Today, appearring on U.S. television Bloomberg, fossil-thinking Danish central bank governor, Lars Rohde, came out to say that cryptocurrencies are a fad (see: Cryptocurrency Can Be Ignored as Fad, Danish Central Banker Says), which anyone can ignore safely.
Back in 1994, many oldsters suffered from the same retarded thinking as Rohde does. They clamed the Internet would be a passing fad.
The Blockchain Economy Tsunami: Here is Where We are Headed
So think of this. Instead of owning a whole office building in Manhattan, the building will be fractionalized into tokens and you can own as much or as little of the building as you can afford.
That is where we are headed.
The blockchain economy combines what bankers do with what organized markets do. In doing so, men will be further advancing mankind by having created a superior risk reduction mechanism.
Bankers are manufacturers of credit. They take property that can not be sold easily, and collaterialize it. That way, they could sell it to reclaim a debt owed, i.e. This lets bankers make credit upon property that would have a time lag in selling. That is what bankers do, in effect, though 999 of 1000 men or women would not know this.
When a banker has confidence, that confidence is not in the borrower, but in what the borrower has in case the borrower stops paying. The confidence is in the existence of a ready-market for resale property to pay off a debt.
Organized markets are merely ways to package property by grade and number. A stock is merely fractional ownership of uniform size. The same can be said of a futures contract for oil, corn, soybeans or what have you.
So this writer sees a future where a Manhattan skyscraper is fractionalized. Entire buildings will be turned into tokens by grade, with the apartments on the floors and the tops being worth more than in the middle, typically.
People will buy and sell these tokens, i.e., cryptocurrency, as they do any commodities futures contracts. The beauty of this is the further democratization of capital.
To understand how I know this will happen, see my work, which is the only true, correct theory on economics:
THE THEORY OF TRADING PROPERTY FOR PROFIT
Traditional commercial bankers are going to be squeezed out of the Blockchain Economy future. Believe it.
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