Nigeria Tops Brazil, France, Other Most Crypto-Savvy Countries – Report

[ad_1]

The researchers interviewed a representative sample of more than 15,000 people in several countries, including Nigeria, between April and May.

Despite reservations about online trading in the country, a new report has ranked Nigeria as the most crypto-savvy country, ahead of Brazil and France.

The survey conducted by leading software technology company Web3, Consensys, said Nigerians had demonstrated overwhelming crypto awareness.

The survey, conducted online by international online data research and analysis technology group YouGov, interviewed a representative sample of more than 15,000 people in different countries, including Nigeria, between April and May.

The 15 countries where the fieldwork for the data collection exercise was conducted are Argentina, Brazil, France, Germany, India, Indonesia, Japan, Mexico, Nigeria , South Africa, South Korea, Philippines, United Kingdom, United States and Vietnam.

Unveiling the data gathered from the Global Web3 and Cryptography Survey, Consensys revealed that 99% of Nigerian respondents demonstrated knowledge of cryptography, and more than 70% accurately guessed what a blockchain, which is the highest among all the countries studied.

“The result also showed that Nigerians believe in the future of crypto as many Nigerian respondents expressed confidence in the potential of crypto as the future of money (58%) and the future of digital property (48%), surpassing those who see it as a form of speculation (9%) or fraud (6%).

“The desire for increased ownership was also demonstrated, with 90% of Nigerian respondents believing they add value to the internet, while 87% believe they should own what they do on the internet. However, only 48% of Nigerian respondents believe they are sufficiently compensated for the value and creativity they add to the internet,” reads the report.

Data privacy issues

According to the report, the positive tone of Nigerian respondents was almost marred by recorded concerns about data privacy issues in the country.

Ninety-six percent of Nigerian respondents said data privacy was important to them. By comparison, 88% believe they should have a share of the profits a company makes from their data, and 95% would like to have more control over their internet identity, the report says.

“Overall, Nigerians are proving to be active builders, embracing Web3 technologies and the space and agency it affords them to thrive in ways not possible before and helping them to build the future they want for themselves,” the report said.

Sign up for free AllAfrica newsletters

Get the latest African news straight to your inbox

Hit!

Almost done…

We need to confirm your email address.

To complete the process, please follow the instructions in the email we just sent you.

Error!

A problem occurred while processing your submission. Please try again later.

More information

The result of this survey is now available and will provide insight into how people understand Web 3 and cryptocurrency and their level of integration around the world.

Web3 is a decentralized version of the Internet that allows users to own their data.

The survey gathered responses from 15,158 people aged 18 to 65 between April 26 and May 18. in 15 countries in Africa, the Americas, Asia and Europe. Of this number of people in the survey, 1,000 are from Nigeria, which is more than 100%.

The findings offer compelling and unique insights into Nigerians’ overall understanding and opinions of the Web3 and crypto ecosystem, beyond other surveys that consider people’s perceptions of investing in crypto assets.

Another positive aspect of this survey explores topics such as digital property, the future of money, data privacy, and the recent news cycle.

The researchers said the findings revealed that Nigerians, along with the rest of the world, are motivated to build and believe they are making valuable contributions online.

[ad_2]