Find out where Bitcoin remains dominant, where Ethereum is surging, and which countries are most clued in on Blockchain.
A region’s search data is like its subconscious. Beneath all the hype and the headlines, search data shows what people are really interested in learning more about, and is implicative of economic, political, and business that underlay the landscape. In the case of blockchain and digital assets, analyzing global search data presents a fascinating picture of an ecosystem in flux with remarkable variation around the world.
The ConsenSys SEO Team undertook a study of global search interest comparing the phrases ‘Bitcoin,’ ‘Ethereum,’ ‘Blockchain,’ and ‘Cryptocurrency.’ The findings present an enlightening peek into trends as nations develop interest beyond cryptocurrencies and into blockchain tech.
For example: Countries in Asia like Japan and South Korea lead the world in interest for both ‘Blockchain,’ and ‘Ethereum,’ and fittingly are developing a clued-in populous at the forefront of the blockchain ecosystem. Elsewhere in the world, countries like the United States and United Kingdom still represent strong Bitcoin dominance, although it’s Brazil that leads the pack in that regard.
Data further aflung is perhaps even more interesting. Venezuela, in the midst of major political upheaval, has seen a huge spike in search interest regarding Bitcoin as its Bolivàr currency continues to fall. In Taiwan, perhaps the closest we’ll get to search data from China, blockchain and Ethereum are growing fast in search dominance and outrank even Bitcoin.
For a more granular breakdown of global Google search statistics for the blockchain industry, check out our friendly infographics below…
As the highest ranking nation for ‘Blockchain’ searches with 39%, Japan also exhibits a remarkably even spread of interest, with 30% Ethereum, 29% Bitcoin, and only 3% of searches for ‘Cryptocurrency’ following behind at some distance.
Russia exhibits one of the most even search trend spreads in in the world, with Bitcoin at 37%, Ethereum 26%, Blockchain 34%, and Cryptocurrency 3%. The high ranking of searches for blockchain and Ethereum suggests that Russians are already looking beyond just cryptocurrency and store of value in their attempts to harness decentralization.
Conversely, the study suggests that the United States is lagging behind badly in blockchain search term diversity, with ‘Bitcoin’ dominating 70% of searches, ‘Cryptocurrency’ next at just 13%, ‘Ethereum’ at 10% and ‘Blockchain’ at 7%. The US exhibits a brand name bias with these numbers, suggesting that the technology isn’t understood until a ‘brand’ like Bitcoin or Ethereum introduces the concept to households.
A very similar spread to the United States, the United Kingdom shows lopsided search rankings, with ‘Bitcoin’ occupying 68% of searches, ‘Cryptocurrency’ next with 13%, ‘Cryptocurrenncy’ at 13%, and ‘Ethereum’ up next with with 11%.
Perhaps the closest we’ll get to an eye on search trends in China, Taiwan indicates a highly even spread of search terms. ‘Blockchain’ has taken hold in Taiwan, with 42% of related searches, with ‘Bitcoin’ at 31% and Ethereum at 23%. ‘Cryptocurrency’ trails by some distance at 4%.
The message of Bitcoin is strong throughout Africa, a continent primed to leapfrog over traditional banking infrastructure. Nigeria, one of the strongest economies on the continent, exhibits strong Bitcoin search dominance, with the phrase taking up 70% of search terms, with ‘Blockchain’ next at 14%, ‘Cryptocurrency’ at 9%, and ‘Ethereum’ with 7%
The nation represented with the highest Bitcoin dominance in search rankings is Brazil. This trend is evident throughout South America, but nowhere as strong as here, where 88% of related search terms are for ‘Bitcoin,’ with ‘Blockchain’ garnering just 7%, ‘Ethereum’ 4%, and ‘Cryptocurrency’ with a lowly 1%. These numbers suggest Brazil is a prime market for blockchain education.
France’s search rankings show ‘Bitcoin’ with 73%, ‘Blockchain’ following with 14%, ‘Ethereum’ with 10%, and ‘Cryptocurrency’ with only 3%
India, which has been tipped as a huge potential growth market for blockchain tech, still exhibits Bitcoin dominance in Google search rankings. ‘Bitcoin’ has the lead with 67%, next ‘Blockchain’ and ‘Cryptocurrency’ share 13% respectively, and ‘Ethereum’ trails at 7%. But with all those developers looking for a way to build with blockchain, we see India’s blockchain-related search interests raring for a change.
Australia’s search rankings indicate ‘Bitcoin’ with a solid lead at 69%, followed by ‘Cryptocurrency’ with 16%, ‘Ethereum’ at 9%, and ‘Blockchain’ with 7%. With huge growth potential down under, Australia is likely to see a boon in smart contract platform growth in 2019 and beyond.
Always a populous ready to assume progressive ideals, Swedes are still showing strong Bitcoin dominance in search rankings — a trend evident throughout the European continent. ‘Ethereum’ follows with 16%, with ‘Blockchain’ at 7% and ‘Cryptocurrency’ at 6%.
Canada — the birthplace of Ethereum — shows search analytics indicating an early point in Bitcoin dominance decline. With 69% of searches for ‘Bitcoin,’ 11% for ‘Cryptocurrency,’ and 10% for ‘Ethereum’ and ‘Blockchain’ apiece, the Great White North has a healthily even spread of interest ready to grow.
Like other Asian Tiger economies, South Korea shows a developed a highly diversified and clued in populous when it comes to new technology. ‘Blockchain’ outranks all other search terms studied here with 40% of interest, with ‘Bitcoin’ at 29%, ‘Ethereum’ at 24%, and ‘Cryptocurrency’ with 7%. It seems the South Koreans have gotten the hang of crypto and are now making the move into blockchain, smart contracts, and Ethereum — a progression we expect much of the world to undertake in the coming years.
Venezuela presents a fascinating case study for interest in blockchain and cryptocurrency on account of its unstable political situation, economy, and devaluing currency. Fittingly, ‘Bitcoin’ tops the rankings with 75% of search terms, with ‘Blockchain’ following with 14%, ‘Ethereum’ at 9%, and ‘Cryptocurrency’ with 2%.
Disclaimer. The views, information, and opinions expressed are solely those by the author above do not necessarily represent the views of Consensys AG. They are meant for informational purposes only, are not intended to serve as a recommendation or investment advice to buy or sell any securities, cryptoassets, or other financial products.
Bitcoin vs. Ethereum vs. Blockchain vs. Crypto —A Global Search Study was originally published in ConsenSys Media on Medium, where people are continuing the conversation by highlighting and responding to this story.