Cryptocurrency is a term that has been riddled in controversy from the dawn of its beginning. Given the unfamiliar (and frankly unusual) form that cryptocurrency takes alongside its traditionally-glad currencies, this is not exactly unexpected. Since technologies began to bloom into more than their niche beginnings, and even before then, there has been an ongoing issue wherein people have had trouble trusting in the authenticity, the legitimacy of technologies they do not understand. Cryptocurrency especially raised significant debate because it is literally a decentralised iteration of traditional currency. This inevitably raised issues of privacy and security; because people were unable or unwilling to consider the fact that cryptocurrency operated on perfectly secure (and arguably even more secure) frameworks than traditional currencies. Over time, however, cryptocurrency slowly but surely proved its value time and again, and now it is finally being taken more seriously. Today, cryptocurrency has gained the favour of the world’s largest bracket in the population: millennials and onward. In short, the youth of today are driving interest in crypto up and up.
Cryptocurrency has faced its controversies over time, but as time has gone on it has continued to turn these controversial points into dust, proving itself to be convenient, effective, and even valuable (think of the German trading software that cracked the bitcoin code, for example). This is an excellent example of a technological innovation continuing to succeed against the odds, and it is interesting to note that its ongoing longevity and success is thanks to millennials and the like. With the way that cryptocurrency is growing currently, it will likely not be long before it is considered one of the mainstream forms of currency there is in all the world. We live in a modern world that has been shaped from the ground up from the innovations and investments in technologies that have gone on to change the world in many ways, and cryptocurrency is just the latest to try to change the world on a broader scale (and definitely, obviously depending on who you ask, the most effective tech-driven innovator in recent history).
Cryptocurrency is essentially a decentralised form of currency exchange that allows traders to transfer, send, and receive financial totals to and from within seconds, rather than waiting for the obligatory waiting periods that are often assigned to traditional currency exchanges. Carried through blockchain networks, cryptocurrency is made especially secure as well – another factor that millennials love and support. The blockchain works by essentially forming a decentralised encryption around the transactions (i.e. the blocks within the chain). That encryption functions as a secure barrier that stops transactions and the like from being defrauded or otherwise altered during the transaction process. Put like this, it is easy to understand how and why the concept of cryptocurrency has gained such momentous support from the world’s young adults in recent times. Cryptocurrency offers all the same luxuries that traditional currency does, without the waiting periods and with the added securities.
Recently, interest in cryptocurrency has positively exploded, with an influx of conversation and even investment that is, frankly, unparalleled. That arching interest comes largely from the millennials who have been pushing for smarter, more efficient, and more digitally-able ways of doing things, for a while. Like many (if not most, even all) other digital innovations, cryptocurrency has found its main source of growth from the rising interest of millennials and other younger generations. This should not be surprising. After all, these are the generations that have grown up in worlds that are positively saturated in technological proficiency. They have grown up in a world that has taught them that it is only natural they should expect technological proficiency to follow them everywhere they go, and so they do. Millennials admire, even love cryptocurrency because it embodies the notion of having it all, right now, without the need to wait for third parties to push through transactions and the like.
Technological growth and ongoing digitalisation are the foundations of this new modern world, and it is through these technologies that the world continues to become more digitally enhanced and secured. One of the most controversial arches in (relatively) recent technological advancement is the rise of cryptocurrency. This is a tech-driven innovation that has been followed closely by controversy at every turn, and yet it has persevered to become one of the most consistent topics of conversation among the finance industry, the general public, and especially millennials and other younger generations. It is mostly (if not entirely) thanks to the surge in interest from these younger generations, that cryptocurrency continues become exceedingly intriguing to the masses, and it is because of these younger generations that cryptocurrency continues to appear more and more likely to be a mainstream currency in the near future.