The Coinbase report on economic hopes and frustrations in the world: crypto can change things!

The famous crypto exchange Coinbase has just published its report on the state of the industry that examines the hopes and economic frustrations in the world.

The study, in collaboration with the research company Ipsos, involves conducting a survey with 4,900 adults located in Argentina, Kenya, the Philippines, and Switzerland during Q4 2024.

The results lead to more or less conflicting feelings among the residents of the various countries, but in any case, the common denominator is dissatisfaction with the current financial systems.

Could blockchain and crypto play a crucial role in changing the way people think about their economic future?

We discover it together in this article.

Coinbase analyzes the economic dissatisfaction of people in the current financial systems: Argentina, Kenya, Philippines, and Switzerland

The report from the crypto exchange Coinbase reveals a common thread in the way residents of Argentina, Kenya, the Philippines, and Switzerland think about their respective financial systems.

In any case, the majority of the people interviewed stated that their economy would need a change or a complete overhaul.

Less than half of the adults in the countries examined think that their generation will be better off than that of their parents, if things continue in the current direction.

In particular, the argentini and Kenyans are much more likely to consider their nation’s prices expensive rather than affordable.

In Kenya there is also a strong sense of economic instability and unreliability of the institutions that should offer support.

In the Philippines, the inhabitants notice a certain bureaucratic slowness that makes the entire economic engine significantly less efficient than it should be.

The Swiss believe instead that their territory is well organized, but it suffers from excessive traditionalism with a low tendency towards innovation.

Dissatisfaction is a common feeling in all four countries analyzed in the study by Coinbase and the crypto research company Ipsos.

The majority of adults interviewed believe that the financial system needs to be renewed, given the presence of some gaps.

The biggest economic concerns for Kenya and the Philippines lie in the excessive centralization of large companies, the instability of their own fiat currency, and the presence of excessive taxes and duties.

For Argentina, the presence of strong inflation also creates a sense of frustration towards the Argentine Pesos, compounded by a certain difficulty in generating wealth and a lack of trust in banks and institutions.

In Switzerland, where the financial situation is generally more affluent, people complain about too much centralization accompanied by high fees, while not speaking less of instability and trust.

According to Coinbase, over 7 out of 10 adults believe that crypto and blockchain should be implemented in today’s financial systems

According to Coinbase, more than 7 out of 10 people interviewed believe that crypto and blockchain could offer a great contribution to their countries.

In the vast majority of cases, especially in Argentina, Kenya, and the Philippines, there is a tendency to think that new technologies should be used to update and improve the current financial system.

In Switzerland, despite the presence of the Bitcoin hub of Lugano, this sentiment is less pronounced. Even here, however, most people agree in considering crypto a positively significant factor for their financial life.

Very interesting to observe how in the countries analyzed by Coinbase, crypto holders see blockchain technology as a vector of economic freedom.

Between 67% and 94% of respondents believe that crypto could improve at least one of the previously listed frustrations in the financial sector.

Between 71% and 97% of them believe instead that crypto can have a decisive impact on their freedom in terms of money.

In the Swiss cantons, these ideas are not as strong as in Kenya, given the presence of a much richer economic fabric that is more favorable to citizens.

The fundamental role of crypto in improving the economic outlook of every country

More or less, almost all adults surveyed by Coinbase believe that crypto could have a positive impact on their financial life.

In some cases, blockchain and cryptographic technology can even enhance the level of economic freedom, offering significant advantages such as the possibility to exchange money without constraints worldwide.

In Kenya, for example, where basic banking services are not always guaranteed by institutions, 96% of people claim that crypto offers greater control over their finances and promotes innovation.

In the Philippines, there is the same line of thought, highlighting how crypto could lead to economic growth and generate more opportunities.

In Argentina, these dynamics are also followed, albeit in a slightly less pronounced manner.

In Switzerland, however, about a third of the population disagrees with these topics, still showing a certain predisposition towards new technologies.

In conclusion, crypto seems to be able to make the current financial systems decidedly faster, more honest, easier to access, and more economical.

The majority of the inhabitants of Argentina, Kenya, the Philippines, and Switzerland agree on these potential benefits of digital assets.

Overall, Kenya is the country where there is the perception that crypto could really improve things.

Following Argentina and the Philippines are more or less at the same level in thinking about the improvements that could be made thanks to Bitcoin and the blockchain.

Finally, Switzerland places it in the last position, while still remaining generally positive in considering the role of crypto in its own financial system.