61% Of Gen Z Indians Look Forward to Schools for Web3 teaching: New Global Study The findings pertaining to the Indian market were done as a part of a global survey of 3,869 people conducted in November and December last year.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Over six in ten Indian Gen Z population wish schools to teach more about the virtual and digital environments, where they spend the most time when not in class. This was revealed in findings of a study conducted by Boss Beauties, a New York-based web3 media and entertainment brand to highlight the fast-growing use of web3,
"Policymakers, educators, and web3 companies all need to come together and ensure that young people and their parents have the tools and knowledge they need to stay safe and make informed decisions as they navigate this fast-changing digital space," said Lisa Mayer, Founder and CEO, Boss Beauties.
The findings pertaining to the Indian market were done as a part of a global survey of 3,869 people conducted in November and December last year. More than half of the surveyed population fell in the 16-24 Generation Z group. The survey was conducted in seven countries where the web3 space is established and popular such as the USA (28%), the UK (23%), followed by Nigeria (18%), Singapore (11%), Brazil (9%), India (6%), and UAE (5%).
The Gen Z outlook:
Thirty-eight per cent of Indian respondents shared that they found web3 interesting but did not really understand the space. About 31 per cent of the Gen Z population turned to friends to get information about web3, while only 25 per cent said that their parents were 'well' equipped to teach about web3.
Over 38 per cent of parents and caregivers felt that they struggled to teach web3 to their children.
About 40 per cent of Indian Gen Z boys used web3 for online gaming as compared to 26 per cent of girls. Whereas 32 per cent of girls stated, they were more likely to use web3 for virtual communities and networking as compared to 19 per cent of boys.
The survey also highlighted that 78 per cent of parents were neither highly nor somewhat informed about risks and threats when using web3. Almost one in three surveyed caregivers shared that they did not know what their children used most on web3.
"As our research shows, although Gen Z is embracing web3, many are still unaware of the risks that it entails – especially girls. It's particularly alarming that more than 40% have come across someone pretending to be someone else online," shares Lila Thomas, Vice-President of Brand and Strategic Partnerships at Boss Beauties.
Key global findings across seven countries:
- Compared to Gen Z boys (15%), nearly twice as many Gen Z girls (27%) are unfamiliar with how to open and manage a crypto wallet.
- When parents were asked the same question about opening and managing a crypto wallet, 68% of mothers and 60% of fathers globally said they either didn't know how to or were unsure.
- When parents are asked how much they thought their children spent on their last transaction, they tend to overestimate: 44% believe it was in the region of US$101-500 instead of US$20-100, which is what Gen Z say their most popular category of spending is.
- 58% of Gen Z respondents are concerned about their privacy and safety online.
- 26% of Gen Z girls say they have been "subjected to abuse or harassment, e.g. body shaming, misogyny" online, a figure only slightly lower for boys (24%).
