Empowering the people?

If this roadside seller being rob heads on, the robber go to jail.

But when he being robbed blatantly through inflation, nobody goes to jail.

The (inflation) robber and the poor guy are at two opposite far end of the entire financial food chain.

“The few who can understand the system will be either so interested in its profits, or so dependent on its favours, that there will be no opposition from that class, while, on the other hand, that great body of people, mentally incapable of comprehending the tremendous advantage that Capital derives from the system, will bear its burden without complaint and, perhaps, without even suspecting that the system is inimical to their interests.”

Sometimes people don’t want to hear the truth because they don’t want their illusions destroyed.

Where have all the revolutionist gone?

Blockchain will do to banks what the internet did to media

Socmed (Social Media) put the newspaper into everybody’s phone. Now everyone is a reporter.

When technologists put a bank into everybody’s phone, everyone can become a bank. Where would the banks be then?

As we speak, the crypto world is moving rapidly, progressively.

A bunch of people are trying to form the real “public’s” bank, where unbanked and underbanked have no place in it, where poverty (caused by financial slavery) could really be a thing of the past.

Somehow, history will mark this period of time as another important milestone for human progress, equivalent to that of Renaissance, and Industrial Revolution.

From conceptional coins to corporate tokens to eventually the CBDC (in whatever form it may be), what the people innovate, the power to be appropriates.

Will we witness how things conclude in our lifetime? Only time will tell.
Anyhow we are part of it now.

One for all, all for one.

The Name of The Game

The post The Financial Food Chain appeared first on Blockchain Insider.

• Mission-driven cryptocurrency requires an active commitment to equity
• Leaders of global CBDC projects talk shop in panel today

Reading Notes

Doing Good

Doing good costs time and money, and it is rarely profitable.

If it were so easy and rewarding, the financial exclusion would likely not be a problem for billions of people in the first place.

But that is the point.

If a company is to claim that it is mission-driven, it cannot simply make its products and assume that it will be used for good.

Even if that assumption is correct, a mission-driven organization must-do part of that work itself if it is to ensure its products and work are directed toward doing good.

Cryptocurrencies

Cryptocurrencies can create a financial infrastructure uniquely suited to addressing financial exclusion, but without enabling easier access to that infrastructure, its benefits are not fully realized.

The real barrier is poverty and people’s inability to access the most basic infrastructure, including the internet and smartphones, which are outside of a cryptocurrency company’s direct mandate.

A mission-driven company will have to understand the societal problems of today and determine when they can be solved by technology and when they require something more entirely.

https://cointelegraph.com/news/mission-driven-cryptocurrency-requires-an-active-commitment-to-equity

Leaders of global CBDC projects talk shop in panel today

“The challenge is not so much technology in itself, but it’s more about — we have to choose what sort of policy objectives do we want to focus on, what is the problem we want to solve. Depending on what that is, and the purposes we want to serve, then you choose the technology after that.” ~ Cecilia Skingsley, First Deputy Governor of Riksbank, the central bank of Sweden

“If there’s a winner, I don’t think the winner is necessarily who’s first and the loser is necessarily who’s last. What matters is, which central bank successfully incorporates its societal values in the successful development of CBDC. On the other hand, one can’t be too late to the game here.” ~ J. Christopher Giancarlo, former U.S. CFTC chairman.

https://cointelegraph.com/news/leaders-of-global-cbdc-projects-talk-shop-in-panel-today

The post Technology and Purposes appeared first on Blockchain Insider.