The researchers polled a representative sample of over 15,000 people across 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 web3 software technology company, Consensys said Nigerians had displayed an overwhelming crypto awareness.
The survey, conducted online by the international online research data and analytics technology group YouGov, polled a representative sample of over 15,000 people across countries, including Nigeria, between April and May.
The 15 countries where fieldwork for the data-gathering exercise was conducted are Argentina, Brazil, France, Germany, India, Indonesia, Japan, Mexico, Nigeria, South Africa, South Korea, The Philippines, the UK, the US, and Vietnam.
Unveiling the data gathered from the global survey on web3 and crypto, Consensys revealed that 99 per cent of Nigerian respondents demonstrated awareness of crypto, and over 70 per cent accurately guessed what a blockchain is, which is the highest among all countries surveyed.
"The result also showed Nigerians believe in the future of crypto, as many Nigerian respondents familiar expressed belief in crypto's potential as the future of money (58%) and the future of digital ownership (48%), surpassing those who see it as a form of speculation (9%) or scam (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 make on the internet. However, only 48% of Nigerian respondents believe they are adequately compensated for the value and creativity they add to the internet," the report reads.
Data privacy concerns
According to the report, the positive tone of Nigerian respondents was almost marred by concerns registered around data privacy issues in the country.
Ninety-six per cent of the Nigerian respondents said that data privacy is important to them. In comparison, 88 per cent believe they should have a share of the profit a company makes from their data, and 95 per cent would like to have more control over their identity on the Internet, the report states.
"Overall, Nigerians prove to be active builders, embracing Web3 technologies and the space and agency it affords them to thrive in ways that were not possible before and helping them build the future they want for themselves," the report reads.
More Insights
The result of that survey is now available and will provide insights into how people understand Web 3 and cryptocurrency and their level of integration across the globe.
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Web3 is a decentralised version of the internet that allows users to own their data.
The survey captured responses from 15 158 people aged 18-65 between 26 April 26th and 18 May. in 15 countries across Africa, the Americas, Asia and Europe. Of that number of people in the survey, 1,000 are from Nigeria, representing ove%.
The results offer captivating and unique insights into Nigerians' overall understanding and views about the web3 and crypto ecosystem, beyond other surveys which consider people's perceptions around investing in crypto assets.
Another positive side to this survey explores topics such as digital ownership, the future of money, data privacy, and the recent news cycle.
The researchers said the results revealed that Nigerians, along with the rest of the globe, are motivated to build and believe they are making valuable contributions online.
