Ethereum co-founder discusses industry outlook Interview with Joseph Lubin,founder and CEO of Consensys

What's Consensys

Founded in 2014, Consensys is a leading blockchain and Web 3.0 software company. The company works on solutions that utilize the Ethereum blockchain, and is also known for developing the wallet "MetaMask," which is used by many Web 3.0 users.

According to the 2024 "Global Crypto and Web 3 Survey" released by Consensys last year, Japan's awareness of crypto assets, Web 3.0, NFTs, and understanding of the importance of decentralization were lower than the rest of the world. Why do you think this is?

Joseph Rubin (hereinafter, Rubin): Because Japan has an established and trusted financial system, it is possible that the public does not feel an urgency to explore alternative financial tools such as crypto assets and DeFi (decentralized finance). According to the "Global Crypto and Web 3 Survey" conducted by Consensys, 85% of Japanese respondents have multiple bank accounts and use traditional financial services widely.

It was also revealed that while awareness of crypto assets is increasing, half of the respondents do not have a good understanding of what crypto assets actually are. Many respondents also view crypto assets as complex and difficult, with concerns about volatility and fraud remaining major barriers.

That said, attitudes may be changing. More people in Japan are associating crypto assets with financial inclusion and digital ownership rather than just speculation. Adoption may be slower than in other regions, but the foundations for growth are becoming clearer as people become more familiar with the broader applications of blockchain technology.