Crypto and Web3 in 2023: Is the Movement Dead or the Dawn of a New Era?

“Crypto and Web3 are dead,” some may proclaim, but they must be missing a beat or two in the rhythm of the future. The digital landscape is evolving, and people are not just adjusting – they are embracing the transformation. You don’t have to take my word for it; the numbers speak for themselves.

A colossal survey orchestrated by Consensys, the leading web3 software technology company, and international analytics group YouGov, polled 15,158 individuals across 15 countries. The results? They paint a vivid picture of how сrypto and Web3 are reshaping our online existence.

From “Users” to “Builders”: A Paradigm Shift in Crypto and Web3

The Builder Revolution

Once upon a time, we were users of the internet. Passive, observing, and consuming. The survey results reveal that those days are becoming history. The story of сrypto and Web3 in 2023 is about empowerment, active participation, and community ownership.

• Understanding and Ownership: 92% of participants demonstrated awareness of crypto, with 67% believing they should own what they make online.
• Adding Value, Seeking Compensation: 50% believe they contribute to the internet’s worth, but only 38% feel adequately rewarded for it.
• The Future of Money and Digital Ownership: More than one-third of the respondents associated crypto with the future of money (37%) and digital ownership (31%), overshadowing perceptions of speculation or scams.

You and I are not merely users anymore; we are builders, creators, and participants in a space that is ever-expanding. сrypto and Web3 are not merely buzzwords; they are the frameworks for a new era.

Texas’s Tech Giant’s Response: Consensys Embraces Change

Consensys didn’t just commission a survey. They also launched an evolved brand, redefining the ‘builder’ as inclusive of everyone. The core message encourages fresh perspectives on how the сrypto and Web3 paradigm shift can empower us all.

Image credit: consensys.io

Concerns and Challenges: Not Just Roses and Rainbows

Of course, the сrypto and Web3 journey isn’t all glitz and glamor. There are still concerns and challenges:

• Data Privacy: A significant 83% of respondents marked data privacy as vital, and 79% wished for more control over their online identity.
• The Crypto Carbon Footprint: While the survey didn’t dive deep into this, the carbon footprint and environmental impact of crypto remain ongoing debates.

Digging Deeper: A Cultural, Geographical, and Generational Perspective

The striking results of the сrypto and Web3 survey aren’t just numbers on a paper. They tell stories—stories from different continents, cultures, and generations.

The Geographical Spread: Unifying the Globe

From Argentina to Japan, South Africa to the UK, the survey included 15 countries, showcasing how сrypto and Web3 are erasing borders and creating a universal digital language. The heart  lies in collaboration, decentralization, and worldwide participation.

The Generational Beat: Young and Old Building Together

The age range of 18 to 65 in the survey participants speaks volumes. crypto and Web3 are not just a Gen Z trend or a millennial fixation. They are attracting, involving, and inspiring individuals across the age spectrum. Whether a tech-savvy teenager or a seasoned professional reflecting on retirement, the idea of digital ownership and empowerment resonates.

Challenges, Concerns, and Potential Pitfalls

The optimism around сrypto and Web3 should not overshadow the real challenges and concerns. It’s important to look at the ecosystem with a critical eye:

• Regulatory Landscape: Different countries have varying approaches to regulating cryptocurrencies. The patchwork of rules and regulations across jurisdictions can be both an opportunity and a challenge for growth and adoption.
• Security and Fraud: With 26% associating crypto with scams, there is a lingering shadow of doubt. Ensuring robust security measures and educating users can be crucial in building trust.
• Accessibility and Inclusion: crypto and Web3 promise to democratize the internet, but is it accessible to all? Bridging the digital divide and ensuring that Crypto and Web3 are not just for the elite tech-savvy must be a priority.

Educating the Masses: The Path to Enlightenment

The positive perception of сrypto and Web3 is encouraging, but education must not lag behind. A collective effort is required from industry leaders, governments, and communities to ensure that everyone understands what сrypto and Web3 truly mean and how they can be a part of this revolutionary shift.

Corporate Initiatives and Social Responsibilities

Companies like Consensys are stepping up, not only by commissioning insightful surveys but by actively engaging in community building and education around сrypto and Web3. Their evolved brand’s core message is a testament to a more inclusive future. More corporate entities must follow suit, aligning business goals with social responsibilities.

Crypto and Web3: What’s Next?

So, is сrypto and Web3 dead? Far from it. The Consensys-YouGov survey showcases a digital population increasingly aware, engaged, and demanding more from the online world.

Crypto and Web3 are not only alive; they’re flourishing, sparking conversations, and igniting a global shift from users to builders. In the words of Consensys, it’s a paradigm shift, and it’s only the beginning.

In 2023, as we stand at this fascinating intersection of technology, creativity, and ownership, the question is not whether сrypto and Web3 are dying but how they are living, evolving, and defining our digital destiny.

The death of сrypto and Web3? That’s a myth. The future? That’s a revolution. Welcome to the era of builders.

Source: LinkedIn