When it comes to technological advancements, their impact on psychological factors is not much explored. Trust Wallet decided to dive into this. Its brand film, In Freedom We Trust, looks at how decentralization, Web3, and crypto, in particular, are playing their part in aiding financial freedom.
Do we truly own our assets?
The film by Trust Wallet explores a crucial change in society. The question that it asks so importantly is, “How free are you?” In other words, do we really own our assets?
While many would say yes to the question, the film rips apart that concept, showing what it really means to have ownership.
One defining characteristic of ownership put under the microscope is financial control. People, for example, may say that they have money in their bank account. But if we look at it, the person has little control. It is the bank that has the power to freeze the bank account, and even force it to shut down. Is that control? This is what the film forces one to consider.
The movie looks at the younger generations, Gen Z and millennials. For them, ownership is when they not only have assets that are under their name but have the freedom to use them as they please, with little oversight from others. In the digital arena of today, it is not just money, but personal information, privacy, and even transparency.
DeFi: A financial friendly existence
One thing that stands out for financial freedom is DeFi. Decentralized Finance, as the name suggests, hands over control to every participant. There is no single authority. This is where Trust Wallet really shines. It provides people with a self-custody wallet that users can connect with the DeFi services that they desire.
This is also evident from Eowyn Chen (CEO of Trust Wallet) saying, “Our brand film is a reflection and celebration of the empowerment that comes with decentralization and self-custody. We believe that everyone should have the freedom to own their financial and data assets securely. At Trust Wallet, we proudly say, ‘In freedom we trust.’”
Privacy goes hand in hand
For Millennials and Gen Z, it is not just about their financial assets, but their personal data too. Their increased sensitivity towards how their information is gathered and used is a pain point. This is evident from a McKinsey report that revealed an astonishing 79% responding that they are uneasy about their data handling by financial services and even social media ones.
Trust Wallet excels at both. As a self-custody wallet, Trust Wallet not only ensures the protection of assets like crypto, but it also covers personal data. Everything stored by the wallet is encrypted and can only be unlocked by the user. As long as users hold the password (known as seed phrases) only to themselves, no one can access it — not even the Trust Wallet team.
This sits perfectly with the modern data privacy needs of younger users, making the wallet and its services an automatic attraction.
A new financial attitude
Tech-savvy and seeking more freedom, the younger generation makes up a major chunk of crypto users. A study reveals that millennials trust digital monetary systems over traditional ones. Trust Wallet understands this and at its core, it provides services that are aligned with the younger lot.
With Web3, the enhanced ownership concept has stepped onto another level, reshaping the financial landscape completely. This is explored in detail in the film, showcasing how Trust Wallet through blockchain technology has aided these people to access financial freedom at a global and borderless stage.
When 67% of the global Millennial population puts more trust in crypto and Web3 (DeVere Group’s 2022 study), this is a clearcut message that these young minds seek reliable and secure methods to access.
As more and more people continue to board the Web3 wagon for true financial freedom, Trust Wallet is becoming a catalyst of not only change, but a near de facto stepping stone.
To understand the role that Trust Wallet plays in the modern shift of financial ownership, watch the movie here.
