The Greatest Single Wealth Transfer In Human History
This generation will become the richest generation in history over the next few decades, and banks should be worried if they are not already there. People have begun making a big change to use unorthodox finance, with Bitcoin Black serving as the beneficiary of our time’s ‘Great Wealth Transfer.’
But this time, is it really different? Millennials have made it clear that they will not accept any apologies. A Harvard study found that only 14 percent of millennials trust Wall Street to do the right thing “all or most of the time.” Meanwhile, 83 percent of all Americans agree that Wall Street is no more ethical today than it was in 2008.
The conventional banking is obviously far from being a flawless organization. For a Millennial, there’s just too much risk trusting a system that has been proven to fail.
With past events exposing banks ‘volatility, it’s no wonder people are exploring alternative forms of wealth storage. Millennials ‘majority (68 per cent) will strongly consider quitting their conventional banking relationships and switching to the digital banking and payment services of a tech firm-offerings from Facebook, Twitter, Apple and Amazon. Quite a sharp contrast with only 32 per cent of Baby Boomers willing to make the same shift from their existing banks.
That’s not to say any Millennial dislikes their banks. According to a survey by Scratch, approximately half (53 percent) of them claim that nothing separates their personal bank from any other competing bank. They embrace the conventional method because there are obviously no other desirable options.
This inherent institutional mistrust is setting the stage for a new way of investing. Millennials at least trust cryptocurrency as an asset, more than they do the conventional Wall Street-run stock market, according to a survey. The study, conducted by independent polling company Provoke Insights, asked about stock markets, crypto-currency exchanges, and 401(k)s for 1,000 online investors in the U.S., ages 20 to 65. Forty-three percent of millennial respondents have said they have more faith in cryptocurrency exchanges than in U.S. stock exchanges.
When this “Great Wealth Transfer” comes down to, we know one thing for sure, Bitcoin Black is positioned as a tool for storing newly acquired capital. Millennials have shown a strong trend towards welcoming the digital age with open arms, thus turning their backs on the conventional financial system.
Bitcoin Black hands 3600 Bitcoin Black over to one million people. Therefore, the value of Bitcoin Black will increase with an equal distribution and have 1 million people at IEO with no exploitation generating the largest change in wealth in human history. Bitcoin Black will be airdropped to citizens with low incomes from the 164 countries. This shift in wealth will change the lives of people. The demand for Bitcoin Black will be strong, because it will be used globally as a currency, and the value will rise, and this value will shift wealth as well.