Massive Wealth TransferssteemCreated with Sketch.

in #money6 years ago (edited)

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Are you willing to scrape together a few funds and put them aside for your future?

There's been so much money that's been hiding. For as long as money has existed, people have been hiding their money. Banks were created as a point of Trust. Over time the banking system has lost a lot of Trust. To such a point many banks have flopped and many on the verge of being insolvent. Banks have also become a serious hurdle in a lot of ways for many people in terms of delays and slow downs. It's become a bit of a gongshow to put it lightly. Big money players in the world have been seeking out the best banks for a long time - mostly pushing their funds into off shore accounts that have better rules then their local jurisdictional banks.

Cryptocurrencies is a far superior vehicle for store of wealth and movement of wealth without friction. The huge point within this is that the banks are cut out of being the holder of peoples funds. Not to mention that whenever you move funds through the bank - they take a decent chunk - especially when the funds cross boarders. But it gets worse...when funds traditionally cross boarders through the banking network it takes days!

There's no need for such an extensive dependence on the banking network. Financial technology is challenging the very nature of the banking model. Software is more efficient, effective and reliable then bankers.

So what does this mean with regards to wealth transfer?

  • Understanding that many big players are looking to keep their money secure and even grow their funds - this makes for huge network effect for the crypto space. Combine this with bits of the middle class jumping in and even the poor jumping in with little bits. An example here: small village in Thailand pooled about 5k in usd to crypto about 7 months ago - village cooperative is way up - that's life changing stuff - and their still in the space. This community is now directly plugged in to cutting edge technology.

Massive Wealth Transfers are in it's infancy. Stay tuned - Patience is a Virtue

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