Venezuela is the first ever nation to have its own national cryptocurrency, but Cambodia is aiming to become the second. The Association of Southeast Asian Nations member (ASEAN) may follow in Venezuela’s steps or improve upon the development process, but either way Cambodia is on the verge of bringing its citizens to blockchain at an unprecedented level.
While Baby Boomers, Generation X, and Millennials explore blockchain possibilities, Generation Z will be the first ever generation in Southeast Asia to actually grow up with the technology should Cambodia successfully implement its national cryptocurrency into daily life. Members of Gen Z throughout the rest of the world may not have this kind of omnipresent opportunity, but blockchain will still certainly pique their curiosity—which means that it may be the perfect solution to draw Gen Z to your business.
Characteristics of Generation Z
To win over a generation, you first have to understand their characteristics—what drives them, motivates them, and keeps them moving forward. Here are some key traits characteristics of Generation Z.
They are entrepreneurial. Their older siblings, the Millennials, are an entrepreneurial bunch, too; Gen Z has definitely adopted that mentality. Many want to turn hobbies into businesses or start their own company and be a pioneer in their chosen field.
They are tech-savvy and driven. Generation Z has never gone without tech. We sometimes laugh at them for not knowing how to work a corded phone, but they’ve never had to. They’ve had the most innovative tech at their fingertips at all times. Being raised on tech, they have a drive to further it and incorporate it into all aspects of their everyday lives.
They are socially conscious. Technology has opened the world in ways it never has before. Instead of traveling, people can get online to connect with friends, followers, and influencers all over the world. They can also keep up with issues happening in both the local community and in different nations.
This has made borders virtually nonexistent and has opened Gen Z’s eyes to the issues we face as humankind — not just on a state or national level. Subsequently, they have become one of the most socially conscious generations, advocating for change and holding both companies and individuals to higher standards than ever before.
They advocate for justice. Part of their social consciousness has also made Gen Z advocates for justice. They see wrongdoing and demand change — from people, from governments, and from corporations. They expect wrongs to be righted and everyone to be treated fairly and respectfully.
They value quality over quantity. In general, Gen Z has decided that quality is more important than quantity to them. They would rather see results and effective change than a variety of efforts but little to show for it; they’re a no-nonsense bunch.
How Blockchain Solutions Appeal to Generation Z
Blockchain technology has a seemingly endless number of different uses. How it’s used and the difference it makes will depend on the industry it is applied to, and more companies are incorporating blockchain in an effort to become more effective and efficient. Here are three blockchain companies whose work appeals to Generation Z.
ImpactPPA – ImpactPPA uses cryptocurrency and blockchain technology to transform global energy and create solutions for the developing nations of the world. Their platform gives those countries and communities access to clean, renewable energy with a unique technology that manages energy from generation to payment on a mobile device. In the process, ImpactPPA’s platform is also helping to mitigate climate change.
Their use of blockchain technology appeals to Gen Z’s attachment to technology, penchant for social consciousness, and desire for global justice, since it circumvents financial institutions and bureaucracy that keeps those in need from accessing the energy and an improvement in their quality of life.
Utopi – Utopi uses cryptocurrency and blockchain technology to revolutionize charitable giving and relief efforts. Their platform offers participants exclusive access to live VIP events, like streamed private concerts or cooking lessons from esteemed professions, and the proceeds go to charity.
Utopi’s use of blockchain technology appeals to Gen Z’s obsession with technology by giving them the opportunity to use it to enjoy exclusive, exciting events, but it also lets them tap into their social consciousness by knowing the proceeds will benefit communities and countries in need. It also gives them the opportunity to connect directly with their favorite celebrities and influencers who may use the technology to promote the causes they believe in. We now live in an age where both Gen Z-ers and celebrities are equally invested in pursuing activism, and platforms like Utopi will allow both to drive social change through decentralized streaming.
NanoVision – NanoVision uses cryptocurrency and blockchain technology to bring the world together by enabling everyone to collaborate to find solutions to humanity’s greatest health threats in the shortest amount of time. Rather than waiting for clinics and governments to conduct research that fails and wastes time and resources, people around the world—scientists, doctors, and regular people alike, can work together, sharing real-time data to find solutions.
Rather than waiting around, Gen Z can take action, make a difference, and help the world start seeing real solutions for things like cancer and superbugs rather than a lot of failed trails from organizations they have no control over.
With Generation Z making a strong entrance into the workforce and society, it’s important to be able to win them over and incorporate their passion and power. As companies like ImpactPPA, Utopi, and Nano Vision have demonstrated, blockchain solutions may just be the key to winning Generation Z over.
What are you currently doing to attract the Gen Z market to your business?
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