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THE DEATH OF FIAT – WHY BLOCK CHAIN MATTERS!!


  The advent of block chain technology has ushered in a movement that is reshaping the global financial land scape as it were.  The way money and value is perceived, used, transferred and acquired is changing and it is doing so at an unprecedented rate. For the average mind, money is the reserved bank approved paper or coin in his/her hand. This understanding is at best a distorted view of what money actually is. The interesting thing is, this is what he government will rather have you think. It is a complicated con game of ignorance embedded in modern civilization. This state of mind is a great tool for manipulation in the hands of the government.


   Block chain has ushered in the dawn of a new era in the world of monetary policies; how it is used, understood and transferred. Unfortunately, the number of those who can see through this veil is on the decline – thanks to the crypto bubble. As the internet bubble of the 1990’s so was the crypto bubble of 2018. Sadly, this has played out to the benefit of the government over all. While some might argue that the space is filled with fraudulent activities and con men dressed in corporate attires, (which is true by the way), it doesn’t take away the fact that block chain is a potent force that government are still grappling on the best approach to handle this new tech.

  The block chain technology offers transparent and trustless system, which can either be decentralized or centralized, permission or permission-less systems. It brings about proper accountability and visibility to the activities of parties involved. Do the government and major corporate organizations buy into this of level of exposure? Short answer is no! and the long answer is no!! The new features that block chain brings into daily human economic activities makes it difficult or near impossible for the system to be manipulated. The Central Banks will find it difficult to print money at will and the government will be held accountable for how they run and control the economy. Block chain ensures, no false data that do not obey the rule can introduced arbitrarily and none can be altered (immutability). As technology continues to evolve and the digitized economy gets into full swing, this sun rise will beam upon all and it’s understanding will be clear even to the blind.

PrinceX

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