What Does the Future Hold for Millennials When It Comes to Investment and Opportunity?
By: Juan M. Hernandez
Tags: Blockchain, Investing, Millennials

New Forms of Wealth for the Digital Era

With regards to the exponential growth and advancements in various technologies today, it’s clear that the world as we know it, particularly with regard to finance, is poised to see radical change as we shift towards a new iteration of the internet characterized by the seamless transfer of value and self-sovereignty.

Not only do we have better protocols and applications enabling interconnectivity between individuals around the world, but enhanced means of ensuring these individuals can transact and grow their own wealth. It’s perhaps for these reasons that remote work is taking off — this benefits both workers, who can now find jobs extending beyond their immediate proximity (and save time/money on commutes) and employers, who gain access to a global talent pool to find those best suited to the task at hand.

Job security is a concept that’s rapidly dissolving with millennials. The aging idea of a career spanning decades with a single company is slowly ebbing away in favour of flexible contracts and gig-based work. Tasks that were once performed by human workers can now be outsourced to automated programs and machines.

In this fast-changing environment, there are certainly risks, but there are also opportunities to be seized. With individuals in control of their own work patterns, a more hands-on approach is required to manage and grow their own finances. To these ends, we believe that investment into the burgeoning field of digital assets is highly sensible.

Digital assets issued on blockchains have a number of properties that make them more appealing than traditional offerings. The most evident reason for this would be accessibility. It has never been easier for anyone with an internet connection to buy or sell tokens on globally accessible markets. Those familiar with OpenFinance Network’s (OFN) mission know that we’re focused on security tokens in particular, which know none of the volatility associated with non-backed tokens as they represent a tangible share of an asset.

It’s a huge improvement on the existing infrastructure for handling the distribution of tangible assets — obviously, a digital certificate issued on a transparent ledger is wholly more convenient insofar as portability and ownership assignment are concerned. One can see the benefits of tokenizing, say, a work of art or rare statue — ownership is clearly visible to all, with the proof in question easily stored in a phone or hardware wallet. More importantly, by using a public chain, the various institutions that are currently fragmented (with different backends and procedures for clearing and settling) can all converge around a highly interoperable database for the exchange of digital assets, reducing friction and allowing for faster settlement times.

To-Do List to Prepare for the Future of Work and Finance:

Hone a Skill: there are troves of free courses online on everything from programming, to design, to writing. As workforces migrate to the digital realm, we’d highly advise that people invest in themselves by spending some time picking up a valuable skill for the future of work.

Keep Up to Date on Tech Developments: few industries are as fast-paced as that of bleeding-edge technology. Keeping a finger on the pulse, so to speak, is crucial to better understanding the emergence of new iterations of financial systems. Knowledge doesn’t need to be in-depth, but a high-level understanding is beneficial.

Get Involved: It’s all very well reading about blockchain tech, but the benefits are missed by standing on the sidelines. Security tokens could be ideal avenues for investments, as they are backed by long-standing players in finance, represent investment in non-native assets, and, when using a platform such as OFNs, can be efficiently exchanged and managed using blockchain technology.

For our part, we are hard at work bringing to offer a one-stop shop for your secure investment needs in US-compliant securities.

As always, be sure to keep up with our developments on social media:

Website: openfinance.io

Telegram: t.me/openfinancenetwork

Twitter: twitter.com/OpenFinanceIO

Medium: medium.com/openfinance

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Juan M. Hernandez is the Founder and CEO of OpenFinance Network, the trading platform for security tokens and other alternative assets. Juan is a serial entrepreneur, technologist, and polymath experienced in financial markets, exchanges, and blockchain technology. He holds a CS degree from Northwestern University and an MBA from the Kellogg Graduate School of Management.

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