A Better Tomorrow with Millenials' intellect and Crypto-Genius
Mar 02, 2018 Posted / 5615 Views
It is surprising sometimes how the time flies. It was in 2008 that we got to know about Bitcoin and now the concept of cryptocurrencies itself will celebrate its 10th anniversary by next year. The theory has now aged, and with every new year new entrepreneurs, startups, and more prominent corporations are embedding their profiteering yearnings with the practical usage of the virtual tokens. Everybody is trying to develop something unique and exciting with the cryptocurrencies' underpinning technology called Blockchain. We will evaluate in this article how far it has been able to inspire the people around us and especially millennials.
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It is quite apparent that much of the cryptocurrency trends are stoked by millennials only, and Anyone can readily acknowledge the fact that the younger generation is the one that fuels new technologies, developments, and innovations, which is why cryptocurrencies have found wider adoption amongst this generation.
Unlike our elder strata, this era has seen most of the versatile innovations and have grown up with digital technologies, automation solutions at their fingertips, which is why they have diverse ways of perceiving things by default. Currently, if we see around- technology is so intrinsically woven into the daily life that we have given it our most natural acceptance. Our forefathers and fathers would have to cover longest of distances and plenty of time to do work, but we do everything in a matter of seconds- from booking a cab to buying groceries and searching for jobs. This is the exact reason that cryptocurrencies fit in so nicely in our world.
Simon Yu, CEO of blockchain startup StormX, says, “Millennials are particularly open to embracing new technology in order to create opportunities for themselves--and blockchain, the tech behind crypto, is no different. As masters of the side hustle and challenges of the traditional 9-5 working lives of previous generations, millennials are welcoming blockchain with open arms.”
Chris Castiglione, co-founder of One Month, teaches Bitcoin & Cryptocurrencies courses. He also feels that younger generation is in the far better mindset to comprehend the totality, risks, and opportunities presented in the cryptocurrency space.“I think the crypto market is attractive to millennials because it's a space with both a lot of growth and risk," he says. "People who are 40+ years of age are likely settled down with a career and family, and less inclined to get into such quick growth, volatile field. It's been the same way with startup founders over the past two decades. Millennials also seem to be much more digitally literate than Gen X or baby boomers.”
Nonetheless, Castiglione says, that age is not the limiting factor for anyone who is interested in virtual currencies, and anybody is enthusiastic about it, can invest. "Many of the people starting cryptocurrencies and tokens do seem to be between the ages of around 22-40. [But] obviously, anything is possible, and I could list many exceptions to the rule," he comments.
We are moving in a more decentralized world, this is for sure, and it is not just because of adoption of cryptocurrencies or blockchain technologies. Everyone aspires to a more borderless and autonomous future, and it is right to do so. After Internet came into the mass scenario, we started moving towards globalization, and it apparently depicted that everybody visions of a better and closer association with different cultures. As a result, with time more liberal reforms started flowing. Blockchain and cryptocurrencies are just an extension to that amelioration that collective conscious of the masses asked for.
The most well-known use case for cryptocurrency says that it avoids any government and banks intervention and people can now freely transfer funds, clear payments and do trading in far more clear and concise manner without official documentation delays.
Arran Stewart, co-founder of blockchain recruitment platform Job.com, explains, “Cryptocurrency can become a global currency platform and is able to replace traditional payment methods. In the future, you will be able to pay for lunch with your crypto wallet, without a need for a credit card, merchant system, or cash. Consider how many things you buy and pay for day-to-day that crypto could replace.”
Nevertheless, while that is the essence of virtual currencies, the efficiency of blockchain technology can provide countless fascinating applications. For instance, you can utilize Ethereum smart contracts and build decentralized applications. It depends entirely on you, how you use it and why you employ it.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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