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40% of average consumers would participate in the Web3 economy with better education.

Hi, Grant here,

In 2022 I analyzed a survey of 29,293 adults in 20 countries to learn more about the attitudes, drivers, and adoption of crypto.

First, the research established a benchmark for how much people know about cryptocurrency.

Second, they looked at why people do or don't own crypto.

Lastly, they examined how people feel about the role of crypto in the future of finance and the global economy.

Thanks to Gemini for providing the data for this report.

Here's a Summary of Our Key Findings

1. 2021 was a breakout for cryptocurrency. The market reached an all-time high in investments, adoption, and awareness.

2. Curiosity across the crypto asset class is high, with 41% of respondents interested in learning more about digital assets.

3. Crypto education is the key to unlocking mass adoption. 40% of respondents said they would own cryptocurrency if they knew more about it.

4. Security, volatility, and trust remain the top concerns for would-be cryptocurrency owners. 27% of respondents don't own crypto because it's too risky.

5. Regulation continues to plague the industry, with 37.3% of respondents saying that unclear regulation is a primary reason they don't own cryptocurrency.

6. Tax complexities of owning cryptocurrency are also a central pain point, with around 26.0% of respondents saying it's a primary reason they don't own cryptocurrency.

7. The use case that resonates most with people is "hedging inflation," with 58.5% of respondents citing it as a primary reason for owning cryptocurrency.

8. Gender gap shrunk down drastically in developing countries, with little difference in developed countries. The 2022 ratio was 53% and 47% for males and females, respectively.

9. Diversity gap in the US continues to narrow down. 17% of Black Americans owned cryptocurrency in 2022 compared to 9% in 2020.

10. Crypto is seen as a store of value and long-term investment. 79% of respondents said they plan to hold their crypto.

11. People are beginning to view cryptocurrency as an alternative to fiat currency, with 42% of respondents saying they would use crypto as their primary form of payment if given the option.

You can find more details here, but No 3. was the most interesting to me.

What would make you more comfortable participating in Web3?

Globally, the most popular reason was "Educational resources."

Educational resources (40%) would help twice more people invest than those who said they needed a recommendation from friends (19%).

Other popular reasons included recommendations form "siblings or cousins" (12%), "blogs and podcasts" (10%), "parents" (9%) and "children" (6%).

The truth is, there are plenty of resources out there.

The problem is that people don't know where to look, or they're overwhelmed by the amount of information.

While most tutorials and guides are helpful, others treat this asset class as a get-rich-quick scheme.

To ensure that people get the education they need, we've compiled a list of trustworthy resources in our next article.

Also, alongside education, if platform UIs can be more beginner-friendly, it'll go a long way to help new investors feel comfortable and familiar with the space.

In short, we need more education and utility to drive the mass adoption of cryptocurrency.

We started the "nxtweb.org", to help people understand blockchain technology.

What to expect:

1. Beyond blockchain, we'll explore futurology, AI, fintech, and tech growth hacking.

2. We'll also provide guides on implementing blockchain into everyday life and business.

3. For the tech-savvy, we'll get into the nitty-gritty of coding and development.

4. We'll also touch on cryptocurrencies... because why not?

5. Our goal is to help people understand the potential of this technology and its implications for the future.

If you're interested in learning more about cryptocurrency, subscribe to our mailing list here!

About Grant Ejimone

Before now, I've worked with 218+ businesses and startups on their digital marketing strategy, including Numerated, 2Checkout, ReGrow, and OFF-PHARm.

I'm currently the Chief Marketing Officer at a blockchain startup.

Also, I've grown two 8-figure ARR companies from the ground up.

I'm also an advisor/consultant for several companies in the space Bank of Business.

This is a side project. I'm actively serving in a church and raising three kids alone (two in college already).