• by Laurie Sullivan , Staff Writer @lauriesullivan, April 14, 2023

Dentsu released findings of a Web3 consumer online survey conducted in November 2022 that reveals the extent to which people are unaware of Web3 in Japan -- a country known for its knowledge of technology.

The survey of 3,000 consumers between the ages of 15 and 69 was conducted to determine the extent of public awareness and understanding of Web3 in Japan, to facilitate widespread adoption, growth of related business, and industrial advances.

Consumers in Japan are often believed to have a good understanding of a range of technology, especially technology associated with Web3 -- a concept for the next iteration of the World Wide Web that uses decentralized blockchains, the ledger systems of cryptocurrencies, to give users and builders greater control and ownership over their data and content.

Based on the findings from Dentsu’s study, awareness of Web3 was highest among males between the ages of 15 and 19 at 48.6%, compared with 29.7% overall.

Among all respondents, when asked about Web3, 70.3% answered “I am not aware of it at all.” 

Some 48.6% of males between the ages of 15 and 19 were aware of Web3 -- the highest awareness rate among the sample groups.

Of this total, 12.1% answered “I am aware of the term web3 and know a lot about it,”  while 10.3% responded “I am aware of the term web3 and know about it to some extent” and 26.2% answered “I am aware of the term web3 but know nothing about it.”

The most common concerns regarding Web3 are the lack of public understanding, information security risks, and slow progress in updating relevant laws.

The survey respondents who were knowledgeable about Web3, those who answered “I am aware of the term web3 and know a lot about it” or “I am aware of the term web3 and know about it to some extent”) were asked about their concerns and dissatisfaction regarding the current state of web3.

Some 29.4% of respondents said: “There is a lack of understanding of web3 among members of the public.” About 29.0% and 28.2%, respectively, of respondents chose the answers “The threat of cyberattacks is a risk for information security” and “Progress is slow in updating laws concerning taxation, finance, consumer protection, etc.”

The survey revealed that respondents expect Web3 to improve information security, prevent unilateral changes to related rules, and facilitate cross-platform use of tools, while the most knowledgeable respondents have big expectations for decentralized autonomous organizations (DAOs).

Those who answered either “I am aware of the term web3 and know a lot about it” or “I am aware of the term web3 and know about it to some extent” in replying to the first question were also asked about their future expectations for web3. Some 36.5% of respondents said they “expect it to improve information security through decentralization.” 34.1% expect Web3 to result in more use of tools, items, and data across various digital platforms.”

The most common concerns and dissatisfaction with regard to Web3 involve the lack of public understanding, information security risks, and slow progress in updating relevant laws.