Tuesday, May 21, 2024

Why Generation Crypto Is Going to Define the Financial System of The Future

I am sure all of you have heard about Generation X, or Y or Z. However, most of you must have not heard about a generation working strongly to redefine our financial systems. 

We are talking about a generation, which has been born and brought up in the age of cryptocurrencies. 

Generation Crypto has grown in the aftermath of the Financial Crashes of 2007-08. It grew on the foundations of faulty government policies and monetary mismanagements. 

It saw its parents, adults, brothers and cousins being thrown out of jobs because of no fault of their own. 

Generation Crypto or ‘Children of Satoshi’ as they are fondly called, is the age. Which believes in cryptocurrencies as the only solution to sort the world’s economic mess. 

In this article, we are going to explore some major aspects of Generation Crypto and see why they are very important for our future. 

Generation Crypto: What ae some of their Personality Traits?

If you have interacted with exponents of cryptocurrencies, tech entrepreneurs who believe in Bitcoins, etc. you will immediately get a sense of how they are different from others. Gen C is much more open, liberal, and free and exhibits a great sense of being independent. 

They are also proponents of a free globalised world, and are not afraid to collaborate with people sitting in different parts of the world. Gen C are the founders of a New World Order that builds on less government control and more freedom for the common person. 

Gen C are also highly sceptical of the philosophies and theories, which have guided older generations and view them with distrust. In many ways, Gen C had predicted that every emergency or disaster the world will go through would see a financial breakdown. 

They were right; the Coronavirus crisis has proved that. It has brought the world to experience the worst possible unmitigated economic crisis since the Great Depression, a century back. 

Does Gen C espouse and support a new way of doing Business?

Have you ever wondered why companies like Uber, Air BnB and others, promoted a very easy form of shared spaces and community living thrived in the last decade? The only reason for this was that Gen C believed in something called a shared economy. 

Every business that the new generation sets up has two critical components. One of them is using technology to boost the business. Every business, from product manufacturing to developing software utilises technological advancements. 

The other component is how businesses set up by Gen C entrepreneurs seeks to re-envision money in an entirely new fashion. What is money, how can it benefit humanity, how can it be made inflation resistant are some questions, which Gen C are frequently raising.

Why does Gen C strongly distrust the Government Authorities?

We have already mentioned how Gen C are strongly critical of the government. One of the major reasons that the distrust exists is the failure of the authorities to use power, control and coercion to defend the wrong, when it is emanating from them. 

Many have already pointed out that the government authorities all over the world should have been prepared after the 2007-08 crisis. Why was a disaster resilient currency not evolved in the next ten years? The Coronavirus pandemic and the economic turmoil could have been easily avoided.

If the warning signs are already there, why not take actions on the basis of it?  This is the reason that monetary policy makers and government authorities are distrusted. They are out there to stifle growth and development of the new world order. 

Gen C wants to invest and trade in Bitcoins and other newer forms of technology. They are thronging to websites like Financial Peak to help them understand the world of crypto and to earn from that as well. 

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