Banking, as we realize it, has been around since the first currencies have been minted-perhaps even before that, in a few form or some other. Currency, mainly coins, grew out of taxation. In the early days of ancient empires, annual taxation on one pig can also had been reasonable, however as empires improved, this sort of payment have become much less appropriate.
However, for the reason that Covid state of affairs, not only have we seemed to transport to a “cashless” society, how crypto markets are progressing (as who desires to deal with doubtlessly “grimy money” in a store), and with “contactless” credit card transaction levels now elevated to £45, and now even tiny transactions frequent, along with a daily newspaper, or bottle of milk, receives a commission by using card.
Did that there are over 5,000 crypto currencies in use already and of them Bitcoin functions exceptionally in that list? Bitcoin, especially, has had a very unstable trading records because it become first created in 2009. This virtual cryptocurrency has seen loads of movement in its fairly quick existence. Bitcoins to start with traded for subsequent to nothing. The first actual fee increase took place in July 2010 whilst the valuation of a Bitcoin went from around $0.0008 to within the place of $10,000 or extra, for a single coin. This foreign money has visible some principal rallies and crashes because then. However, with the creation of what are called “Stable” cash – those sponsored via the US Dollar, or even Gold, this crypto foreign money volatility can now be brought below manage.
But earlier than we discover this new form of Crypto-primarily based E-Commerce, as a technique of controlling and the usage of our property, together with our “FIAT” currencies, let’s first examine how the Banks themselves have modified over the last 50 years or so.
Who recollects the good old Cheque Book? Before Bank Debit Cards came along, in 1987, cheques had been the main manner of transferring belongings with others, in commercial transactions. Then with Bank Debit Cards, at the side of ATM’s, getting preserve of 1’s FIAT assets became a lot quicker, and for on line commercial transactions.
The trouble that has always been present with Banks, is most of us wished at the least 2 private financial institution money owed (a Current account, and a Savings account), and one for every enterprise we owned. Also, looking to move cash out of your financial institution account “unexpectedly” to mention a vacation spot overseas, became some thing like SWIFT!
The different issue was the price. Not only did we need to pay a regular carrier price on every Bank Account, we also had a hefty charge to pay on each transaction, and, of path, in very uncommon events we’d not get any worthwhile interest, on cash in our Current Account.
On pinnacle of all that, Overnight Trading, each night time, using expert financial buyers (or, latterly Artificial Intelligence (AI) Trading systems), all of OUR belongings would be traded, and with the economies of scale, the Banks became a Major Earner on our belongings – but no longer us! Have a examine the capacity enterprise to be made from “OVERNIGHT Trading”.
So, to summarise, no longer handiest do the Banks fee a hefty rate for storing, and moving our belongings, via the usage of smart Trading techniques, additionally they make hefty earnings from buying and selling our cash on the Overnight circuit, for which we see no gain.
The different factor is – do you believe your Bank with all your belongings?
How approximately what Bank of Scotland, who were THE Scotland National Bank, now owed with the aid of Lloyds Banking Group, had been recently labled, in a September press launch that stated “Lloyds Bank Asset Frauds – The Most Serious Financial Scandal of Modern Times.”
Why no longer Google that web website online, and then make your very own thoughts up?
So, now let us take a look at how a Crypto-based totally E-Commerce system have to perform, and how the benefits that the Banks enjoyed with OUR cash, can grow to be essential profit centre for the Asset Holders – US!
On 10th October 2020, a primary new Crypto-based E-Commerce company is being released – FREEBAY.
Briefly, FreeBay, based in Switzerland, is a organization incorporating its very own Blockchain technology, with its very own SAFE Crypto Coin ( Based on V999 era ), and enables its members to switch their FIAT belongings into Gold Bullion, getting rid of the need to contain any BANK.
V999: digital gold empowered through the blockchain; a virtual token, backed with the aid of bodily gold V999 Gold (V999) is a digital asset. Each token is backed with the aid of one tenth of a great gram gold bar, stored in vaults. If you personal V999, you own the underlying physical gold, held in custody. On top of that, FreeBay participants should purchase packages that consist of powerful Automatic Intelligence-Based Trading Robots.
So now, you cannot simplest achieve total independence from a trendy BANK, but you may also alternate, like the Banks, your digital Gold assets, in the shape of V999 Crypto tokens, at the OVERNIGHT systems, handiest now you, the asset holder, get the rewards, now not the Banks.
But there’s even every other great gain in buying and selling V999 Tokens. As you would be the Generic proprietor of the token, so, just like the Banks, whenever a V999 token is traded (i.E. Bought), say, to buy Bitcoin, or every other Crypto forex, a Transaction Fee is charged. Every time a transaction takes region, the familiar owner of the V999 token gets a small percent of that Fee.
Note, that once a Trade takes area, and a V999 Token is bought, in exchange for say Bitcoin, or every other Crypto coin, a small %age of that Transaction Fee is paid to the GENERIC OWNER of that token (i.E. YOU). Because Freebay’s objective is to make the V999 Token one of the most sought-after secure Crypto cash, even after your Token has been offered to any other Trader, as you’re still the Generic proprietor of the V999 Token, on every occasion that Token is traded through another Trader, it’s far you – the Generic Owner of that Token that receives paid the Trading Commission.