The traditional financial order vs new financial order
The world bank statistic revealed that the circulating financial capital in 1999 was 63 times the value of goods and services produced by the entire planet, and today the international financial market has doubled in size.
The truth is, financial capital doesn’t generate value
So, it’s been crucial to them to reduce the loss and risks leading to bankruptcy to maximize profit, by any means
And the loss has fallen upon someone.
The total debt accumulated by 122 countries in the southern hemisphere reached up to 23 trillion USD. The 50 poorest countries in the world spend all their foreign currency paying off their principal and interest.
It is not only the Western financial institutions have a strict stance towards the current situation but also the IMF, WBG and the EIB
While some amass a fortune, 2.2 billion people of the earth population have a daily wage of 1.25 USD
History has taught us that innovative technology has the potential to create a whole new system of order.
But one thing is for sure, the prior condition in utilizing this technology is strategy and policy.
Back in 2008, the bitcoin appeared and after, the continuous presence of other cryptocurrencies led the whole world into a new turning point.
Some carry negative views towards the occurrence yet many experts claim the entire financial order will be turned upside down to be born into a whole new one
It is true that the reduction of costs and reliability are quite decisive in the metamorphosis of the financial order yet the core value of this change derives from the 2008 discovered bitcoin paper: It is a financial order that aims at fairly distributing the power of financial capitals.
The planet is transitioning from a supplier based markets into more customer oriented ones, and inevitably the smart population is becoming more acquainted to the block chain based financial institutions.
The power of the block chain based financial industry has shifted from the hands of a few financial groups to the large population of ordinary people through the peer to peer transactions
It is now that we can say, wealth is being re-distributed.
However, most of the cryptocurrencies that we know of today have been used for the sole purpose of raising funds.
A tool that was meant to transform the greed-filled financial systems, was being used for greed-filled purposes.
Whole new block chain technology-based financial system
The block chain based financial system in the near future will be centered around morality(ethics) and value.
The technological aspects are meant to be developed and improved yet the ethics and value are the final destinations
The products of the abusive financial capitals, market-centered systems, and violation of social ethics are ultimately famine and poverty, and these are the two fundamental issues that must be prioritized by the new financial system,
The new financial system must be able to resolve the famine and poverty 2.2 billion on earth are suffering from.
What GBFC intends to achieve with you the NGOs, is to apply a technology that can effectively, and automatically distribute necessary capital for survival through the block chain based financial system, MobiDollar and eventually settle throughout 510 different large cities.