Finance
Out of my passion for mathematics, special cryptography, and my affinity to information technology, the field of blockchain, not just crypto currency, has become one of my new fields of activity and business. Often customers and I faced problem areas that cannot be solved professionally in a world without blockchain. Furthermore, the idea of decentralized money is a very exciting one for me, as I have been working for around ten years as a CFO.
In the process, I was able to gain deep insights into the financial system of the world, how processes run, who bears risks, and how the distribution of profits is made. Based on the idea that money as a medium of exchange is a fundamental right, it is not justifiable in my view to leave this field of action to private institutions. How can a financial institution decide whether to open a current account if, without it, every person in our economic space is incapacitated?
More than a quarter of all sales are currently generated in the financial sector with private customers in the area of expenses. Combining these two statements, more than half will be met with a basic right in the form of an expense. This fact already contradicts state responsibilities, because the state does not need to be interested in people who are able and able to act. When I first heard about the cryptocurrencies, better Bitcoin, in 2012 and saw the underlying technology of the blockchain, I was amazed and impressed. Decentralized ledger technologies, like the blockchain, I had often seen in finance, but they were operated by corporations and in camera.
Furthermore, the cooperation with state organizations can be considerably simplified. In the end, the use of blockchain and the build-up, the associated, transparency would in turn strengthen confidence in the financial world. Blockchain technology eliminates the need for the third party to transfer funds, the bank. Any personally motivated room for decisions also, internal regulations and applied business practices as well. Same criteria for all customers. The necessary must to accept their participation in the business process, is eliminated. Buyers and purchasers can independently handle the payment and delivery and perform worldwide. And this at a fraction of the current cost and time. Mountains of infrastructure, be it staff or data centres, which are costly to the customer, without alternative or way out, are a thing of the past. Participants in the business process are only those parties that truly create added value and are essential for settlement. There is no longer a statutory standard participant. Financial institutions are involved when they are needed and thus create value in the process. Of course, the world must not be seen only black and white, tomorrow there will be banks, even the day after.
However, these must be focused and based on the customers, their needs and plans. The customer becomes a customer at this time. Countless cryptocurrencies have been created over the last few years and lifted in 2017 on the last hype. However, only those who offer added value for the customer will assert themselves. Being a pure payment option is no longer a unique selling proposition in a world of „smart contracts“ and „DAOs (decentralized autonomous organization)“. Cryptocurrencies must provide the customer with a clear advantage or benefit, so that they are successful in the long term. The cryptocurrencies themselves must be integrated into the ecosystem of the issuer, the company behind it, and thus be inextricably linked. Only then shares the coin | Token the fate of the company and benefits from it. A creation of Coins | Tokens to get funding, the era of „ICO’s“ like 2017 is over. In my opinion, this legal way leads us to the „ST’s (Security Tokens)“, which offer a coin or classic token, the added value of the binding consideration.
Decentralized and above all transparent technologies, such as the Blockchain, which are accessible to the public and open to the public, would greatly boost confidence in the financial world. No hidden charges or fees, from the beginning on, each item of cost and revenue is transparent. For the state control bodies, as well as every client or investor. Let’s open the financial world with the help of Blockchain, so that everyone can participate or has the opportunity to decide. Nearly two billion people must not be forgotten by the Western world, their untapped potential. The blockchain does what a human should have started some time ago: To make the world a little bit more one …