This is definitely a pleasant surprise. So it turns out that HSBC banks have been running a beta test of an actual real-time blockchain payments system. This is a great addition to the mounting evidence which points that the financial reform which we have seen play out since about 2012, may finally be at its culmination. Is this really a global trade payment system reboot?
Well wouldn't you know, and to just add some wood chips to the financial talk fire, it turns out that another bank has also been testing the same technology behind the scenes. Credit Suisse has also put their hard earned (cough bs cough) money into a research and development of a blockchain digital payment system and they are moving big volume on that baby!
This leads me to surmise that an implementation is taking hold in the way countries pay for their imports and exports. The ways of the old corrupt fiat debt system which helps no one but the corpocracy simply do not cut it nowadays, crooks gotta go! Their efforts which have resulted in the loss of balance in trade creates as side effects all the underground markets and then that trickles down to the crime on a corporate and local level. I' m only saying it for the millionth time I know, just saying.
Blockchain will add the transparency needed and can be traded against decentralized currencies which is a precedent ready to be set in the Venezuelan Petro cryptocurrency backed by oil. A gold backed Venezuelan issued Petro Oro is scheduled for this month. On March 26th the next shoe drop will be when China finally launches their 25 years in the making contract for trade in oil for Yuan.
This contract will be redeemable in gold could act to revert the global trade payment system back to the 1970s with the restitution of gold for trade. The difference now could be the implementation of the Blockchain system to keep transparency and intrinsic value of gold as a payment link secured with decentralized cryptocurrencies which can impede any single currency hegemony in trade.
How will Trumps administration respond, could a U.S. government issue cryptocurrency with gold backing assume the last piece of this alleged financial system reboot?
We shall as always watch the way things work out, just stirring the pot. I hope to hear your comments on the subject.
Please take a look at my past posts and let's keep the dialogue going!
https://www.coindesk.com/uk-bank-hsbc-might-soon-pilot-live-blockchain-payments/
https://www.reuters.com/article/us-blockchain-securities/banks-complete-25-million-euros-securities-transaction-on-blockchain-platform-idUSKCN1GD4D1
https://www.bloomberg.com/news/articles/2018-02-16/banks-replaced-with-blockchain-at-international-food-program