What Makes Blockchain So Attractive in the Eyes of Millennials?

Their time to shine?
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Step 1: millennials defined

What makes this generation different from its predecessors? The way I see it, there are two main factors to consider. First of all, we’re talking about people who are much more tech-driven than previous generations. Don’t forget that they grew up with the internet at their hands (and when I say ‘they’, I genuinely mean ‘we’. I am part of this generation, I confess). They’ve developed their skills and education in sync with technology development — from the big Macintosh computers to the Apple watches. Oh, and let’s not forget their passion for gadgets, whether it is online or offline.

Step 2: millennials and money

It’s not only about how millennials ‘walk and talk’; it’s mainly about how they handle themselves financially. Here, there is such a significant difference between them and the ‘gen-x’s’. You probably won’t find a millennial standing in line at the bank and waiting for services — and if you do, they will be very unhappy about it because they are used to doing everything through mobile banking, preferably the bank’s app or website. They are very aware of their online financial behaviour, meaning they are less prone to be victims of cyber theft or any phishing scam.

Step 3: millennials and Blockchain

As you can see, millennials are not very fond of traditional, centralized banking — especially if it can’t keep up with their pace. They are also very informed about current events, so they are very picky about whose advice they take (especially regarding older people). The path from here to alternative financial options such as crypto, hence, is pretty much paved. Millennials are very intuitive about the digital sphere, all the way back from the days they used to download music illegally. They prefer to spend their free time online creating and generating stuff (music, podcasts, content, etc.) rather than playing Solitaire or Minesweeper.

The fascinating world of the crypto market serves as a mecca for millennials
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The flipside

If the picture painted here seems pretty to you, I need to remind you that there’s a downside to this kind of life. We’ve all witnessed the crypto market taking a plunge in the past few months, and anyone who claims they can tell you exactly when Bitcoin is set to recuperate is probably being dishonest. That’s where the typical millennial’s financial ‘impatience’ can turn from an advantage to liability and where mistrust in one financial concept could turn into too much trust in another.

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