New bank based on blockchain and crypto is on its way
Maven Mutual is built around the blockchain and cryptocurrencies, and will overturn our understanding of banking altogether, says founder Sonny Fisher.
Ciaran Ryan is a Johannesburg-based freelance writer who has a background in finance and mining, having previously headed up a gold mining operation in Ghana. He currently writes for several SA and overseas journals on matters ranging from mining to investment.
Spoke like a true supporter of the current financial system! Accusations he makes directed at Crypto re Money laundering are a joke!
The 39 year old updated current system is so ineffective to control money laundering that some banks have been doing there own money laundering! But they just a rap on the knuckles and a fine for their shananigans! What about the inventive and immeasurable derivatives markets?
The volume of $ and other fiat currencies being used for nefarious means would far, far exceed any Currency on the blockchain. Besides anyone can track the movement of BTC in the blockchain- this is not totally anon!
The real trouble is banks and their ‘money creation’ system have been instrumental in bad mouthing Crypto as it offers real viable competition for many of their functions because if its popular/financial advantages. Its the only hope for the worlds lower middle class and the unbanked to get into the financial markets and improve their lot! The last 5 years of crypto development shows up their reluctance and opposition to supply necessary bridges to help these markets develop. They are too used to extracting as much as they can from folk for their not much longer services and loans. Hence the DeFi crypto developments getting growing right now.
While crypto will not entirely replace the services banks and finance houses offer, they will disrupt them into offering better and cheaper services which together with Crypto, is to the benefit of both people and Businesses!
Inflation and its damage to peoples wealth is yet another subject that sees Crypto largely offerin a win win situation.
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Use it for government tenders.
13
Whatever it takes to increase competition in the Banking Sector is great news for consumers!
9
The Gold Standard Bank, registered in Germany, is supposed to be the first bank ever based on blockchain. The bank opened earlier in December 2020. On December 15 their crypto coin g999 will start to be traded.
https://www.i24news.tv/en/news/technology/1603354935-gsb-gold-standard-banking-introduces-unique-blockchain-ecosystem
2
Buzzword Bank
1
They gonna run out of names for crypto platforms
2
Spoke like a true supporter of the current financial system! Accusations he makes directed at Crypto re Money laundering are a joke!
The 39 year old updated current system is so ineffective to control money laundering that some banks have been doing there own money laundering! But they just a rap on the knuckles and a fine for their shananigans! What about the inventive and immeasurable derivatives markets?
The volume of $ and other fiat currencies being used for nefarious means would far, far exceed any Currency on the blockchain. Besides anyone can track the movement of BTC in the blockchain- this is not totally anon!
The real trouble is banks and their ‘money creation’ system have been instrumental in bad mouthing Crypto as it offers real viable competition for many of their functions because if its popular/financial advantages. Its the only hope for the worlds lower middle class and the unbanked to get into the financial markets and improve their lot! The last 5 years of crypto development shows up their reluctance and opposition to supply necessary bridges to help these markets develop. They are too used to extracting as much as they can from folk for their not much longer services and loans. Hence the DeFi crypto developments getting growing right now.
While crypto will not entirely replace the services banks and finance houses offer, they will disrupt them into offering better and cheaper services which together with Crypto, is to the benefit of both people and Businesses!
Inflation and its damage to peoples wealth is yet another subject that sees Crypto largely offerin a win win situation.
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