•  51% anticipate that adopting Web 3.0 will result in protection against cyberattacks.

Dubai, UAE: In the rapidly evolving digital landscape, the Middle East finds itself at the forefront of emerging technologies, with Web 3.0 as one of the main focal points of innovation and adoption. In recent years, countries like the UAE have demonstrated a strong commitment to fostering technological advancement and digital transformation across various sectors. With initiatives such as Dubai's Smart City, there is a clear recognition of the transformative potential of Web 3.0 in shaping the future of online interactions and business operations in the region. Against this backdrop, Toluna, a leading firm specializing in market research, consumer insights, technology, and consulting, has mapped regional consumers' understanding and expectations regarding Web 3.0, including the metaverse and NFTs through regular surveys.

Wave 7 of this global survey uncovered a notable level of interest among UAE residents in the transformative potential of Web 3.0 technologies, despite recognizing likely barriers to widespread adoption. While 23% haven’t heard the term before and 42% claim to have only a partial understanding of Web 3.0, 35% of respondents are aware and know what it means, 14% above the average for the 19* markets surveyed. This underscores the growing curiosity and excitement surrounding Web 3.0 among UAE residents.

Key findings

1. Security Concerns Driving Interest:

Respondents expressed a robust interest in Web 3.0's (and blockchain’s) potential to address longstanding security concerns on the internet. Notably, 51% mentioned that they expect it to provide more security from hackers, one of the main attributes they’re looking forward to, signaling a growing need for enhanced protections against cyber threats and misinformation.

2. Empowerment Through Data Control:

Privacy emerged as another significant consideration for respondents, with 48% highlighting the ability to control personal data as another key advantage of Web 3.0. This underscores a broader desire for a more secure and user-centric internet, where privacy is not just an option but a cornerstone.

While enthusiasm for Web 3.0 is palpable, respondents also voiced apprehensions about potential obstacles to its adoption:

3. Navigating Decentralization:

Concerns were raised about the decentralized nature of Web 3.0, with 54% expressing apprehension about the lack of centralized control to regulate cybercrimes and misinformation. Addressing these concerns will be pivotal in fostering trust and acceptance of decentralized technologies among the wider population.

4. Challenges in Business and Consumer Adoption:

Additionally, respondents identified potential challenges in businesses' readiness to invest in digital services (43%) and consumers' reluctance to upgrade their devices (31%). Overcoming these obstacles will necessitate concerted efforts from stakeholders to incentivize investment and drive user adoption of Web 3.0 technologies.

Commenting on the findings, George Akkawi, Enterprise Accounts Manager and Head of the Middle East and Africa Office at Toluna emphasized the importance of addressing these concerns to realize the full potential of Web 3.0: "Web 3.0 presents an exciting opportunity to reshape the internet landscape, offering enhanced security, privacy, and autonomy for users. However, it is essential to address concerns around decentralization and adoption barriers to ensure widespread acceptance and utilization of these innovative technologies. Moreover, the implementation of Web 3.0 holds immense potential in enhancing brands' business outreach to clients, facilitating more personalized and engaging interactions that resonate with modern consumers."

Despite the challenges ahead, the survey indicates a growing interest and investment in Web 3.0 technologies among UAE residents, positioning Dubai as a potential hub for innovation and adoption in the Middle East region.

*Markets surveyed: Australia, Brazil, China, France, Germany, Hong Kong, India, Indonesia, Italy, Malaysia, Philippines, Saudi Arabia, Singapore, Spain, Thailand, UAE, UK, US, Vietnam.

-Ends-

About Toluna

Toluna is a leading consumer insights, technology, panel, and market research consultancy provider.

We own the industry’s first end-to-end, single login, real-time consumer intelligence platform, Toluna Start, which automates research and provides reliable consumer insights with speed and quality. Toluna Start can be used across market understanding (including U&A), brand health tracking, all the new product development stages and creative testing, online communities (qual focus groups), with results displayed instantly in flexible dashboards set up for deep data analysis.

  • Toluna has proprietary online panels in 90+ markets with 72 M+ highly engaged consumers.
  • Our 2,650-strong team delivers consumer and market insights to top Fortune 500 companies (i.e. Amazon, Pepsico, Stellantis, Johnson & Johnson, Procter & Gamble, Nestlé, etc.).
  • We offer our clients the means to collect data and insights in-house, with our support and consultancy where needed, or a full-service agency-style approach with flexibility and agility to meet every research need (i.e. questionnaire design, survey programming & hosting, sampling, analysis, reporting, etc).

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