Financial system of the XXI century

So, we have already identified the main problems of humanity and the future that you and I can make available, if we join our efforts. But we must understand that this cannot happen in a moment, even if we do really want. The preparation of a new future takes time and our common actions in this direction.

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We cannot declare war on the current system – it is counterproductive and will strongly erode our strength. In addition, the law is on the side of the “money bags”, so we cannot count for justice. Any decisions will not be in our favor, because our goals and objectives undermine their monopoly on power and resources.

But we also cannot sit back and wait for them to take away the remains of our freedom or until their system fall apart. So what shall we do?

We must take alternative steps, which do not contradict the laws and, at the same time, bring us closer to a full realization of our objectives. You must use the opportunities that are available to us today, in the framework of the existing system.

2

Let us recall what keeps their power. It rests on the oil and dollar. But we’ll deal with the oil immediately after the dollar. After all, oil is a natural resource, and the dollar is unscrupulous work of human hands. We should start with dollar.

Remember what we talked about in the first part of the presentation? Bankers printed papers and made us accept them as money. And with the help of these papers we buy goods and pay for services. Companies trade with each other with the help of these same papers. And interaction in this world is due to the circulation of these papers. These papers have a power over us as long as we continue to recognize their billing costs and use them as a means of calculation for goods or services.

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Uncontrolled printing of these papers can bury their typewriter itself, you only need to stop using the dollar between us as a calculation. If we cease to use their money in our usual calculations, thus we cease to maintain their power. And very soon, their money will be depreciated a thousand times, because they are not provided with anything on which they are printed in addition inks and paper.

Right now there is a reasonable, safe, and most importantly – fair alternative to paper money. It is crypto currency. It cannot be faked. It cannot be afraid of inflation, as it’s issued a limited number of coins. It provides complete anonymity of transactions, since there is no information about the owner of the purse. It is difficult to overestimate the role that electronic money can play in the near future.

4

Cryptocurrency is a new financial phenomenon. Many experts and economists openly declare that it is the virtual currency that can be the basis of the new financial system and become the main means of payment of our future.

One of the cryptocurrency founders, Mike Hearn, called cryptocurrency “a new financial system created from scratch by the people and for the people”. This is the money without the “nationality”, which exists due to the exchange between equal parties, and is free form regulations and financial intermediaries. It is not the bankers, because there are no banks. No banks, because their existence is not necessary: the people control their money by themselves. The rules work because the system participants make them act. Even software developers cannot interfere with it against the will of users.

The first users of blokchain technology were people with a direct relation to the Internet. There are people or companies, that offer goods or pay for services online. In just a few years cryptocurrency range of users has grown by tens of times, but it continues to gain popularity as quick as possible.

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And today you can buy for cryptocurrency beer in Berlin, order pizza in Amsterdam or pay for a hotel in Russia. You can hire a taxi or buy airline tickets to Edinburgh, go to the dentist in Tokyo, or pay for your studies in Paris. You can buy socks in New York, or even fly into space with Virgin Galactic. You can transform everything into a digital format – even, for example, to pay for the lemonade, which is bought at a street fair. After all, anyone with a smartphone can accept cryptocurrency payment and he will not need any bank account operations.

The world was divided into two groups: those who favor blockchain technology and its opponents that connect virtual money with money laundering or terrorism financing. Countries with their own stable and strong currency support electronic money and countries with a weak currency are trying to ban it. Trying to limit cryptocurrency now is clear: to this point she had not any significant application however.

Even the Bank of England has asked scientists at London College University to develop a virtual currency system, by analogy with Bitcoins. However, in their cryptocurrency, called RSCoin, they have provided eternal Trojan horse in the form of unlimited emissions.

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Today there are more than two hundred varieties of virtual money, such as E-dinarcoin, EDRCoin, Ripple, Litecoin, Lisk, Dash and many others. But so far the most famous and popular crypto currency is Bitcoin.

The first and main advantage of technology is the amount of final emission of the virtual currency. Initially, everyone knew about that factor, as well as nobody could spin out new coins of the air. All users can observe the process of crypto currency creation in real-time under control of millions of participants whichtake part in the process.

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The second advantage of blockchain is security. The technology does not provide any falsification, as it is initially focused on the main principles of decentralized and distributed register file. It means that the entire chain fragments are evenly distributed between users of the cryptocurrency. Any hackers who want to change the secure information on their computer will face the necessity to change it to millions of other computers in a similar way and that is physically impossible.

Moreover, blokchain security can be used to organize general elections. Falsifying the results is absolutely impossible. All operations with giving the votes are visible to any user via Internet in anonymous form. Information about the elections is stored on all computers that are being used during the cryptovoting period. The computers of voters support each other as a single mode body in a real-time. Nobody can disrupt cryptoelections. The cryptoelections can be disrupted only if you destroy the entire web.

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Our international movement CWT will definitely provide using of voting system based on blockchain technology to make key decisions. These elections or voting on the adoption of solutions will be the most transparent and fair. People’s choice is the best option. It is not just words: blockchain technology cannot betray people’s trust. It just not able to do it.

The third advantage of the technology is the elimination of all intermediaries in the system. All operations with money, documents and different information pass through intermediaries inevitably. Banks, public bodies or notaries constantly confirm the authenticity of the operations that have been done. It requires time and paying fees each intermediary who is involved in these processes. Blockchain technology allows to avoid paying fees and reduce the time of such operations to a few seconds. Moreover, the distance will not make any difference, it is like sending an e-mail

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P2P lending was created one decade ago in the USA and nowadays the market volume of such operations amounts to US 5$ billion. Previously, the commercial banks gave credits to ordinary people but nowadays blockchain technology allows borrowers to cooperate with lenders without any help of intermediaries and most importantly, without using any paper currency. All people involved in this structure are bankers to themselves.

Herman Gref, head of the largest bank of Russia, said: “This is a revolution in the international lending. If the traditional banks are not preparing a revolution, then the revolution will swallow up the traditional banks.”

Well, what if we go further? Imagine the example of P2P lending. The ordinary creditors may unite in small or large credit associations to finance various economic projects, it’s like fundraising. Transparent and fair blockchain technology can do it easily.

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The fourth advantage is anonymity. Blockchain technology does not work with names and surnames, it doesn’t need your age, sex or your wife’s consent for making any transaction. The only thing that it needs is a unique combination of 32 characters consisting of numbers and letters in random order, which is calculated by the system.

Thus, we have realized that the future is coming thanks to the cryptocurrency. It is easy to use it, there are no boundaries for it and it doesn’t belong to the global bankers. For now. Nowadays R3 consortium, which currently combined 42 banks around the world (Barclays, Bank of America, Credit Suisse, JPMorgan, Goldman Sachs, Morgan Stanley, Santander etc.), is actively working on the implementation of blokchain technology in the banking systems.

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They are afraid of using blockchain technology. According to the new report of the largest audit company Price Waterhouse Cooper (PwC), the representatives of the global monopolies see the possibility of capture 33% of business of their outdated financial system in the near future: “We believe that blockchain technology can lead the financial services industry to the radically different competition in the near future, where the existing volumes of income will be split and redistributed in favor of the owners of the new high blokchain platforms”.

Now I will tell you a parable about the broom. One old man had three sons. And they could not get along. The old man really wanted his sons to live in peace after his death. He decided to teach them. One day, he convened them together and asked them to break the broom in half. First, the eldest son tried to break the broom but he couldn’t no matter how much he tried. The attempts of other sons failed too. Then their father separated the broom straws from each other and asked his sons to break a few straws. This task was easily and successfully completed. Then the old man said: “Same in your life. If you are together, you will not be broken. But if you’re divided, you’ll be easily broken like a few broom straws.”

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What conclusion can we draw from this parable? When a small community of people is combined and full of solidarity, while a big group of people is separated disputing and arguing with each other, the small community can lead the biggest one wherever it wants. The biggest group of people just has a lack of unity.

Over 40 million people use Bitcoins and over 100 million people use cryptocurrencies in general. We will easily increase this number several times, if those, who do not agree with the current world order, join us and want to go along with us towards a resource-based economy. As you can see millions of people are already united, and moreover, the whole world will be united too!

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We need to unite. That’s what bankers are afraid of. Stop grabbing the biggest piece of the pie and arguing about better or worser things.  While we are arguing, they are being combined. They have already combined 42 international banks only for control of blockchain technology. Let’s not waste our precious time, otherwise blokchain will not serve the public, but a few bankers.

Realizing all imperfection and injustice of the current financial, economical and global management systems we offer everyone, who wants to change the world, to unite into an international movement. Now you have a unique chance to make history, build the future of your children and grandchildren.

The main objective of the first phase is creating of the biggest international movement involving over 200 million people.

CWT movement!

Together we can do much! Together we can change the world!