Will Crypto-Based E-Commerce Destroy the Dinosaur-Style Banking Industry?

Banking, as we comprehend it, has been round because the first currencies had been minted-possibly even earlier than that, in a few form or every other. Currency, in particular coins, grew out of taxation. In the early days of ancient empires, annual taxation on one pig may additionally had been affordable, however as empires elevated, this sort of price became much less perfect.

However, for the reason that Covid scenario, not simplest have we appeared to transport to a “cashless” society, (as who desires to cope with potentially “dirty money” in a shop), and with “contactless” credit score card transaction tiers now expanded to £45, and now even tiny transactions regular, such as a daily newspaper, or bottle of milk, receives a commission by way of card.

Did you realize that there are over five,000 crypto currencies in use already and of them Bitcoin capabilities surprisingly in that list? Bitcoin, mainly, has had a completely volatile trading records because it changed into first created in 2009. This digital cryptocurrency has visible a variety of action in its fairly quick lifestyles. Bitcoins first of all traded for subsequent to not anything. The first actual price growth came about in July 2010 when the valuation of a Bitcoin went from around $zero.0008 to within the area of $10,000 or greater, for a single coin. This currency has visible a few foremost rallies and crashes due to the fact then. However, with the introduction of what are called “Stable” coins – the ones backed by way of the US Dollar, or even Gold, this crypto currency volatility can now be brought under manage.

But earlier than we explore this new form of Crypto-based totally E-Commerce, as a way of controlling and using our property, such as our “FIAT” currencies, allow’s first have a look at how the Banks themselves have wewe 100 eyro changed during the last 50 years or so.

Who recollects the best vintage Cheque Book? Before Bank Debit Cards got here alongside, in 1987, cheques were the principle way of shifting belongings with others, in industrial transactions. Then with Bank Debit Cards, together with ATM’s, getting maintain of one’s FIAT assets have become plenty quicker, and for online business transactions.

The trouble that has constantly been present with Banks, is maximum people wanted at least 2 private financial institution money owed (a Current account, and a Savings account), and one for each commercial enterprise we owned. Also, trying to move cash from your bank account “rapidly” to say a destination remote places, changed into some thing like SWIFT!

The other difficulty become the fee. Not most effective did we ought to pay a normal carrier fee on each Bank Account, we also had a hefty price to pay on every transaction, and, of course, in very uncommon occasions we’d not get any profitable hobby, on cash in our Current Account.

On top of all that, Overnight Trading, each night, using professional economic investors (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 property – but now not us! Have a look at the capability enterprise to be made from “OVERNIGHT Trading”.

So, to summarise, now not only do the Banks fee a hefty rate for storing, and shifting our property, by using the usage of clever Trading strategies, in addition they make hefty profits from buying and selling our money on the Overnight circuit, for which we see no advantage.

The other point is – do you trust your Bank with all of your assets?

How approximately what Bank of Scotland, who were THE Scotland National Bank, now owed by means of Lloyds Banking Group, were recently labled, in a September press launch that said “Lloyds Bank Asset Frauds – The Most Serious Financial Scandal of Modern Times.”

Why not Google that internet website, and then make your own mind up?

So, now let us test how a Crypto-based totally E-Commerce system ought to function, and how the benefits that the Banks loved with OUR cash, can turn out to be principal profit centre for the Asset Holders – US!

On tenth October 2020, a major new Crypto-based totally E-Commerce employer is being launched – FREEBAY.

Briefly, FreeBay, based in Switzerland, is a organisation incorporating its own Blockchain technology, with its personal SAFE Crypto Coin ( Based on V999 generation ), and allows its members to switch their FIAT belongings into Gold Bullion, putting off the need to involve any BANK.

V999: digital gold empowered by way of the blockchain; a digital token, sponsored with the aid of physical gold V999 Gold (V999) is a digital asset. Each token is sponsored with the aid of one 10th of a quality gram gold bar, stored in vaults. If you own V999, you very own the underlying physical gold, held in custody. On pinnacle of that, FreeBay members can buy programs that include powerful Automatic Intelligence-Based Trading Robots.

So now, you cannot simplest acquire overall independence from a fashionable BANK, but you could additionally trade, like the Banks, your digital Gold assets, inside the form of V999 Crypto tokens, on the OVERNIGHT systems, most effective now you, the asset holder, get the rewards, no longer the Banks.

But there may be even every other top notch advantage in trading V999 Tokens. As you will be the Generic owner of the token, so, just like the Banks, whenever a V999 token is traded (i.E. Sold), say, to purchase Bitcoin, or some other Crypto forex, a Transaction Fee is charged. Every time a transaction takes area, the customary proprietor of the V999 token receives a small percent of that Fee.

Note, that when a Trade takes location, and a V999 Token is bought, in trade 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 goal is to make the V999 Token one of the most sought-after safe Crypto coins, even after your Token has been offered to any other Trader, as you’re nonetheless the Generic owner of the V999 Token, every time that Token is traded by every other Trader, it’s miles you – the Generic Owner of that Token that gets paid the Trading Commission.