In a recent study conducted by Coinbase, a paradigm shift has emerged among the young American population. An impressive 38% of younger Americans now believe crypto and blockchain technology can provide significant economic opportunities not commonly found in the traditional finance sector.
Only 7% of these demographics believe the current financial system serves their needs well. Over 52% of the respondents in the study period reported infrequent use of the system, with fewer than 20% considering the U.S. financial system superior to those in other countries. Interestingly, the report also indicates that since most millennials and Gen Z adults have grown up using internet-based applications, they expect financial institutions to adapt to modern technology.
About 39% of the younger generation believes that “politicians and policymakers should support technologies like cryptocurrency and blockchain to help future generations, versus 28% of older Americans.”