It is no furtive that the attractiveness of blockchain has been on the rise as the financial institutions all over the world are adopting it as well as other industries implementing this revolutionary wave of technology. Blockchain is grabbing the attention of millennial for their long-term investments now.
Venture investment in blockchain start-ups began in 2012 and grew apace in 2016 and 2017. Google and Goldman Sachs are amid the most vigorous commercial investors for blockchain. Other financiers include Visa, PNC, Deloitte, Transamerica, Wells Fargo, Capital One and U.S. Bancorp.
A concern which must be highlighted is that individuals have very little control over their retirement plans, until retirement. For the millennial generation, it is vital for young investors to be aware of their investment portfolio and this is where blockchain assists them.
The issues investors face when it comes to their retirement portfolios that matter starts with the very basis of how they are set up. With a traditional retirement plan, there is a lack of commitment and engagement to control the structure of how the plan is set up. Before the investors did not interfere with their portfolios too early in their career but now as the life is getting very fast and digitalized, all investors including experienced and youngers, are living through frequent lifestyle changes. This is one of the basis that these portfolios should be more transparent and accessible to the individual, as it cannot adjust to the current lifestyle changes that unexpectedly come about. This sets the individual down a path of no yield or very high-stress levels in the future.
Block Labs experts emphasized the significance of searching for platforms or tools that would allow for your portfolio to be stored into one single location, where you are able to see all the numbers, figures, and potential risk factors, so you understand your own lifestyle.
Traditional retirement plans and savings usually do not provide this aggregate view, which leaves the investor with a multiple of portfolios and investment strategies that might even be conflicting with one another, or in a worst-case scenario, not correctly enhanced which will result in a loss on investments.
What Can The Blockchain Do For Your Retirement Portfolio?
Most importantly the investment portfolio must be brought onto the blockchain as you know all the information is going to be encrypted and well protected. By combining all your portfolios, it is helpful to have a platform that is able to lay out all the numbers and figures for the investor, which gives them a superior understanding of their long-term financial future.
Furthermore, blockchain is decentralized, which provides transparency, getting the individual closer to understanding the edifice of their personal funds. And by eliminating the entry barrier as between the account and the individual, this would, in turn, provide for more intelligent planning each day. It is very convenient for the millennial, enabling them to pull their credit score up by simply downloading different mobile app available online and Block Labs Dubai will also soon make the apps available for easy access for all the clients. These applications allow seeing an aggregated number of factors that play into their investments. For all the young investors, it’s been tremendously beneficial, as they must structure the majority of the financial decision based on the risk factors they will be aware of, enabling to see information presented, all in one location.
Thirdly, risk management. If a platform could offer tailored analytics based on the type of portfolio the investor has set up and the ability for the cryptocurrency medium and blockchain is to provide risk/return tests, and allowing the investor to make informed decisions would only increase the knowledge and financial independence all millennials are searching for.
Lastly, the blockchain would provide a digital history of your portfolio. Every transaction, every decision, every allocation of an asset would be clearly recognized and validated. There is very less chance of manipulation or head-rubbing gestures to figure out what the hell happened during the lifetime of the portfolio. It’s all there.
The cryptocurrency spaces through the blockchain have introduced a new medium that allows for young investors to have a second look at the technology they are interested in, and provide them with avenues in which to invest in their future. Time is money and earn money fast investing with Block Labs customized GPU rigs, ASIC miners and blockchain solutions and make yourselves at rest at the time of retirement.