The traditional investment landscape, with its stocks, bonds and mutual funds offered by financial services stalwarts, does not align naturally with millennials. This generation grew up in the era of the financial crisis and demands much more than the search for maximum profits. Millennials crave a larger mission and impact from the work they do and the companies they support.
They are the first generation to have digital technology at their fingertips. They are digitally literate. The rise of the sharing economy means that ownership is often seen as a burden rather than an aspiration. This new generation of investors wants to participate rather than own. To attract these investors, the world of financial services must transform its approach to offer products that are easy and cost-efficient to access; reduce or eliminate the need for intermediaries; and give investors the chance to be part of something.
Taking all these trends into account, we believe that tokenization will be particularly well suited to millennial investors.
Read the full article written by Miles Pelham, Chairman and Founder of Diginex on the World Economic Forum Agenda blog here.