World Economy

Brits Panic as ‘Disruption’ Comes to UK Finance Industry

The London Stock ExchangeThe London Stock Exchange

The UK has long been a financial center and home to the world’s top banks and financial institutions. But recently, there has been an air of desperation in the country not seen since the recession of 2007.

This is not due to the tensions caused by US elections or Brexit. No, the big banks fear changes to their industry. The term “disruption” is used to describe how new technology creates a fundamental shift in an industry, Finance World reported.

Now, these old bankers and financiers who held so much power and privilege must make way for a new kind of millionaire, young, working from their phone or laptop and beating the bankers at their own game. Disruption has changed the way they travel, it has changed the way they rent homes and it has most obviously changed the way they interact (facebook, instagram).

The Internet has created so many opportunities for people to earn money while they work from home. From online marketing to online trading. From investing to web startups, to investing in Bitcoin, the last decade has caused “disruption” in so many industries and created a new wave of successful people who can enter “traditional” industries with the click of a mouse or the tap of their smartphone. Wealthy people have been using stock trading and other lesser known financial investments to increase their wealth for generations.

Recent studies confirm the wealth gap is getting wider, meaning the top 1% of wealthiest families are getting richer, while the middle and working class are struggling to get ahead. It is for this reason that the public often do not hear about the best trading opportunities. With the advance of the Internet giving everyone access to information, there is a chance for the less well off to find out about new ways to invest, to the annoyance of the world’s elite, wealthy families.

As 2016 came to a close, the stock markets have hit record highs. If this continues, there will be a chance for wealth creation. If, however, recession hits, with interest rates close to zero, there will be no effective tools for finance leaders to stop the world slipping back into a serious financial bear market.


Add new comment

Read our comment policy before posting your viewpoints