13th Mar 2019
Evens Blockchain Technology
The existing financial system is based on trust. The meaning of trust base means that the bank guarantees the money used in transactions between A and B, and people make transactions based on trust in the bank and trust in the government. However, as trust in banks, governments, and above all, dollars began to crack, people began to look for other alternatives. Bitcoin was then a virtual currency that appeared like Haesung. What makes Bitcoin different from the traditional monetary system is that it is designed to be limited in quantity like gold, even though it is digital currency. The fundamental technology that this bitcoin developed is block chain.
Blockchain and cryptography
There are many misunderstandings about block chain and Cryptocurrency. Even though block chain without encryption is impossible, the Evens Project, built by the Vaisen Development Team, has developed an encryption-free payment solution. In fact, block chain-free encryption is not possible, but blockchain-free is possible.
Blockchain is a connected database system that is difficult to hack. This fundamental technology can be expanded to a variety of industries, but it doesn’t solve everything. But in the industry below, it’s a technology that can cope with the traditional methods. It also creates more possibilities when it is linked to Cryptocurrency.
A range of businesses using blockchain
When we send money from Country A to Country B, we send money through America. This is because the key currency in the world is the dollar. This creates a lot of unwanted costs. But blockchain-based encryption doesn’t have to be based on U.S. dollars. That’s because we don’t need a trust-based system. Encryption is a proof base because it is based on blockchain. Those who have experienced cryptocurrency, blockchain-based services, will switch to this process that no longer requires intermediaries, and this trend will mark the rise of cryptocurrency with the end of the dollar era. The first area where blockchain and cryptocurrency exchange will be changed is currency.
If data is managed by blockchain even before all luxury goods are shipped, and blockchain is managed by all distribution processes, the products handled by secondhand luxury shops will become more reliable. Delivering blockchain-based invoices for trade transactions makes transactions easier and makes transactions fast and easy for anyone in the world.
Each country’s assets can be safely stored and operated in encrypted currency. You can use your private key to access Cryptocurrency to exchange assets without requiring complex documents and procedures, especially in gold-rich countries such as the Nicaragua, where gold management can be managed and operated blockchain.
Various crowdfunding programs can be operated based on encryption money. Developing crowdfunding across borders in a democratic way makes it easy for anyone in the world to participate in projects and enjoy the success of projects.
By building an e-commerce with blockchain, payments can be made without the need for traditional face gateways. You don’t need complex public certification, you don’t need a procedure that requires self-certification. And you can buy and sell things to people all over the world.
The problem of complex public authentication can be solved all at once. Payment process such as Zero Pay in Seoul can be paid at once, but it takes time to certify. We can solve these things all at once.
Traditional POS systems cost complex machines and a lot of fees, but blockchain-based POS systems are paid with just a simple app and cost less than traditional businesses.
The first changes to the skin are thought to be the financial sector, especially the currency exchange. But the infinite possibilities of blockchain are beyond imagination. I think it is important to know the basic principles. Let me explain this briefly. The basic principle of all innovation is that someone replaces the existing position. An existing position cannot be aligned with the innovation offered by the new player. The core information that only one knows is not something special with the advent of the Internet. Similarly, the core of the fourth industrial age is not information, but the ability to digitize value.
Capitalism is a debt-based society. The bank generates a lot of money that doesn’t exist under the payment guarantee (economic expansion) that the government recognizes. And the government issues bonds. The bonds are bought by each country. At the heart of it is the dollar. The dollar is also miscalculated if you think it’s being issued by the U.S. government. It’s being issued by the Federal Reserve and it’s entering the private sector that doesn’t know much about its interest income. The problem with capitalism is that if there’s an expansion, there’s a contraction, and when we’re in recession, we’re going to have a lot more companies and countries go bankrupt. So, U.S. financial capital buys them all at a low price, like woolly cutters, when the time comes. In China, where the fight between China and the U.S. is not transparent, I think there might be a strategy to make the U.S. a transparent financial state like Korea. At the heart of it is the dollar and the U.S. bond.
back to the subject This financial system is technically at the top of the scale of issuing, operating, and benefiting from the dollar system, is actually anybody’s knowledge. It’s really ironic. But it’s true that the whole world is being driven by this financial system.
Now you can understand the whole thing if you understand that a lot of encryption money is a lot of challenges to better dollars, to build a financial system. The Fed’s monetary policy is the same as the crypto-money designer creating governance. The FRB’s call rate is set by the crypto-money designer, and the supply of dollars to the bank is similar to supplying coins to the apps. But the only difference is that if the FRB’s internal network is its own league, encryption can be viewed and reviewed by everyone.
If you understand this, you’ll understand why cryptography is just not something the government can’t like. And as a technical tool for economic democracy, there will be no alternative to blockchain and cryptography. There’s no question that this is the trend of the times.