AriseBank was recently raided by Feds, and had their assets seized. This has led to immense speculation that Arise was a scam, a premeditated act to defraud.
I vehemently oppose the notion that Arise Bank has or has had any ill intent in any aspect of bringing it's vision to life.
Here is why.
First, Jared Rice Sr. has been very public about his ultimate goals of AriseBank and with the hurdles. He has done a number of interviews and discusses topics at length. It is also through these videos that it becomes apparent that Jared is very knowledgeable when it comes to blockchain technology. It also showcases that he is trying to build something for us, and his passion for the project and humanity shows with each question. Here are some videos, they should be watched.
https://twitter.com/gank/status/946590219423293440
- gank
https://steemit.com/crypto/@chasegapo/arisebank-or-raided-by-fbi-or-interview-of-jared-rice-sr
Secondly, the major issue surrounding the raids is the use of the word bank. I think if they had used AriseX or something different, they would have had less scrutiny during the ICO. I understand Jared's vision, he is trying to create something that would benefit us all. His selection to use the Bitshares platform also shows he is knowledgeable and Bitshares would be a top choice for a project with good intentions to utilize. More importantly it is important to realize that because of the true decentralized nature of bitshares, AriseBank would never actually run like a bank, as you would always be in full control of your $, it was just being set up to feel similar to traditional banks. So much of the raid will boil down to definitions and I am confident that Arise will survive this battle.
(phote: fightcampconditioning.com)
Lastly, AriseBank is a direct threat to a system that has been built to manage our wealth for profit, of course there are going to be enemies of the project with deep pockets and pull. Aside from creating a completely new type of way to bank, they have to overcome hurdles. I truly believe that AriseBank was created and built to make a better world possible for the people.
A scam, implies premeditated intent to defraud, and my belief that AriseBank's intentions are the exact opposite of that.
They want to create an environment where our money is protected from the fraud that is happening every day.
Here are the 9 biggest bank settlements agreed to by banks for defrauding investors. These are the true fraudsters that AriseBank is trying to free us from.
(photo: staticflickr.com)
JPMorgan Chase $5.29 billion
Credit Suisse $5.3 billion
Wells Fargo $5.35 billion
Deutsche Bank $7.2 billion
Bank of America $8.5 billion
BNP Paribas $8.9 billion
Bank of America $11.8 billion
JP Morgan Chase $13 billion
Bank of America $16.65 billion
(credit: http://www.businessinsider.com/the-biggest-bank-settlements-of-all-time-2017-4/#8-credit-suisse-53-billion-2)
Of course this idea AriseBank brought forth is a huge swing for the fences, and risky for all those involved because it goes against the grain of the status quo.
Please, I implore you to really dive into the interviews and understand the vision, simply labeling this a scam is detriment to progress we have made in raising the monetary awareness of the average person since the Occupy Wall Street movement.
(photo: wikimedia.org)
This is our chance to Occupy the banking system, don't let the heavy handed U.S. government scare you into thinking that this dream is evil. This dream is the future, it can be slowed down but it can not be stopped.
Whether Arise is first or helps to pave the way for the first decentralized bank, it is a vision that will be realized.
Blockchain tech is our real chance to occupy the World!
I STAND BEHIND ARISEBANK!