Global Payment System Race
I think the next big thing in finance will be a replacement for the existing Swift system. The race is on and if your an investor your probably keeping an eye on this space, looking for the eventual winner. These competitors including Facebook, Swift, JP Morgan and Walmart have long ago discovered the blockchain with its lower cost, efficiency, accuracy and more. That’s old news, along with the driving or motivating force for a system to replace the existing one; the cost of transaction fees, estimated at 2.16 billion per quarter for Walmart alone.
No the real problems are how to get the Global Banking System and the beneficiaries of the current system to stop fighting you and sending their political attack dogs to block your efforts and media attack dogs to portray you as the evil force to be opposed at every turn. But as if that’s not a daunting enough task, aka David and Goliath, you still have to deal with the very heart and sole of blockchains, it’s in their DNA to be free decentralized networks, so how do you control it once you build it and release it to the wild?
I claim no special powers with this article. I have eyes to see and ears to hear, but additionally I am a student of the blockchain and in some regards a recording historian of the monumental change occurring in this world, which will effect your grand-children and your grand-children’s grandchildren. The blockchain will inevitably effect the world like the internet did, slowly and insidiously at first and gradually I predict it will become ubiquitous or widespread. Some may argue it already has become widespread.
In any event keep your investors eye on the prize Bitcoin, Facebook’s Coin Libra, the Facebook wallet Calibra, the counterpart in the world to Libra, a HardFork called Open-Libra, an out in the open decentralized alternative to Libra which would in theory work on the LIBRA blockchain!😳😳
Follow the money as Fidelity and Nasdaq get involved in trading and providing custodial services for Bitcoin and other crypto currencies as mainstream investors often have money, but are to busy to learn the specifics of trading and holding crypto currencies. If they do understand, having the custodian hold their private keys will seem natural.
Hold onto your popcorn folks, it’s going to get interesting!
✍️ written by Shortsegments
Read other [articles](http://www.steemit.com/@shortsegments) by me on the Steemit Social Media Platform, where writers get paid for their content by the community by upvotes worth the cryptocurrency, called Steem.
Read my Steemleo investment [Blog](https://www.steemleo.com/@shortsegments)
Please follow my Twitter Feed [Here](https://mobile.twitter.com/shortsegments)
**Shortsegments is a blogger or writer on the Steemit platform, where writers, photographers and video bloggers, along with other content producers get paid for posting their content. Steemit is a decentralized social media platform on a blockchain called Steem. A very important difference between Steemit and centralized platforms like Facebook, Instagram or YouTube, is that there isn’t a central authority or owner to take your account away from you and your account can’t be deleted. You are the owner of your account. Find out more at this** [Link](http://steemonboarding.com/learning-modules/)
**Steem Onboarding helps you apply for an account and is a series of videos which explains how Steemit works. You don’t need to understand everything about the blockchain to post content and our Onboarding help is available in six different languages.**
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I think the next big thing in finance will be a replacement for the existing Swift system. The race is on and if your an investor your probably keeping an eye on this space, looking for the eventual winner. These competitors including Facebook, Swift, JP Morgan and Walmart have long ago discovered the blockchain with its lower cost, efficiency, accuracy and more. That’s old news, along with the driving or motivating force for a system to replace the existing one; the cost of transaction fees, estimated at 2.16 billion per quarter for Walmart alone.
No the real problems are how to get the Global Banking System and the beneficiaries of the current system to stop fighting you and sending their political attack dogs to block your efforts and media attack dogs to portray you as the evil force to be opposed at every turn. But as if that’s not a daunting enough task, aka David and Goliath, you still have to deal with the very heart and sole of blockchains, it’s in their DNA to be free decentralized networks, so how do you control it once you build it and release it to the wild?
I claim no special powers with this article. I have eyes to see and ears to hear, but additionally I am a student of the blockchain and in some regards a recording historian of the monumental change occurring in this world, which will effect your grand-children and your grand-children’s grandchildren. The blockchain will inevitably effect the world like the internet did, slowly and insidiously at first and gradually I predict it will become ubiquitous or widespread. Some may argue it already has become widespread.
In any event keep your investors eye on the prize Bitcoin, Facebook’s Coin Libra, the Facebook wallet Calibra, the counterpart in the world to Libra, a HardFork called Open-Libra, an out in the open decentralized alternative to Libra which would in theory work on the LIBRA blockchain!😳😳
Follow the money as Fidelity and Nasdaq get involved in trading and providing custodial services for Bitcoin and other crypto currencies as mainstream investors often have money, but are to busy to learn the specifics of trading and holding crypto currencies. If they do understand, having the custodian hold their private keys will seem natural.
Hold onto your popcorn folks, it’s going to get interesting!
✍️ written by Shortsegments
Read other [articles](http://www.steemit.com/@shortsegments) by me on the Steemit Social Media Platform, where writers get paid for their content by the community by upvotes worth the cryptocurrency, called Steem.
Read my Steemleo investment [Blog](https://www.steemleo.com/@shortsegments)
Please follow my Twitter Feed [Here](https://mobile.twitter.com/shortsegments)
**Shortsegments is a blogger or writer on the Steemit platform, where writers, photographers and video bloggers, along with other content producers get paid for posting their content. Steemit is a decentralized social media platform on a blockchain called Steem. A very important difference between Steemit and centralized platforms like Facebook, Instagram or YouTube, is that there isn’t a central authority or owner to take your account away from you and your account can’t be deleted. You are the owner of your account. Find out more at this** [Link](http://steemonboarding.com/learning-modules/)
**Steem Onboarding helps you apply for an account and is a series of videos which explains how Steemit works. You don’t need to understand everything about the blockchain to post content and our Onboarding help is available in six different languages.**
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😅😊
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