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Old 11-18-2016, 11:58 AM   #1
A.T. Hagan
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Default Sweden could be the first country in the world to issue 'digital currency'

Swedish central bank Riksbank is exploring the idea of a 'digital currency'
The system could save tourists a trip to the currency exchange desk
Sweden is seeing a huge decline in the use of traditional notes and coins


Riksbank, the world's oldest central bank, has announced that it's
exploring the concept of a 'digital currency' to accompany its
Swedish kroner notes, pictured
Chance favors the prepared mind.
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Old 11-19-2016, 12:30 AM   #2
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"[b]lockchain won’t just kill banks, brokers and credit card companies. It will change every transactional process you know. Simply put, blockchain eliminates the need for clearinghouse entities of any kind. And that means a revolution is coming, a fundamental sea change in the way we do business."
--Martin Hiesboeck, April 06, 2016--
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Old 11-19-2016, 11:41 AM   #3
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What idiots.

This is what happens when the bureaucrats take over .

Who benefits , the banks do ( of course ) .

Who loses , you do ( of course ) .
- Loss of privacy
- Loss of control of your money
- Loss of ability to escape bank fees and charges .

These people scare the hell out of me .

All paper is a short position on gold . “Gold is money. Everything else is credit.”

“If we don’t believe in freedom of expression for people we despise, we don’t believe in it at all.” ( Noam Chomsky )

‘you can judge a man’s spirit by the amount of truth he can tolerate.’ .... Nietzsche
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Old 11-19-2016, 12:51 PM   #4
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Default The banks are poised to meet their scariest competition yet: blockchain

***Seven hundred years ago, the Medici family figured out something so clever and transformative it's like sci-fi to imagine the global economy without it. The Florentine bankers realized it wasn't necessary to own all the businesses (along with all the risk) to be wealthy and powerful; it was much better to keep track of their debts and credits, loan them all money and then take a slice of all their transactions. Risk was greatly reduced, banks did well in bad times and good, scale and opportunity for growth were limitless.

And lo, the modern bank — and banking business model — was born.

Canadians are really good at banking. In 2015, the World Economic Forum ranked our banks as the soundest in the world (for the eighth consecutive year), and in Q3 2016, our five biggest delivered almost $10-billion in profit. They're also global: TD Bank now has more branches in the U.S. than Canada.

But now, another innovation is poised to shake up the banking world on an almost unimaginably larger scale.

You've likely heard of bitcoin, which is cryptocurrency (essentially digital money). For now, forget everything you have read, heard or assumed about bitcoin; think instead about the software that makes bitcoin and other digital currency possible. It's called "blockchain," and inside of a decade, blockchain will upend the familiar order established by the Medici family in the 14th century.

Blockchain is open-source software (free to anyone who wants to code with or improve it) that provides unhackable, authenticated and indelible records of transactions — something that, until recently, only banks could approximate at scale...***

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