This is an editorial opinion by Trey Walsh, senior director for youth programs at MassHire Metro North Workforce Board of Somerville, Massachusetts.
Our world has undergone dramatic changes and changes in recent years: global pandemics, wars, political unrest and a growing sense of pessimism towards governments, the future health of our planet and the global financial system. And there is one group, especially in the Western world and the United States, that is growing more dissatisfied and, in some cases, hopeless above the rest: Gen Z.
But I believe there is one great reason for hope that this generation has not yet realized: Bitcoin.
There are many studies and articles discussing Gen Z and the mental health crisis that this generation is facing due to the COVID-19 pandemic, inequality, politics, socio-economics and labor market conditions and more. Of course, these factors have led to this generation, and there continues to be a complete narrative of despair, from environmental groups that, in many cases, put the burden of future climate disasters on the younger generation who are now facing “climate. anxiety,” for the politicians who label every election as a war for our democracy/nation. Previous generations were offered more reasons for optimism — including the relative affordability of the middle-class American dream — than millennials who were encouraged to be what they wanted to be and see innovation and creativity at every turn. While my generation has also seen the reality of the great financial crisis, student debt and some of the same anxieties that Gen Z faces, we still have the benefit of having grown up in an age without limits through the advent of the internet, which has better prepared us for the state of the world now.
I have seen firsthand the effects of this problem on the younger generation. In my role as senior director of youth programs for a nonprofit organization based in Somerville, Massachusetts working with high school partners in our region, it is clear to me that our youth face a bleak outlook, from trying to go to school during COVID-19 and the dismal state of learning virtual at the time, to try to prepare for the future and navigate work, college and mental health challenges, all while many of these students are also able to help with the basic needs of their own families.
Teachers are overworked and underpaid and students don’t have the support they need to deal with these issues. Families are burdened by rising inflation, less savings and college (if ever) becoming more affordable. Hope, if it can be found, has not been the dominant narrative of the past few years. However, there is a lot to look forward to with Bitcoin.
Bitcoin, like the internet, is increasing its use cases and possibilities every year. Since the white paper Satoshi Nakamoto dropped on October 31, 2008 in the wake of the great financial crisis, hope has increasingly been found in the possibilities and use cases of Bitcoin.
Bitcoin Hope For The Environment
The popular narrative from the mainstream media, politicians (especially from the Democratic party, of which I am a registered voter), and large environmental groups is that Bitcoin is bad for the environment. End of discussion.
Unfortunately, many in Gen Z have been given this as a reality, while the reality is that the possibilities of Bitcoin, especially through mining and the positive effects it can have on our environment, are quite limitless and only realized. Bitcoin increases the incentive to build renewable energy and can eliminate carbon emissions, stabilize the energy grid, bring energy to remote destinations around the world through financial incentives and more. Young people facing climate anxiety need to be educated about the benefits of Bitcoin in our environment and see all its great potential to tackle climate change while also spreading prosperity and stability to those who need it most.
Bitcoin Hope For A More Social Economic System
Gen Z is deeply concerned about injustice, inequality and corporate greed and is increasingly skeptical of “capitalism.” Bitcoin offers the same access – a transparent system that cannot be manipulated or controlled. We are doing a disservice to the younger generation by this not share with them the advanced ideas contained in Bitcoin that promote greater financial freedom and equality. Are we going to allow the banks and rich people to be the early adopters of Bitcoin, or should we frame Bitcoin as something that incentivizes Gen Z to hold this technology of freedom?
Bitcoin Hope For Democracy
Gen Z is increasingly skeptical of politicians and our political process in the United States. With Bitcoin, and under the bitcoin standard, fiat’s incentives in politics are drastically more limited.
Regardless of the intention, Bitcoin is a system based on “don’t trust, verify,” which means more accountability in our politics, and less manipulation and trust required. Now, this does not mean solving politics or guaranteeing a perfect utopian democracy, but it can give hope to this generation that wants its voice to be heard, and wants the freedom and agency to control the narrative and see a better world. I think this is a bigger selling point than what the World Economic Forum will offer.
This list of hopes through Bitcoin is just the beginning. Gen Z deserves a chance to be given a story of hope in Bitcoin, instead of being beaten down by the hellscape of the future that has taken its toll on this generation. As Gen Z fights for a better future, Bitcoin must play a leading role in this fight for the desired results to become a reality.
This is a guest post by Trey Walsh. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.