Coinbase Unveils State of Crypto Report, Highlighting Global Perceptions and Adoption

Coinbase has released its latest State of Crypto report, a comprehensive study conducted by Ipsos that examines the views on crypto and blockchain technology in Argentina, Kenya, the Philippines, and Switzerland. The study aims to understand how these technologies impact the lives of people in these countries.

Methodology and Key Findings

The study is based on surveys with 4,000 adults in Argentina, Kenya, the Philippines, and Switzerland. The choice of countries provides a diverse perspective on societies with different socioeconomic conditions. While the countries share similarities in their Christian populations and republican government systems, they also exhibit striking differences in areas, locations, historical experiences, cultures, languages, climates, and economic states.

According to Coinbase, a common thread among these countries is the perception that local financial systems need improvement. Residents in these countries see cryptocurrencies and blockchain as tools that can enhance their lives in terms of financial wealth and provide more freedom and independence.

State of Economy in Participating Countries

The report reveals that less than half of respondents in each country believe that the current financial direction will improve their lives compared to the previous generation. However, fewer people in Argentina and the Philippines believe that they will live worse than their parents. In contrast, respondents in Kenya and Switzerland are more critical of the current financial politics.

Residents in all countries agree that their local financial systems should be changed or overhauled completely, citing issues such as:

  • Lack of fairness (discrimination)
  • Centralization
  • Decreasing value of the national currency
  • Too much hard work to earn enough or save money

The distribution of concerns varies from country to country, with Kenya and the Philippines being most critical towards centralization, discrimination, and wage slavery.

Crypto as a Solution

Most respondents want to be in charge of their financial state and gain more freedom and control over their money. 7 in 10 respondents see cryptocurrency and blockchain as the way to achieve these goals. Both crypto owners and non-owners agree that digital currencies can provide more freedom and control over their wealth.

However, respondents from Switzerland are less interested in crypto compared to other countries. Nevertheless, over 70% of crypto owners in Switzerland believe that crypto offers them more control and freedom.

Blockchain Adoption and Financial Systems

Wider blockchain adoption is viewed as a favorable factor that can improve local financial systems and individual wealth. Most respondents believe that blockchain promotes innovation, facilitates control over individual finances, and makes the system faster and more accessible.

The study highlights a strong connection between the level of satisfaction with the country’s financial direction and the level of support for cryptocurrencies and blockchain. The residents of Switzerland and Argentina are less concerned with the current financial state of their countries and are less into crypto compared to Kenya and the Philippines.

For more news and updates on the world of cryptocurrency and blockchain, visit Global Crypto News.

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