Weird question I know... but hear me out for a minute. I have a theory haha, don't we all?!
Let me set the scene, so the year is 2009. We have the corporation of the United States operating in a post-Lehman or post the big short landscape. We have scandals revolving the fall of (at that time)the big daddy of financial corruption in the Madoff Money Monster. I mean that guy ran the S.E.C.! He was the regulator and he was apart of running the scheme! Well, we also had a mortgage (death pledge) system lose its grip on so much of the financial sector and people begin to learn just what debt really is and how it affects our lives. How it hurts us! We still have not rebounded from that one no matter what they say, but we have gotten a whole lot smarter about finance.
This was a bad time for the corporation of the United States which is normally described out in public by its mainstream identity of the federal government, I like to call it the C-USA! The debt system in which the C-USA operates was unable to continue and a fix was needed!
Inscribed on the very first blockchain from 2009 it states: "Chancellor on brink of second bailout for banks".
Since that point there has been the growth in the background of a blockchain or FINTECH began to be all the rage.
Many different initiatives had come and gone all adding to the current system we see around us known as blockchain.
What needed to be fixed was the rampant corruption and embezzlement going on in finance which created a skim for the activity. With a fiat system or debt system in place there would not be much change if there can always be a manipulatable ledger which records the transactions that occur in global trade.
So we see as well as counter to the global banking system be declared in the east with the establishment of the Brics Banks, now knowns as the New Development Bank, and the AIIB Development Bank. Both entities have raised funds and have developed a record for infrastructure projects and aid in many underdeveloped nations since 2011.
More recently the Brics Banks have accomplished their project of an alternative to the global payments system which has been used with no option to compete in its global trade payment system throne. This system is known as CIPS.
Cross-border Interbank Payment System (CIPS) is an instant global money transfer which is also free of fees. It creates an ability for money to move unabated to countries which the current SWIFT system eludes like Venezuela, Iran, North Korea, etc. Sanctions are performed by the SWIFT payment system simply not allowing the dollar to flow to those nations in the exchange network.
These digital evolutions being seeing in our global payment has been further advanced with the launch by one the most heavily sanctioned countries which is Venezuela. They have launched a Government issued and oil-backed crypto coin called the Petro. This is another signal towards a move away from the petrodollar system or federal system. This is been bolstered with a 2nd announcement for a gold backed crypto issued by the Venezuelan Government.
What began in 2009 huh? We have to wait and see how this all plays out but as they say, the writing is on the wall. Could a blockchain currency issued by government and metals backed be the fix finally aproaching completion?
There is always more to explore, I will continue to explore my friends and share my musings on the subject. I hope you want to know where it leads, and I will follow up. So be sure to follow me or upvote or comment! I wonder what my fellow steemians think. Let's keep the debate flowing!
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https://www.aiib.org/en/index.html
https://www.ndb.int/
http://www.xinhuanet.com/english/2017-06/21/c_136384061.htm