U.S. Federal Reserve explores the potential of BLOCKCHAIN but lacks vision..!!
FEDERAL RESERVE
Credit: cointelegraph
I was scanning across my news feeds earlier and saw this piece I thought I would share.
Credit to cointelegraph for the excellent content.
https://cointelegraph.com/news/us-federal-reserve-explores-the-potential-of-blockchain-lacks-vision
Credit: cointelegraph
Credit: cointelegraph
Credit: cointelegraph
BLOCKCHAIN Technology will in the future be the beating heart at the centre of the new Global Financial System and Central Banking will be replaced by the Technology.
Not surprising to hear that there was lack of vision for it.
The future of Global Banking and Central Banking will look exactly like this..!!
There is no need for Central Banking..!!
Once again this is an excellent article and well worth reading.
Thanks for reading.
Stephen
Actually, there won't be need for any banking as we know it today. In the world of decentralised cryptocurrencies banks in this form will cease to exist. They may try to survive a little longer by returning to the Gold Standard and imposing a pseudo-blockchain (with all nods under their control) but that won't work. Normal blockchain would force them to do honest business, which they are not used to. As they face demise, they are going to introduce more violence into the system. But in the end, just as you predicted earlier, decentralised cryptocurrencies will prevail and new kind of banks will emerge – public banks:
I do not doubt that you know all of this already, I just put this material for the people who follow you and still didn't see this episode of Keiser Report.
Thank You and good luck.
Thank you for your support. Stephen
Janet Yellen, tht's my lady! Very great p0st, thank you and Resteemed ;)
AWESOME..!! Thank you very much. Stephen
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