Do you still believe the banksters can hang on? Do you think they have the power to stand up to blockchain?
The reality is the entire banking system is not going to be necessary. Once that happens, you will see the true power of the world economy take off. The Age of Abundance is coming.
I repeatedly stated that blockchain is the Internet on steroids. Whatever the impact of that technology, when it comes to blockchain, multiply it by 100 (actually I am starting to think it might be a thousand-fold increase). There is very little about the world that is not going to be disrupted by this technology.
At present, about $50T of the global GDP can be classified as supply chain related. This is an enormous amount of money tied to the moving of stuff around. Unfortunately, there are huge inefficiencies along with great inequality. The overall loss of productivity is tremendous.
Wal-Mart or Amazon can negotiate incredible deal with suppliers. Their ability to purchase in huge volumes means gives them an enormous advantage over smaller competitors. Also, because of their size, delivery schedule and payments terms will be most favorable. Those entities on the fringe do not enjoy this power. Everything for them is more expensive.
The impact of blockchain on supply chains is well documented. IBM, for example, is working on over 400 projects with 65 companies according to their most recent announcement. This is not an isolated case.
While supply chain is one of the major areas of focus, money is what drives the engine. This is where blockchain is really going to change everything going forward.
Right now there is roughly $70T in fiat money floating around. If we add in securities such as stocks, we can double that to about $150T. This is what everyone is fighting over. We have $150T to lube the global economy. Of course, inequality is a major factor here. The aforementioned Amazon and Wal-Mart can get a billion dollars at 3% while a small farmer in Columbia is going to pay 15% on a $500 loan against his farm.
Welcome to the world of banksterism. And it is ending.
What do you think will happen when we operate without interest? This is a situation that we will see arise over the next 10-20 years. Giving out loans is going to be passe. And we all know who is at the core of this.
While there is $150T to prime the economy, estimates are there is roughly $750T-850T in assets that are illiquid. This is where we are going to see the greatest expansion of economic activity. From an economic perspective, this puts a great deal of money to work at an increased velocity. This is the power of blockchain.
So how does this work?
Let us take said farmer in some nation who needs more equipment. By updating the equipment, an increase in productivity is realized. Instead of going to some type of lending institution, our farmer simply puts the farm on the blockchain. A smart contract is created spelling out the terms of repayment and a cryptocurrency is issued. In the agreement, the farm cannot be sold until the tokens are repaid. Through the increase in productivity, said farmer earns more money, buys the tokens up, and keeps the farm. Essentially it is an interest-free loan.
This could be done with any asset. Imagine the economic impact of $500T being infused into the global economy as opposed to everyone seeking out $150T. Also, without the middle man (the banksters), no interest is charged. There is a lot less friction in the transactions.
People are already looking at this for art. Think about all the money tied up in painting, sculptures, and drawings. There are hundreds of billions of dollars around the world that can be accessed. The idea of turning illiquid assets into liquid ones is revolutionary. And it can be done without a bankster anywhere in sight.
This is not relegated only to physical assets. We will see a day when the future earning of Elvis' estate is tokenized.....Or an athlete coming out of college...Or Lebron James. Corporations can tokenize their future earnings.
Cryptocurrency is the first applicatoin that is tied to blockchain. It is just that..the first. It is not the last. There will be a lot more applications tied to blockchains in the future. Just like email was the first mass adopted use of the Internet, we saw the evolution of social media, internet communication applications, and streaming content as developments that took place later on.
The same is going to happen with blockchain. Do not get caught up in believing that cryptocurrency is the end. It is only the beginning.
And this is something the banksters cannot withstand. While they are focused upon the threat of cryptocurrency, the real threat is blockchain. The second and third generation applications are going to do them in.
We are going to see a bankster-free world at some point.
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