The results of an online survey of 1,500 US-based consumers reveal people’s deep concerns about privacy and the sheer power of technology platforms, while suggesting that Web3 has yet to become a household term.
The study was conducted by the global information and strategy firm National Research Group (NRG) in January 2022. 54% of respondents said they were concerned their rights and freedoms were threatened by technology, with 44% citing online privacy concerns, 38% dissatisfied with online advertisements, and 35% reporting who feels a lack of control over their data. Nearly half believe tech companies have grown too powerful and should be broken up.
Still, only 13% reported knowing what Web3 means, while 54% have not heard the term at all. Of those who have, 83% said they believe the new version of the Internet will improve their lives. Speaking about the possible downsides of the new Web, 33% cited concerns about cybercrime and scams increasing as the decentralized Internet comes to fruition.
In particular, US consumers do not believe that the burden of ensuring a positive social impact of the Internet of the future falls primarily on regulators: only 32% attribute the leadership role in this matter to politicians and regulatory agencies. More than half (51%) believe it is primarily the responsibility of technology companies, and 50% said it is the work of developers and engineers.
In the cryptocurrency adoption note, 57% of respondents reported having purchased cryptocurrency or considered doing so. 39% percent believe that cryptocurrencies are more similar to stocks and shares rather than fiat currencies (18%) and commodities such as gold (15%).
Marlon Cumberbatch, Senior Vice President and Global Head of Insights at NRG, commented to Cointelegraph:
“For me, the most unexpected finding from this research was how many consumers felt a strong sense of lack of agency in online spaces. It is rare, in this increasingly polarized world, to find something that unites us all. But it seems that Americans, regardless of income, politics, or race, feel strongly that they don’t have enough control over how they interact with content online and how corporations use their personal data.”
Cumberbatch added that the findings point to “a real desire among consumers for a new Internet age,” the kind that would give them a greater sense of agency and control over their online experiences. The main obstacle at this point seems to be the lack of information and the still insufficient public understanding of the concepts related to Web3.
Respondents were selected to participate in the study based on quotas calibrated according to US Census data by age (within the range of 18 to 64), gender, race, region, income, and educational level. Although this method does not produce a representative sample of the general population in the strict sense, it does allow strong generalizations to be drawn about how opinions are distributed.
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