BACKDOC: JUST IN TIME
WHEN I SHARED WITH YOU MONTHS AGO THAT IRAQ WOULD BE DIGITAL WITH THEIR CURRENCY YOU ARE NOW STARTING TO GET WHAT I MEANT.
IT'S A LOT TO GET YOUR BRAIN WRAPPED AROUND FOR SURE. THIS IS LIKE GOING FROM THE ANALOG FLIP PHONE TECHNOLOGY TO THE APPLE IPHONE "SMARTPHONE"! HEE HEE
MY CRAZY LITTLE SONG, "LET'S GET DIGITAL, DIGITAL, I WANNA GET DIGITAL", GETS US FOCUSED ON THE JUST THE BEGINNING OF OUR NEW REALITY.
SEPTEMBER 2ND WILL LAUNCH THAT NEW DIGITAL REALITY. THE HARD PART FOR ALL OF US IS TRYING TO UNDERSTAND HOW THAT IMPACTS US FINANCIALLY AND PRACTICALLY IN EVERYDAY LIFE!
CAN YOU SEE HOW THE SMART PHONE HAS CHANGED YOUR LIFE? RIGHT!
THERE IS HUGE BUSINESS JUST IN COMPANIES THAT MAKE APPS FOR THESE PHONES!
INNOVATIVE PEOPLE ARE FIGURING OUT HOW TO USE THAT NEW TECHNOLOGY IN A WAY THAT ADDS VALUE TO PEOPLES LIVES! THE FOLKS THAT CAN DO THAT BECOME WEALTHY IN THEIR OWN RIGHT.
CLEARLY THE MOVE NOW IS FOR ASSET-BACKED CURRENCIES TO RUN ON A DIGITAL PLATFORM LIKE THE IEX WHICH I BROUGHT TO YOUR ATTENTION.
THESE NEW ASSET-BACKED CURRENCIES WILL HAVE THE SUPPORT OF ALL CENTRAL BANKS AND PUTS THEM IN DIRECT COMPETITION TO OTHER NON-BACKED CURRENCIES LIKE BIT COIN.
BIT COIN, NOT HAVING SERIOUS TECHNICAL SUPPORT AND FINANCIAL BACKING, THESE TYPE OF CURRENCIES WILL FALL PREY TO THEFT AND ATTACK AS WE HAVE SEEN WITH THE 72 BILLION THEFT OF BITCOIN RECENTLY AND YET ANOTHER ATTACK ON IT.
THESE NON BANK PLATFORMS WILL HAVE LITTLE CHANCE FOR SURVIVAL AS THEY TRY TO COMPETE WITH OZ!
THEIR LIFE EXPECTANCY MAY BE SHORT ONCE THE DIGITAL REALITY IS LAUNCHED! I SAY THIS NOT TO OFFEND ANYONE WHO HAS INVESTED IN THESE. IT IS JUST THE OUTCOME OF MY STUDY.
"THIS UTILITY SETTLEMENT COIN" OR USC AS ITS CALLED, WILL BE SET UP AS A UNIFIED PAYMENT TOOL THAT WILL RUN AT PARITY WITH YOUR CURRENCY. IT CAN BE IN A SENSE A UNIVERSAL CURRENCY SET TO PARITY WITH ANY COUNTRY'S CURRENCY! REMEMBER IT WILL HAVE THE SUPPORT OF ALL CENTRAL BANKS!
WHEN I WROTE "THINK LIKE A BANK" I MENTIONED THAT WE HAVE TO LET OZ MAKE HIS MOVE IN THE GAME AND WE DECIDE WHEN TO HOLD EM AND WHEN TO FOLD EM. HEE HEE
WELL, SEPT. 2ND WILL BE A DEFINING MOMENT IN THE GAME SINCE THE IEX PLATFORM LAUNCHES.
IF WE SEE NO EVIDENCE OF A STARTING POINT THEN WE WAIT FOR IT TO SHOW UP SOON AFTER. WITH IRAQ AND THE U.S. NOW ON THE SAME FISCAL YEAR OF OCTOBER 1ST WE HAVE VERY HIGH HOPES.
JOSH MCDOWELL WROTE A BOOK CALLED, "EVIDENCE DEMANDS A VERDICT", WELL THE EVIDENCE IS MOUNTING AT WARP SPEED AND OUR DESTINATION IS AT HAND.
MY ADVICE TO THOSE WHO ARE SERIOUS IS TO LEAVE EMOTION OUT OF THIS! WE STUDY FACTS THAT TURN INTO ACTION! REMEMBER? RIGHT! "ACTIONS MEAN THINGS" !
TALK ON THE BUDGET BEING APPROVED, AND THE AMNESTY LAW SLATED TO BE PASSED COULD EASILY HAPPEN IF OZ IS READY!
YOUR EMOTIONAL FRUSTRATION HAS BEEN THAT YOU HAVE ONLY BEEN LOOKING AT IRAQ RATHER THAN THE GLOBAL ARENA IN THIS REFORM. AS I'VE SAID MANY TIMES, "IT'S ALL ABOUT IRAQ THAT'S WHY IT'S NOT ABOUT IRAQ" !
THIS HAS BEEN ABOUT BAILING OUT COUNTRIES AND FIXING BANKS THAT HAVE TOO MUCH DEBT SO GET OVER YOUR EMOTION, ITS NOT ABOUT US.
VERY SOON OZ WILL COMPLETE HIS WORK ON THESE COUNTRIES AND BANKS AND ACTIONS WILL MEAN THINGS!
IF YOU'RE READY YOU WILL BE BLESSED BECAUSE YOU WERE A CHOSEN ONE TO KNOW ABOUT OZ'S WORK, AND YOU PUT YOURSELF IN THE RIGHT PLACE FOR THE RIGHT TIME!
VERY SOON IT WILL BE YOUR TURN TO FOLD EM, AND IT WILL BE ABOUT BACK TO YOUR FUTURE.
WHAT'S YOUR PLAN? ARE YOU READY? ARE YOU WAITING FOR THIS TO HAPPEN BEFORE YOU HAVE A PLAN? IF SO, SHAME ON YOU! "TO MUCH IS GIVEN MUCH IS REQUIRED".
THE SOONER WE GET OVER OURSELVES THE SOONER WE CAN ENGAGE WITH GODS PLAN FOR OUR LIVES!
WE SERVE A GOD WHO IS, "JUST IN TIME" ! 8@8, DOC IMO
ThunderHawk: We discovered yesterday the mechanism of Singapore's blockchain and it's parameters
Today we witness it continuation with forward momentum...
The IEX and all digital platforms MUST be operational for the planned transactions ahead...
Family IMO this is the core that defines the process which make the MR a digital reality for the collective....
UBS leads team of banks working on blockchain settlement system
Swiss bank UBS (UBSG.S) is leading a team of four of the world's biggest banks developing a system to enable financial markets to make payments and settle transactions quickly using blockchain technology.
UBS has developed a "Utility Settlement Coin" (USC), which is a digital cash equivalent of each of the major currencies backed by central banks, such as the dollar or euro, rather than a decentralized new digital currency such as bitcoin.
The USC would be convertible at parity with a bank deposit in the corresponding currency, making it fully backed by cash assets at a central bank. Spending a USC would be the same as spending the real currency it is paired with, UBS said.
Blockchain projects such as this have the potential to shake up the settlement system used by banks, under which transactions can take several days to finalize and which costs the financial industry $65-$80 billion a year, according to an Oliver Wyman report last year.
"Digital cash is a core component of a future financial market fabric based on blockchain technologies," UBS Investment Bank's head of fintech innovation Hyder Jaffrey said.
The Swiss bank first launched the concept in September 2015 with London-based blockchain company Clearmatics, and has been joined on the project by BNY Mellon (BK.N), Deutsche Bank (DBKGn.DE), Santander (SAN.MC) and brokerage ICAP (IAP.L).
Blockchain works as a tamper-proof shared ledger that can automatically process and settle transactions using computer algorithms, with no need for third-party verification.
Because it does not require manual processing, nor authentication through intermediaries, the technology can make payments faster, more reliable and easier to audit.
Similar systems are being developed by others, such as SETL, a London-based start-up run by City grandees, while some major banks are working on their own projects. But this is the first time big banks have teamed up to work on a digital cash settlement system.
Financial regulators are still trying to assess the implications of blockchain - also called "distributed ledger technology" - and whether it could meet technical, governance, legal and regulatory requirements.
The World Economic Forum said in a report this month that more than 90 central banks are discussing the use of blockchain, and estimated that 80 percent of the world's commercial banks would have initiated projects using the technology by 2017.
"The practical use and implementation possibilities of central bank digital currency is rightly becoming a hot topic in the financial service industry," Deutsche Bank Global Transaction Banking Chief Digital Officer Edward Budd said.
"It raises questions, and possibilities, over a fundamental market structure principle: who can have access to central bank money and how," he said.