The criminals of Wall Street and the Banks (JP Morgan) are quaking in their boots. The blockchain technology is truly eating their lunch. For more than half a century, Wall Street and the BIG banks have had a monopoly over money supply and venture capital funding. The organized crime model was used to the fullest by Wall Street and the banks. If you had a great business idea or needed to expand an already existing business, you had to go to them for money. There were no real options. Well, those days are ending.
With the invention of the Blockchain and the appearance of Bitcoin in late 2009 into 2010 a "new" formula for asset discovery and money was born. This new system is decentralized and not controlled by a privileged financial elite class. In time, we will see all global assets digitized. As assets get digitized, value will be assigned to each asset. It is very important that this digitized process not be dominated by the same monopolistic enterprises that control today's monetary system. The criminals of today's banks and Wall Street would love to continue their dominance of global financial power. This is why the Blockchain, Bitcoin, Ethereum, Litecoin and more are such a threat to their empire. They will no longer be able to dominate the global financial scene.
The Blockchain is an open source public ledger that has real transparency and honesty. This is missing in our current monopolistic monetary system of today. For example, has the Federal Reserve ever been audited? NO. When was the last time Fort Knox had been audited? It was in the year of 1953 during the Dwight Eisenhower administration. During the Bernie Madoff scandal, did Jamie Dimond of JP Morgan go to jail? NO, even though they were the exclusive bank processing all of the transactions and personally signed off by Jamie Dimond himself. See why we need transparency and a public audit-able ledger?
The resent hacking of Equifax is a perfect example of the flaws of having centralization. The criminal executives at Equifax sold their stock before it went public that half of the U.S. populations private social security numbers and financial information was stolen through a hack of their corporate servers. Now it is up to us to clean up a mess that will never be resolved. Thanks Equifax. Once gain, the Blockchain would have prevented this from happening.
What we are seeing behind the scenes is the greatest power struggle in mankind's history. When governments and Bank executives come out and bash Bitcoin and ICO's, it is because they are terrified of loosing predatory financial dominance. The Blockchain and crypto currencies spells death to their monopoly. The only hope that they have to prevent global adoption of crypto currencies is to try and outlaw it and use incarceration as a threat. Well, good luck with that. The genie is out of the bottle. People world wide are sick of the tyranny and favoritism of the good old white shoe boys club. Just this year, more money has poured into ICO's (Initial Coin Offerings) than all of Wall Streets IPO's (Initial Public Offerings). This has Wall Street petrified.
I say good riddance to the criminal banking and Wall Street business model. I am a full supporter of the Blockchain and crypto currencies. This technology can and will liberate mankind financially. This will redistribute the wealth in a sense that it will at least create a level financial playing field that has been missing for 100 years. Each and everyone of us can support this sea change by owning crypto currencies/token. Each Bitcoin, Litecoin, Ethereum, ZCash, VERI, Monero, Dash, NEO or other crypto owned, is a vote to replace the old with the new. I encourage all to study and learn all that you can about this new FinTech industry. Talk about it at work and with family. Spread the word that there is hope for a better, more free and fair financial world here right now. It is called the Blockchain and crypto currencies.
Very good advice, I will start applying, you have my upvote and I will start to follow you to read
Thank you very much for the nice compliment. Thanks for reading and commenting
Good read (even though it was the photo that got me!)
I hadn't thought of that Equifax connection, but you're entirely right. It's gonna be an interesting world we and our children will live in. Hopefully a better one. Was listening to jsnip4, Bix Weir & cliff high the other night and an important point they made was how important it was to learn coding in this evolving technological age... More importantly, to stress upon your kids for THEM to learn it instead of settling to be just "sheeple" users. The future's jobs will belong to those who understand and can create our future.
Yes, the new world will need coders. I agree that learning Blockchain and the various coding of the crypto currencies/smart contracts is key to the future
It's about time! F.... the banks!
Amen!
You have raised some very pertinent issues. We must all educate ourselves about the opportunities that cryptocurrencies now provide and stop putting all the power in the hands of these financial institutions.
I agree. I could not say that any better. Thank you for your reply