. NFTs and blockchain technology now make it possible to prove ownership status of assets on the Internet and enable creators to determine how their content can be used. However, Klich identifies a major problem in integrating this technology into the day-to-day lives of users: “We already have a really good technological infrastructure and it’s constantly improving, but not many solutions can be used on this infrastructure. Wallets and the like are usually not developed for use on mobile devices. In this sense, hardly a single Web3 app exists; instead, users have to open websites in their smartphone’s browser.”
“We need a UX that actually makes our lives easier and doesn’t simply tell us we should invest in crypto.” – Crypto and Web3 expert Vicktoria Klich (co-founder of w3.fund)
Versatility as a major strength of crypto and Web3
Moreover, the Internet, and by extension also Web3, are global issues, as reflected in the Consensys survey, which was conducted in 15 countries and brought certain differences to light when it comes to the use of Web3 solutions across the world. For example, while company loyalty programs and interactive options are moving to the blockchain in Europe, the focus in South America is often on using crypto and wallets to implement a new currency standard across the board, such as Bitcoin.
Klich doesn’t view these differences as weaknesses of Web3 and its community, but rather as strengths: “I don’t understand why these applications are regarded as separate entities so frequently. Personally, I think it’s important to show that blockchain technology can have an endless number of facets. It’s not just there to perform transactions, it can also be used to solve various problems creatively. To do that, you need to think globally and involve people with different views.”
Success of crypto and Web3 is rooted in their principles
Web3 is now pretty much unstoppable – at least if the survey referenced here is anything to go by, since the results revealed widespread support for the ideas and technologies behind this new Internet. However, despite the concept’s past success and the ongoing Web3 trend, considerable action is still required. w3.vision being held in September as part of DMEXCO will provide an opportunity for that. There, the visionaries of the scene will come together to interact, present technologies, and shape the future of the Internet.