BB Genesis I.
- April 18, 2019
- Posted by: Crypto Mint
- Category: Genesis Series
A Financial System for the Blockchain Era
Sometimes it seems as if you’re standing still, or that the world above, below, and within you is static – like a call on hold, as it were.
However, despite this illusion of stasis, the world goes on turning with or without your consent. Revolution is built into the very nature of our world and universe. Without this fundamental state of change, we surely would not survive another moment – to go on, we need fresh input, new material, and a different way – even if we aren’t aware of the differences at play.
So it goes in every dimension of life, whether that be personal, global, commercial, artistic, or otherwise.
Each epoch throughout the history of human society has found definition in its overarching characteristics. The Bronze Age, Classical Antiquity, the Middle Ages, and the current Information Age all refer to the tendencies of society during those periods. Of note is the fact that the difference in moniker between each age stems from changes in those tendencies across time.
Again, everything changes and nothing stays the same. Why is that? Our needs shift, and we evolve along with circumstances. What worked yesterday may not work today or tomorrow. And, as such, we need to learn to adapt. If we don’t? Well, history is packed full of examples of what happens when something won’t adapt – what doesn’t adapt goes extinct.
Traditional financial institutions like central and commercial banks, payment processors, investment banks, credit unions, and more are all part and parcel of the dominant tendencies of today’s society. Those tendencies are increasingly at odds with emerging ways of not only engaging in commerce with each other, but also with fundamental changes in how we as a society are communicating.
Centralized Infrastructures Are on Their Way Out
Traditional financial institutions have the same basic structure. They’re shaped like pyramids – the bottom of the pyramid is where you find clientele, non-essential personnel, and so on. As you advance toward the tip of the pyramid, you find executives, bosses, and finally, a Board of Directors and the CEO.
This top -> down structure insinuates a clear hierarchy in which those at the bottom have less relevance, importance, and position than those at the top who are ultimately in control. Additionally, because global society has allowed for such organizations to thrive with little opposition, they’ve grown in mass and have become critically oversized.
Amazon, Apple, Facebook, PayPal, Alibaba, and Baidu collectively influence the social, commercial, and epistemological characteristics of society to such an extent that they can, essentially, sway the collective consciousness to the beat of their drum. This centrality is poisonous insofar as it enables the agendas of the very few to have wide-reaching effects.
For a clear example of the precariousness of the situation as it stands, look no further than any one of the several banking crises that have toppled currencies, governments, countries, and individuals within the past few decades. The Argentine economic crisis of the late ’90s, the Japanese real estate bubble that took nearly 20 years to resolve, the epic Global Financial Crisis of 2008 – the list goes on.
In each of these crises, the livelihoods of millions – and sometimes billions – of people were endangered, affected, and lost. The repercussions of the decisions made by a centralized few have reverberated across the pond of humanity, echoing without resolution and continuing to spread further and further out.
According to Oxfam, the world’s twenty-five wealthiest people own as much as the poorest 50% of people on Earth combined. With such a drastic hyper-density of wealth concentration prevailing, it’s no wonder that all it takes to tip the scale of societal destiny is the greed and whim of one prime minister or bank executive.
As the days pass, shades of change are beginning to show themselves. Clearly, what’s accelerated a shift away from centralized financial structures and wealth concentrations is blockchain, starting with Satoshi Nakamoto’s epic creation of Bitcoin.
Nakamoto underscored that Bitcoin and blockchain technology were created in direct response to the 2008 financial crisis, with the genesis block containing the message, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” Banks had utterly failed people around the world and yet, rather than let them fade away as would be natural, governments chose instead to rescue them with funds sourced from the public – the same public that banks had eradicated with their terrible policies.
What Nakamoto sought with the release of the Bitcoin protocol and blockchain was to take the power to make economic policy and determine fortunes/misfortunes away from centralized institutions and place it in the hands of individual people. Blockchain is the first technological development that enables people to master their financial autonomy insofar as they’re in complete ownership of the assets in their control. Apart from this mastery of assets, and even more importantly, blockchain creates the first peer-to-peer mode of financial transacting that has zero need of intermediaries like banks, governments, and others waiting for a handout.
Across the world, people are beginning to harness and cherish the decentralized freedom brought on by using blockchain-enabled financial protocols. The tide is turning against centralized systems, and change is stirring in this early spring for human hope, sovereignty, and wealth creation.
BULLIONBLOCK Is Heralding the Decentralized Economy
Where Bitcoin and other digital currencies stop short is in their offering a complete financial experience to users who are looking for an alternative to the current system. While the brilliance of crypto-currency’s first generation can’t be denied, as always, it’s up to those who come afterward to pick up the reins and keep moving forward.
BULLIONBLOCK is a decentralized financial ecosystem built on the blockchain that is accessible through a simple, elegant, and powerful app. Rather than continue the status quo of hierarchical structures and the disproportionately powerful few, BullionBlock has built the tools needed to distribute wealth and power amongst the many instead.
Just as Bitcoin was built in response to the financial crises of the early 2000s, BULLIONBLOCK has been created in response to the inequalities brought on by all too powerful banks and executives. Having born witness to the evolution of previous cryptocurrency projects, BULLIONBLOCK is picking up from a strategic standpoint that considers their shortcomings and capitalizes on them to build an even stronger financial system in place of the old one.
The basis for BULLIONBLOCK’s strength rests in its merger of bullion and blockchain. Gold and silver are two of the most stable assets known to humanity. Blockchain is the most dependable, secure, and decentralized network ever created. By linking the two together, we’ve created what is, on a fundamental level, the most robust basis for peer-to-peer financial activity that is in existence today.
BULLIONBLOCK’s network is backed by physical gold and silver bullion reserves to protect the wealth belonging to customer accounts from global economic instability. With your account value pegged to an inherently valuable asset like gold and the security of the network guaranteed by the immutability of our highly scalable decentralized blockchain, BULLIONBLOCK is a financial network that is readily equipped for the needs of the next evolution of human destiny.
As we transition away from the destructive tendencies of traditional financial institutions and toward the creative, inspired, and freedom-enabling networks of the blockchain future, BULLIONBLOCK is going to play a vital role in building the tools needed to make that future a reality.
Join us as we move toward the release of our Token Distribution Event and mark the genesis of BULLIONBLOCK, the financial network for everyone.