Consensys Survey: Awareness Of Crypto Increases, But Understanding Is Still Minimal

Illustration of crypto assets (photo: Unsplash)

JAKARTA - Consensys, a leading blockchain software company and web3, announced the findings of its latest survey in collaboration with YouGov.

This survey involving 1,041 Indonesian respondents aged 18-65 years found an increase in public awareness of cryptocurrencies in Indonesia. However, this increased awareness is not in line with the level of understanding.

Where public awareness of cryptocurrencies in Indonesia rose 4% compared to last year. Meanwhile, 63% of respondents admitted that they did not fully understand the concept of cryptocurrencies.

Along with increased awareness, this survey also highlighted that security remains the main concern of the Indonesian people regarding cryptocurrencies.

Despite a 3% decline compared to last year, Indonesia remains the most aware of security in Asia, with 89% of respondents paying close attention to transaction security and cryptocurrency investment.

This focus underscores the importance of ongoing efforts to address these concerns and build trust in decentralized systems.

This survey also revealed a significant decrease in trust in traditional financial institutions and internet services in Indonesia.

Where trust in financial institutions including banks, loan services, and investments has fallen by 14%. Currently, only 66% of Indonesians consider this system important.

Every year, we continue to see positive trends for the growth and adoption of crypto, web3, and blockchain. 2024 is a monumental year for crypto for various reasons, but I believe we are in the right direction, "said Joseph Lubin, Co-Founder of Ethereum and Founder and CEO of Consensys.