A recent survey conducted by Consensys, a private blockchain software technology company, reveals a global shift in user behavior toward active participation, empowerment, and community ownership, driven by web3 concepts. 

The study, conducted in 15 countries including the Philippines, found that 96% of Filipinos are familiar with cryptocurrencies, making it one of the highest markets worldwide.

The survey also indicates that only 52% of Filipinos trust current internet services, with data privacy being a significant concern for 77% of Filipino users. Also, 84% of respondents want more control over their internet identities. Despite the limited understanding of the “web3” concept, Filipinos show familiarity with the Metaverse (38%) and NFTs (35%).

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Consensys, recognizing these global trends, is redefining the concept of a “builder” to be inclusive of everyone and promoting new perspectives on how web3 can empower individuals. The company’s evolved brand identity aims to support people in understanding the potential of web3 and provides the necessary tools to get started.

Data privacy

The survey findings also highlight the growing mainstream desire for more control over online identity, data privacy, and equitable profit-sharing. Web3 and crypto offer the possibility of a decentralized trust paradigm, enabling individuals to contribute to and build their communities.

In the Philippines, the survey shows high awareness of cryptocurrencies and a strong belief in their potential as the future of money and digital ownership. Filipinos also express optimism regarding cryptocurrency, considering it as a potential alternative to the traditional financial system.

The survey emphasizes the need for broader education on web3 and crypto, as well as the importance of addressing data privacy concerns and promoting user empowerment in the digital realm.

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