Why Money Will Soon Be Extinct
Alternative financial tools are evolving to meet the expectations of Generations X and Y.
Since the financial crisis of 2008, people have questioned how much trust they should place in large banks and financial institutions. This sentiment is echoed by research from The Curve Report, which finds that 65% of Gen Xers and Ys say they are “ready for something new” as opposed to sticking with the “tried and true” financial institutions and principles (35%). This shift in perception means that individuals are reinventing the financial services typically provided by banks, venture capitalists, hedge funds, and angel investors, thereby creating new options through which consumers can save, spend, borrow, and manage their money.