There are sentiments around and beyond the crypto space that the global economic system is on the verge of collapse. Those sentiments have lingered for a few years now further fuelled by things such as the U.S-China Trade dispute, the Corona Virus pandemic and most recently the Chinese Evergrande default crisis.

Economic collapse is not new to us though, even as the Covid lockdowns left with it a big scar and bigger holes in the pockets of households. While the feeling of collapse was imminent, even for those that felt it most there were still not adequate enough preparations to properly hedge against a potential collapse.

People still went amount their usual, consumerist lifestyles and were perhaps deluded into thinking that Governments would actively protect their welfare on the advent of any economic challenges.

Covid taught a lot of lessons, particularly showing that Governments themselves are on a battle for 'survival' in order to maintain 'power' and 'order'. While I would give props to the way some governments handled the Covid issue, the big lesson I would like to point out from the effects of lockdowns on jobs and households is...

You are Largely on Your Own

Even if the Government does decide to create big budgets to cater for the welfare needs of her citizens, they certainly cannot do it for everyone and for a long period of time before it becomes unsustainable and leads to a debt crisis. This means that personal financial responsibility is largely, well, personal.

We owe it to ourselves to create the kind of financial outcomes we desire in the future. Unfortunately so much is hedged on the conventional investment means such as money markets and real estate that are either in a bubble or fast becoming untenable.

Crypto came in on a whimper as the solution to systemic issues in our current financial and political ecomony. However, blockchain technology has brought with it early wealth that certainly more than a few early adopters have been able to take advantage of.

Crypto in A crisis

Holding some crypto is no longer a trend, but rather it is fast becoming a 'must' we are increasingly ushered into this new realm of blockchain technology. At an individual level these days though, we have seen more people hold crypto as an asset as they lose faith in the conventional system while simultaneously realizing the space as the likeliest route to financial freedom in the future.

This is not to say that crypto is immune to the effects of a global financial meltdown, because it isn't. However, it does possess the assets, technology and value-added services that should successfully steer individuals out of a potential financial rut in the future.

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