–© 2017 J.Hamilton COREresonance.com
Everything is becoming digital. Mail has been replaced by email; the library has been replaced by Google, and bookstores are almost gone. The use of cash and checks has been replaced by debit and credit cards, and debit cards are being replaced by PayPal, Apple Pay, Samsung Pay, etc. Bank transfers are now done by smart phones and computers, and wireless payment services are becoming more evident with each new smart phone model.
Payments are becoming digital as well. Presently, there are approximately 1,200 different crypto currencies (reference) in the world. Each holds its own value similar to the US Dollar vs the Hong Kong Dollar, Canadian Dollar, etc. Crypto currencies “exchange” between each other (within digital wallets) for miniscule fees compared to banks and are fully compatible with most e-Commerce merchants.
Bitcoin was the first crypto currency to find its way into the world economy nine years ago with speculators buying bitcoin low and selling high. And, because bitcoin is not regulated/managed by a gov/bank, it began to flourish. Following along the route of currencies of the past, it is the acceptance of bitcoin that gives it its value! Around the world, bitcoin was discovered to have advantages over traditional currency including:
- transfers across the planet with no fees
- the ability to store it privately within your own digital wallet, and
- full control of one’s bitcoin without fear of confiscation, declaration requirements, etc.
Because of its advantages, businesses all over the world began to accept bitcoin as a payment for products and services. Bitcoin’s ease of use generated stability and its value began to go up—presently $6000 per coin against the US dollar (Oct 2017). Presently there are 1,587 ATM’s around the world—with about eight in Arizona! People (and countries) become empowered as they stepped away from fiat (traditional) currency controlled by the instability of banks and the political process. The rest becomes history.
Because of a massive failure of Kenya’s infrastructure, the local population began using crypto currency seven years ago. Presently, 97% of all transactions in Kenya are crypto currency, the murder rate has dropped to almost zero, and the local economy is booming. A whole new empowered population is emerging in Kenya backed by crypto currency! As their economies collapsed, Greek and Venezuelan populations also moved to crypto currencies for stability for their day to day transactions. This is just the beginning.
More people and more countries will move to crypto currency because of its inherent stability. As more people choose to use crypto currency, its power and value becomes even more firmly established! As governments crumble; as banks with their huge appetites for profits falter, currencies that provide inherent stability will supersede the old.
Millions of people are discovering that if they hold crypto currency, they are immune to the gyrations of government, politics and banks. Better than that, by simply holding crypto currency in one’s digital wallet, it rises in value. See article Why does Kenya lead the world in mobile money?
Time has proven:
As the Usability of a Crypto Currency grows,
So does the Demand, and So does the Value!
Usability = Demand = Value!
Peer to peer transactions is the mechanism by which crypto currencies enter the realm of day-to-day shopping and transactions. Peer to peer transactions, popularized by Uber and Airbnb, deliver a model for a whole new economic system that frees humanity of the influence of the old infrastructure, bankers, credit card companies and other organizations that plunder the masses with fees, late fees, interest and other “tack on” fees per transaction.
Uber and Airbnb popularized “peer to peer transactions” which eliminated the middle man for the purchase of common products and services and made them massively influential and very wealthy companies. This new model allowed the customer to deal directly with the owner or supplier and eliminate a great deal of old “infrastructure.”
Add cryptocurrency to the mix of peer to peer transactions and suddenly the top heavy expense of transactions channeled through banks, credit card companies, etc., comes to an end. People become the owners of their “money” and do with it as they wish instantly and securely, and in utter privacy.
The implications of personal power, individual sovereignty and new wealth generation is staggering! Once individuals begin to accept payment in crypto currency, acquire and spend crypto currency for their daily needs, the world begins to spin in an all-together new manner! A lot of dead weight has been put aside!
As the worth of humans becomes denominated in crypto currency, a currency that cannot be levied, liened, controlled, manipulated or frozen, humanity begins to reap the results of their worth. Never before has a human being owned the result of what they earn without fear of confiscation, tax or fees. Never before has one been able to accumulate their worth outside of the confines of authority figures who dictate the rules!
Peer to peer transactions powered by crypto currency is the front edge of a massive change on how we do business and grow and stretch as a species. Crypto currency, founded on block chain encryption allows individuals to become the owners of what they earn, spend and save for themselves. Crypto currency bypasses old thinking and obsolete infrastructure and empowers the individual.
As individuals become the owners of their own labor, profits and investments held as crypto currency, humanity soars.
Add crypto currency to peer to peer transactions and you have the makings of a new world wherein privacy, safety and a regard for the person doing the transaction is the center of focus—rather than the old top-heavy, infrastructure eyeing your every transaction. Privacy ensues; people make better decisions, become empowered and again begin to rhyme their life with cause and effect. While the model of crypto currency is still in its infancy, its forward momentum is clear.
Crypto currency facilitates the people’s rise in their quest to be individual, sovereign and responsible. Crypto currency and peer to peer transactions is the mechanism by which this occurs.
As quickly as the fax machine came and went, new ideas replace the old and new technologies come in to serve humanity. With the advent of computers in every home and smart phones in every pocket or purse, the next generation of humanity takes off on a range of discoveries about itself denominated in a currency that cannot be tainted by gov or politics or fear of seizure. As individuals leave the banks behind, they become the owners of the sweat of their brow, the fruit of their labors and they become empowered like never before.
With a level playing field, humanity becomes the owner of their labor and inventions and discoveries denominated in a safe currency. They become empowered like never before.
True empowerment includes the ownership of your money “to the exclusion of all others.” If you exchange your labor and your services for payment, have your payment denominated in an incorruptible crypto currency. Bypass the archaic infrastructure of the old dictating the value of your money. Your worth will grow, and continue to grow.
This is social, this is disruptive and this is the new economy. And it is coming fast! In 18 months,
we won’t recognize the existing fiat currency landscape. Traditional money will
disappear just about as fast as the fax machine.
References from a quick Google search:
- Who Accepts Bitcoins As Payment- List Of Companies, Stores, Shops… – Zero Hedge
- 2017 List of Big Companies that Accept Bitcoin & Cryptocurrencies — Steemit
- Bitcoin to Be Accepted at 260,000 Stores in Japan by This Summer – Bitcoin News
- 5 Brand-Name Businesses That Currently Accept Bitcoin — The Motley Fool
- Merchants and Businesses Accepting Bitcoin
Legislative, Banking, Kenya, etc (very incomplete list)
- With a new bipartisan bill HR 835 by the United States House of Representatives, a call has been issued to the US Government to adopt a national policy to promote citizens’ access to new financial innovation including blockchain and crypto currency
- California Governor Jerry Brown signed into law the removal of a ban on the use of cryptocurrencies such as Bitcoin and Dogecoin to “accommodate the growing use of alternative payment methods.”
- California bill AB 129 “repeals an outdated restriction on the use of ‘anything but the lawful money of the United States’.”
- HB 2417, introduced in February of 2017, would make a signature enshrined on a blockchain a legal signature under Arizona law. Conversely, any “record or contract” secured by a blockchain would be “considered to be in an electronic format and to be an electronic record”.
- On June 5, 2017 the Nevada State Legislature became the first US state to approve a bill which will block local government entities from taxing Blockchain transactions.
- Nevada’s Senate Bill 398 recognizes and authorizes “the use of blockchain technology” and smart contracts by Nevada residents. While reserving the right to use blockchains and smart contracts, the legislation mainly serves as a way to ensure that State government will not prevent residents from doing so.
- The Hawaiian state legislature is close to passing House Bill 1481 which focuses on several ways in which Bitcoin and blockchain technology can help the State develop economically. “Crypto currencies such as bitcoin have broad benefits for Hawaii,” the bill reads. While awaiting a vote by both branches, the bill has passed several committees.
- Illinois House Resolution 120, known as the “Blockchain Task Force Resolution,” was simultaneously created in both the House and Senate as a joint resolution to study how and if the State of Illinois, county governments, and municipal governments can benefit from a transition to a blockchain based system for recordkeeping and service delivery. The legislation has passed a House vote and is now waiting on a Senate vote.
- Bitcoin now has an International Bank ID number (IBAN) which allows transactions through PayPal and WorldPay and other digital payment networks; as well as issue debit cards, enabled to process monetary transfers to other banks and accept transfer of crypto currency to their own “location”.
- Bitcoin has been given that status of a “payment service provider” (PSP) by French financial institutions Aqoba and Crédit Mutuel (assets totaling over $581 billion).
- In a study published in December of 2016 in the journal Science, economists at MIT and Georgetown have found that a service allowing users to send and receive money on their mobile phones has significantly reduced poverty in Kenya.