06 Jun 2022
Populations of developing nations are optimistic on Bitcoin’s future
A survey by Block reveals that people in developing countries are generally more optimistic about Bitcoin's future than people in the west.
Block recently published a report containing results from a survey on people's knowledge and perceptions of Bitcoin across different geographies, genders, and ages.The survey confirms what bitcoiners have suspected for a long time: that inhabitants of developing countries are the most optimistic about Bitcoin's future.People in Nigeria are the most optimistic about Bitcoin's future, with 60%, followed by India (58%) and Vietnam (56%). These results are not surprising, given that these three countries also hit some of the top spots in the Chainalysis Global Crypto Adoption Index 2021.We see a massive divergence between developing countries and western countries in the optimism about Bitcoin's future, as only 29% are optimistic in the US and 22% in Germany. Japan scores the lowest with only 11%. Interestingly, China scores higher than western countries on Bitcoin optimism (36%), even though the Chinese government has attempted to ban Bitcoin multiple times.Populations in the most Bitcoin optimistic countries live under high inflation and weaponized payment rails, which are problems that Bitcoin aims to fix. Therefore, they are naturally more inclined to understand the value proposition of Bitcoin than populations of western countries with stable monetary and payment systems.