There is no question that the younger generation will adopt cryptocurrency. From Tamagotchis to Neopets and in-game loot and currency, it is apparent that anyone under the age of 45 has spent their childhoods being groomed to see digital assets as having value.
There is seemingly no end to the market that already exists for digital-only assets as the generations that grew up with home video game consoles and internet connectivity continue to join the workforce. Cryptocurrency is the next logical step for generations of people who have spent their entire lives seeing value in digital assets.
This does not mean that cryptocurrency is purely the realm of the young. As society progresses so, unfortunately, do scammers. The older generations are often seen as easy targets for scammers, but they don’t have to be, not anymore.
Cryptocurrency thanks to the unchangeable and secure nature is more resistant to tampering and scams. It can be tracked easily and is difficult to use for money laundering, because of this it is quickly outstripping traditional currencies in terms of security and trust.
As the baby boomer generation heads towards retirement they will suddenly have more time for leisure, and if there’s one thing that the last couple of decades have shown us is that leisure activities are filled with technology even activities you wouldn’t normally think of as requiring technical knowledge.
Most bookings are done electronically for vacations and theme parks and resorts alike are moving towards all-inclusive experiences using digital wristbands, apps, and keycards. Television and movies are moving away from traditional releases and into the realm of digital streaming of content.
The generation that often believes that they don’t know how to use technology has slowly become completely immersed in it. There is no shortage of technology marketed towards the needs of an aging population, from digital assistants to health monitoring devices, and tablets and phones retirement will be filled with technology for baby boomers.
This immersion coupled with the increasingly user-friendly designs behind cryptocurrency means that the older generations are just as prepared to reap all the benefits that cryptocurrency has to offer.
As the world gets smaller and people think more globally in terms of both goods and lifestyle traditional currency is starting to be found lacking by many. Having to exchange paper money every time a border is crossed or calculate and remember exchange rates along with foreign travel fees to use a credit card abroad quickly becomes tedious in an age where people have grown used to streamlined and often hassle-free services.
There is no reason why in an age where you can order a new phone charger, and have it delivered to your office in the center of a city in just a few hours you shouldn’t expect the same freedom and flexibility from your money.
Humanity’s values have evolved over time, just as society has. Originally value was tied to consumable goods and from there value shifted to precious metals and the gold standard and from there to where we currently are with fiat money.
Fiat money means that the money is government-issued currency not backed by a physical commodity but instead holds value simply because of the stability and trust behind the government backing the currency.
For decades the world has accepted value simply because they have been told the value exists and it is a small leap to move from this value for values sake to value based on digital scarcity and data security.
Cryptocurrency is poised to offer modern solutions to modern problems facing our global society and economy, regardless of age. Be it the instability of changing governments, the shift towards a more global way of thinking, or data security in an age where computer science is evolving faster than we ever thought it would cryptocurrency and blockchain technology is ready to offer solutions. Putting our trust in digital assets the same way we did with gold and later government backing is simply the next step in global finance and will creep into our lives the same way that the internet did; quickly, seamlessly, and without effort regardless of age.
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