Why rich people are investing in crypto currencies

Millionaires and multimillionaires, billionaires welcome the emergence and development of blockchain technologies. They have many motivations that encourage them to support the development of open source block chains.
Why do multimillionaires massively support blockchain and cryptocurrencies?
The importance of multimillionaires for the survival of blockchain technologies is very high. Today, the Earth is inhabited by more people than ever before. Representatives of the millennial category (people born from 1981 to 1996) have a greater purchasing power than older and younger generations. Moreover, the researchers expect that in 2017 the income of Millennials (also called “generation Y”) will increase by $ 200 billion.

Decentralized accounting technologies, which can be implemented using blockchain, also meet the values of Millennials. Branched-chain data have value for all generations of people. But it is for Millennials they are more valuable than for the older and younger categories of people. This is due to several reasons.

Civil injustice
Present generations bear the burden of the financial failures of their predecessors. Statistics say that the current Millennials are poorer than their parents were at the same age. Inflation rates increase every year, and wage growth does not keep pace with price hikes. Because of this, the representatives of the” generation Y " today in many cases are deprived even of housing, not to mention the other benefits of civilization. Debts on student loans alone in the United States reached $1.5 trillion. Because of this, today many Millennials gave up hope for a happy future.

For the average millennial bitcoin and everything related to crypto-technology-a chance to raise a riot against the current financial system and make the money the way he wants them to be. In addition, the active use of blockchain technologies in the future will reduce the role of centralized authorities. Given that the majority of Millennials are concerned about thriving in the state institutions of corruption, cryptocurrency and branched chain represented for them a good way to make your life better.

Abandoning the traditional financial system
Despite the fact that the cryptocurrency market is extremely volatile, representatives of generation Y believe that digital money is more reliable than insurance, bonds, stocks and other traditional financial instruments. The opinion of Millennials on this issue is fundamentally contrary to the views of their parents. This is due, in particular, to the fact that people born from 1981 to 1996, the most acutely felt the consequences of the financial crisis in the world of the late 2000s. They realized that all traditional financial instruments could be manipulated, and there would be no consequences. Now they have acquired an alternative in the form of cryptocurrency-decentralized systems in which their creators have minimal impact. It is quite natural that Millennials prefer such assets, over which it is difficult to control one person or a narrow circle of people.

Studies confirm that many Millennials prefer not to make investments, keeping their savings in cash. Bankrate conducted a survey among the adult population of the United States. According to the results of the study, the most preferred assets for investing among Millennials are cash, real estate, and gold.

Not surprisingly, Millennials prefer not to invest in traditional financial instruments that are promoted by wall Street. And cryptocurrencies, which are considered as "digital gold“, due to the lack of centralized regulation - one of the best investment assets for the”generation Y".

Lifestyle change
One of the trends of the modern world is the tendency of modern people to spend money without taking into account, even if they feel a constant financial shortage. For the most part, this is due to the activities of the media. They are promoting a consumer lifestyle, suggesting to readers that the satisfaction must be sought in vacations, entertainment, clothing and luxury.

Millennials see that the global financial system is still working against them, so they see no reason to lead a rich lifestyle or have enough income to do so. However, blockchain technologies will help “generation Y” get out of the financial quagmire and give the opportunity to enjoy life not as it looks in the media. Recently, the Cool Cousin project was launched - with its help, travelers can get acquainted with the sights of new cities from the locals. This and many other blockchain-based solutions allow not only saving money, but also getting an excellent and necessary life experience.

Technical safety and utility
Millennials are the first generation that has grown by having Internet access. They are able to understand what advantages the blockchain gives them. The model of attracting investments with the help of cryptocurrencies (Initial Coin Offering or ICO) allows entrepreneurs and innovators to raise money for launching promising projects much faster than if they used traditional tools. Millennials are the people who will be able not only to consume the results achieved with the help of tomorrow's technologies, but also to develop these technologies and make them better. They are smart enough and clever enough to choose simpler and at the same time correct decisions.

Blockchain gives Millennials the opportunity to participate in the life of platforms they believe in. With branched data chains, it is much faster to collect investments to start new projects than before. This led to a sharp increase in the number of high-tech developments that violate existing paradigms. For example, the Golem project, developed by specialists in the field of computer processing, is aimed at studying the possibilities of using blockchain in all spheres of human life. Golem members lease their computing power and receive tokens for it. They can spend cryptocurrency on the work of a remote supercomputer.

Millennials have adopted a new investment model provided by the cryptocurrency market. They are willing to make the effort to blockchain-chain has developed across the planet.

Creating a new world
Millennials are interested in a happy future. But even more they want to use blockchain technologies created by them. Digital wallets are a revolutionary tool for promoting global financial transparency.

I just can't describe today's financial markets, political relations and business activities. Millennials love the Internet, but they also understand that they face even greater media exposure, corporate control, and political confusion because of it. Many representatives of generation Y believe that blockchain as a tool that has open source code, has the potential to be used in voting, advertising and data exchange. For example, the service is one of the State aimed at the development of democracy, creating platforms for transparent and accessible voting with the participation of everyone.

Participation in the future
Millennials long ago came out of the age when they could be considered naive and young generation. They understand that there is injustice in the world, and they rebel against it. With the help of extensive data chains, they will be able to file complaints, as well as demonstrate to the authorities what are the most pressing financial and social problems of society and with the help of what tools they can be solved.

Now the future of blockchain technologies is not something definite. If the Millennials will use them in their work, these technologies will not only exist, but to flourish and develop.
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