Crypto-philosophy of BULLIONBLOCK
- September 8, 2018
- Posted by: Crypto Mint
- Category: Crypto Mint | BULLIONBLOCK
Crypto Currencies Must Not Follow the model of Fiat Currencies… It seems that Bitcoin has lost its central philosophy and now it’s all just about the money!
In a sense, what we’re trying to do with BULLIONBLOCK is what the Occupy Wall Street movement did, but in a different way. The Bullion backed Blockchain platform that we have named BULLIONBLOCK, is developed to occupy money, occupy finance, and take back value so it can protect the working class against the elite’s monetary casino.
The BULLIONBLOCK Difference:
Wall Street and the world of finance are the dominant sector of the economy worldwide. You can’t confront capitalism without grappling with them. The dominant financial instruments, like derivatives and credit default swaps, are highly abstract. And they all run on surplus-value production in its capitalist form. They run on speculative energies, and if we want to occupy finance, it’s to take back those speculative energies, for creating new modes of living together as an open decentralized world.
The Blockchain Technology is a disruptive evolution to the status quo by introducing cryptocurrencies as the financial frontier that is paving the way towards a cashless new world order, where there is no intermediary, no governance, and no inflationary geopolitical pressure.
The Fiat currency system we use nowadays that replaced Gold and Silver as money has had a very similar impact to when credit cards replaced cash in our wallets. Fiat money is a currency without any value that has been established as money, through government regulation on behalf of the Federal and Central Banks. Fiat money does not have use value and has value only because our governments maintain its value. It is an intrinsically useless object, which in reality is just a legal tender that serves as a medium of exchange, it is known as fiduciary money. The meaning of the term Fiat originates from Latin, and denotes “let it be done.”
Cryptocurrency designers tend to take up the traditional definition of a medium of exchange, store of value, and unit of account. That traditional market definition, however, doesn’t correspond to how money actually functions in the capitalist economy, because it understands money in terms of exchange and exchange in terms of equivalency.
The capitalist economy actually runs on the production of surplus value, in other words on excess. The very definition of capital is the potential to generate more in the future from a given amount of money invested now.
The libertarian market-fundamentalist ideology behind the design of Bitcoin and embraced by its early boosters simply disregarded the thing that is most characteristic of capitalism, which is, needless to say: capital itself.
But capital caught up with Bitcoin, and its use as a speculative vehicle has led to a near-total collapse of its traditional money functions. The economic ideas designed into Bitcoin hark back to very early ideologies of free-market liberal capitalism. They don’t correspond to how capital actually works, especially if you take into consideration the present-day dominance of financial capital.
If the blockchain, or technologies developing out of the blockchain, are to lead to progressive social innovation, a much more complicated vision of the economy has to be factored in, and for that it is necessary to deal with finance capital. At present innovation in technology continues to reshape the economic stability of banking models. It would be very naive of us to think you could just walk out of capitalism without a market correction.
Humanity has utilized many financial instruments post the ‘barter days’ to create trade movement, products, and services. Governments have always endeavored to control and manipulate humanity with monetary systems. One of the extreme examples is the Global Financial Crisis (GFC) of 2008 that was caused by the incompetent, irresponsible practices of banks. The governments indirectly supported the banks by allowing them to lend risky loans and create financial instruments, such as derivatives. The Quantitative Easing that followed the 2008 GFC has kept the global banking and economic system alive.
As the Central and Federal Reserve Banks continue to prop up the financial, monetary system through printing more and more Fiat currency, the death of paper money is therefore inevitable. While it is true that the Federal and Central banks have been able to postpone the day of reckoning, the inevitable collapse of the current Fiat monetary system will be far worse than that experienced during the 1930’s Great Depression.
The entire financial reporting structure of our governments is specifically designed to support and promote the fundamental lie that our Fiat currency system is sustainable. The information that the mainstream news services tell us is not supposed to inform you, but pacify you and provide a continuous lullaby-narrative to delude you into believing all is well and to question nothing as you do not need to worry.
Average life expectancy for a Fiat currency as history shows us has proven on average to be 27 years. The current fiat system based on the USD when abandonment of Gold and this experiment that began with the paper dollar standard in1972/73 has lead to the mess the world is facing today.
Let us look at two examples; firstly, founded in 1694, the British pound Sterling is the oldest Fiat currency in existence today. Once upon a time, the British pound held value equal to 12 ounces of Silver, so it’s worth less than 1/200 or 0.5% of its original value today. In other words, the oldest standing currency in existence thus far has lost 99.5% of its value.
Secondly, the other example is the USD, which has lost the purchasing power that it once enjoyed since 1913 when the Federal Reserve, which is a privately-owned Central bank (as are the majority if not all other nations Central and or Federal Reserve banks), took over the US banking system. The reality is that the US dollar has lost over 97% of its actual value and is worth less than 3 cents to the dollar. In fact, this applies to most of our current debt-ridden Fiat paper currencies that are used today as money.
To understand how Fiat currencies devalue, let’s use the US dollar as an example; you just divide the 1913 price for an ounce (Oz) of Gold which was around $20.00 by today’s price which is around the $1,250 mark, and just subtract that from 100 and you get the 97% or thereabouts.
They have been printing more money to prop up the global monetary system from collapsing since the 2008 GFC. The truth is, printing more money (Fiat currency) causes monetary inflation, in other words, price inflation. Unlike paper money dollars (Fiat currency), which can be printed out of thin air, Gold does not lose value or fluctuate in the same manner as paper Fiat currencies have shown and as history can prove.
This applies to most, if not all current Fiat paper currencies that are used in today’s global monetary system. The value of all our currencies have lost their purchasing power; the more a currency is devalued, the less you can buy with it because the purchasing power has decreased. And they hide this fact by making claims of inflation, meanwhile salary/wages have not kept up with their so called “inflation”!
History is a factual witness that all currencies eventually fail. Meanwhile, Gold and Silver Bullion have enjoyed a financial money status for thousands of years.
We are all witness to a banking system which is trying to catch up to the Blockchain Technology by initially attacking cryptocurrencies, and now attempting to enroll them into the broken down system. These cryptocurrencies are a threat to the Central and Federal bankers and the entire global monetary and banking system. They fear losing control and the resulting collapse of the western world economy.
Cryptocurrency, like the Fiat currency, does not have any intrinsic value! But, Cryptocurrencies cannot be dumped into the network because of the algorithms in place. However, the plethora of cryptocurrencies will make the marketplace nebulous and force the demand to go down, resulting in a lower value of each cryptocurrency.
The BRICS Nations are all moving away from trading in the USD and forming a Gold backed global economic system. BULLIONBLOCK is introducing a Gold backed digital money service blockchain platform that will protect the user’s money during this global economic reset, and will establish itself as part of the new world economic order.
The company will provide efficient, highly secure and sustainable mobile banking solutions, offering the lowest fees worldwide based on innovative blockchain technology. In 2019, BULLIONBLOCK will launch a cutting edge bullion backed digital banking blockchain fintech.
Our purpose is to provide an alternative option for digital banking that will be a safe haven for everyone to protect their hard earned wealth, but also to truly improve living standards in developing countries by including every person into the global economy advocating equal rights. BULLIONBLOCK is designed for everyday personal banking, business banking, as well as for banking needs by local, state and federal governments. The company has a focus on the One Belt, One Road (OBOR) route and beyond.
BULLIONBLOCK LTD is a member of the Australian Digital Commerce Association (ADCA), the industry body that represents Australian businesses and other organizations participating in the digital economy through blockchain technology.
BULLIONBLOCK is registered with Australia’s anti-money laundering and counter-terrorism financing intelligence agency, AUSTRAC.
The company is also a member of the FinTech Association of Hong Kong (FTAHK), the industry body which represents the Hong Kong and global fintech communities, based on pillars of transparency, accountability and governance.
BULLIONBLOCK has scheduled a Token Distribution Event – that will be announced at the end of September 2018.
-This is an Excerpt from the Executive Summary Introduction from the BULLIONBLOCK Company Profile.