BLOCKCHAIN is about to be fired at Global BANKS..!! What could possibly go wrong..!!
BLOCKCHAIN is ready to be fired at GLOBAL BANKS
The interconnected complex world of Global Banking is about to have BLOCKCHAIN fired at it from a cannon..!!
BLOCKCHAIN, Bitcoin's underlying Technology, is about to be fired into the complex and systemically connected Global Banking System and the results could be unimaginable..!!
The present Global Banking System has morphed from the ANTIQUATED and ANALOGUE System developed in the 1970's into the Global Digital Banking System that we know today.
However things are about to get interesting, and I mean VERY INTERESTING..!!
The Current Banking System is a complex network of Global Banks each effectively betting against each other in the form of GLOBAL FINANCIAL DERIVATIVES.
These GLOBAL FINANCIAL DERIVATIVES are balanced against DEBT and together form in essence the complete SYSTEM .
Today this SYSTEM is exceptionally fragile as these DERIVATIVES have pushed the boundaries of RISK to the limits of the SYSTEM.
Up until today there is NOT ONE Decentralised Platform that contains the total DERIVATIVES and one that could be used to model certain scenarios.
I have been banging on about this issue for over 18 months now and repeatedly have reiterated ".....that there is NOT ONE person on the Planet smart enough to calculate the Systemic Failure of such a SYSTEM..!!"
This is about to change..!!
BLOCKCHAIN is set to be applied to the GLOBAL FINANCIAL DEBT + DERIVATIVES and will for the first time allow this complex COCKTAIL of DEBT and BETS to be measured.
".......What could possibly go wrong..!!"
We are living in challenging and testing FINANCIAL times and the application of BLOCKCHAIN to GLOBAL FINANCIAL DEBT + DERIVATIVES is set to be written into the History Books and will go down as one of the most MAJOR FINANCIAL DISRUPTIONS of modern day.
This really is a GLOBAL FINANCIAL GAME CHANGER of EPIC PROPORTION and only time will tell the results of this Technological Revolution AFTER the cannon has been FIRED..!!
Thanks for reading.
Stephen
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I would put the national + corporate + personal debts and the derivatives on the same side, and taxes + inflation on the other.
Derivatives are debt too, it's just a more standalone & securitized debt. The mere existence of a derivative means that leverage has to be used.
It's the taxes that the taxpayers pay and the moneyprinting (more debt) that is keeping the system together.
I will be one of the first to watch "their" blockchain in action. I am glad it's not "The" blockchain - meaning the Bitcoin blockchain. The banks will need their own mining equipment and their own site - maybe https://bankchain.info?
Who knows?
What I want to know is, who does that little blue guy represent? Who is "firing" the cannon?
I also question your inference that the entire house of cards derivative system will be captured for analysis on a blockchain. I do agree that some banks are exploring the use of blockchain technologies, but from what I gather that is more of an ad hoc, independent effort not a global, all encompassing agenda.
What evidence do you have to support your assertions here?
In the future ALL BONDS, SECURITIES, DEBT and DERIVATIVES will be cleared in ONE Global Decentralised Distributed Ledger. There will be NO NEED for Clearing Houses, Ratings Agencies and Central Banks as the entire GLOBAL DERIVATIVES & DEBT will be on a BLOCKCHAIN. Exciting times ahead. Stephen
It would be interesting if that came about. I am not convinced it will tho. Thakx for the article.
Thanks for your comment I appreciate it. It is guaranteed to happen and I am 100% confident. Stephen
"What evidence do you have to support your assertions here?" I just know..!! Stephen
Kind of interesting,but not 100% correct from my point of view .
Why? I am interested to hear why you don't believe that it is not 100% correct. Thanks. Stephen
I think global banks have more strategies they can deploy to much delay any technology/new monetary asset influence on their sometimes bancrupt asset balance.
just remembered that my friend told me few days ago that he had a seminar where the local stock market was explaining how they are working with someone to implement blockchain
BLOCKCHAIN is set to to be used for the clearing of BONDS, SECURITIES, DEBT and DERIVATIVES in the future. Exciting times. Stephen
tweeted!
https://twitter.com/OZmasterCB/status/799754856462331905
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Thanks I appreciate it. Stephen
Well done! Upvoted and followed.
Thanks I appreciate the support. Following. Stephen
"What could possibly go wrong" is simply: they (banks and fintech) are using networks which aren't connected with Internet (or isolated with several technologies from the public internet) to implement this technology. So that, under the point of view of the common people, this change will not be noticeable.