Despite the fact that cryptocurrencies have been around for a few years already, Bitcoin, Altcoins and Blockchain still is like jibberish to many.
Blockchain technology will have an even bigger impact on society than the introduction and spreading of the internet has had.
It has taken several years before most households were online.
It will take several years to make people familiar with blockchain and cryptocurrencies. We are a few years on our way, still have some to go, but we are accelerating. This process will get faster and faster.
Personally, I can very well remember the days without ‘being online’, without smart phones and apps. Today however I cannot imagine going back to an internet-less era. The same will go for blockchain and cryptocurrencies.
Because I’m rather passionate about the company I’m active in it seemed very appropriate to start a series of blog posts on this subject.
Why is this important?
First of all because the entire process of blockchain and cryptocurrencies has gone too far already. The process has now become irreversible.
It also is important to know why it could make the difference between prosperity and desperation for people, especially to those who are completely unknown of what is expected to happen in our financial world as we know it.
Our financial system is unsustainable
To understand why blockchain was invented, it is important to understand how our current financial systems function.
Our financial systems are controlled by a small group of elites, including the Rothschilds, JP Morgans, and Rockefeller families. The minute you deposit your money at your bank, it no longer is yours. From that moment on it is money owned by the bank and controlled by the bank. They can do with it whatever they want.
Above each bank there are National Banks, Central Banks, the International Monetary Fund, and the International World Bank of settlements. Again, above that we find the Morgans, Rothschilds, and Rockefellers.
In the past years Central Banks have printed immense amounts of new money, without anything to back up its value.
When you’d apply for a loan with your bank and it is granted, you will only see some numbers added to your account. No real physical money is being moved. In fact, of all account holder accounts, the bank is only required to keep a few percent as a minimum. So, if you ever wondered why you need to order larger withdrawals up front? This is the reason.
All of the world’s money, gold, silver, and bitcoin is $12,7 trillion. Global debt amounts to over $150 trillion.
We only have a few percent of all money in physical money, the rest is just numbers in systems. Meaning that if everyone would have to settle their debt today, it could not be done. Scary!
Banks charge interest on loans. Basically it means they add numbers to your account (money they don’t have), then charge you interest on that. They create more non existing money over money they never actually had in the first place.
Add up to that a society that has been brainwashed into living on credit. It doesn’t require rocket science to see that no bubble can continue to grow infinitely and without repercussions.
Many analysts expect a worldwide financial crash that will be equal or bigger to the Great Depression in 1929.
Have you noticed what happened in Venezuela (inflation of 600%, empty shelves in stores, sheer desperation with its population), India (overnight bank notes were made useless), Zimbabwe (max withdrawals of just $20 a day, people cannot access their own money).
Then look at the banks: not a healthy situation at all. Deutsche Bank is under heavy pressure (that is putting it mildly), Italian banks hold way too much unhealthy loans. Italian culture is one of poor repayment behavior that has gone on much too long. One of the oldest banks desperately needs cash to prevent collapse.
In Europe we had bank bail outs in 2009. As per 2015 that has been changed into bail ins, meaning it will be YOUR money being used to keep a bank alive despite its miss management of all funds. Overnight your savings can be gone. Scary!
On top of this all, banks charge a lot of costs to transfer money from one account to another. Authorities control what you are allowed to pay and what not. Payments can take days to arrive at the recipient.
This is why Blockchain was invented, as a peaceful anarchy against powers in place.
In the next blog post I’ll discuss what blockchain technology is (no worries, I will not make it very technical, I want my Mom to be able to understand it too!)