Generation Z is changing the approach of society to community, money and economy

Digital revolution was reinforced by the recent pandemic. It will change all aspects of our lives, starting from the education system, job market, spending free time, connecting with family, friends, ways of spending money, all that will change and Generation Z will lead that change.

Technology is and always has been one of the most important factors that lead to social changes. We are now at a threshold of another such social change, boosted by the global COVID-19 pandemic. And the way Generation Z will use technology to solve the challenges arising from these changes will determine our future.

From old traditions to new trends

Human lifes are now very much taking place online and with the help of sophisticated technology. Global pandemic only accelerated the transition to a more digital society. That also means a transition from traditional paper money to cashless society.

Transformation of society

It is questionable if we are even able to assess today what the future of our society will look like. It could be based on decentralization, local communities and ending all inequalities, however it could also take the path of a central digital government, watching over every aspect of our lives as the infamous Big Brother. As you read these lines, some of you will have a chill running down your spine and you can’t imagine it, but our future generations will be born into such an environment and will therefore perceive it as natural.

Moreover, every technological revolution represents an increase in the efficiency of production which contributes to saving time for the productive part of the population. But how will the progress of the digital revolution and automation affect employment?

What will come next

The introduction of automation affects not only the production sector but also services. Many activities will be gradually transformed into an automated form due to technological progress. However, this change will not have such a negatively expected effect or impact on employment.

A change in societal needs will contribute to accelerate the disappearance of some of today’s jobs, but also to the emergence of new ones.

Changes will affect us all and they have already started

Digital revolution and automation will gradually penetrate banking, finance, general administration, but also retail and services, where a significant part of the productive society will be concentrated in the future.

Generation Z is well prepared

Due to the approach and social structures, many members of Generation Z were prepared for a pandemic. They were adapted the best for distance learning, socializing online, offering and finding help online and many other challenges, including cashless payments. In a world that did not have a cash-borne disease, many have long been fighting for contactless payment systems.

Conclusion

One of the possible solutions could be offered by digital currencies. Digital currencies, which had previously been raising controversial questions, now see high demand both from ordinary users and institutional investors. What couldn’t be changed for a long time has shifted fast during the crisis. Global adoption of digital payments has already started and due to the post pandemic crisis the interest from the population is growing, especially among the well prepared generation Z.