About Me

Daniel Berger

Fintech is a revolution, NO evolution here!



"The revolution is not an apple that falls when it is ripe. You have to make it fall." Che Guevara



Revolution: an overthrow or repudiation and the thorough replacement of an established government or political system by the people governed.

Evolutiona process of gradual, peaceful, progressive change or development, akin social or economic structure or institutions.


A Brief on the history of Banking

While very hard to established an exact date on when banking began we know that some forms of banking, or monetary referential have been with us for several thousands of years. 

"The history begins with the first prototype banks of merchants of the ancient world, which made grain loans to farmers and traders who carried goods between cities. This began around 2000 BC in Assyria and Babylonia. Later, in ancient Greece and during the Roman Empire, lenders based in temples made loans and added two important innovations: they accepted deposits and changed money. Archaeology from this period in ancient China and India also shows evidence of money lending activity." [1] wikipedia

And while history changed, violently, change from the financial stand point  where smooth based on the typical valued referential, such as precious metals and precious stones, with different carvings of leaders and conquerors, but essentially with the same weight (Shekel = weighted, ancient hebrew coin), essentially the first revolution comes with the venetian money lenders of the 1300's which lent money to goverment's on highly risked en devours. however it is not until 1400-1500 that the first revolution on global finance begins with the flemish and dutch exchanges. [2] stocks. The revolution comes in the concept of value, investing in the future and assigning the correspondent and variable worth of that en devour, and pretty much this concept has EVOLVED, thru out time until the modern days and technological advances.

Central Banks: these entities can be traced since 1694 to the Bank of England which was a formed entity buying the debt of the monarchy, model which was adopted by France and other European countries of the era, the adoption of the gold standard was a natural conception until 1914, when the US begins driving away from it to a more commodity based system of valuable "IN GOD WE TRUST". And even today the Central bank, Fed or whatever adoptive name may have on a local scale is a major regulatory and intermediary body of the economic index.


So why is Fintech a revolution?

Because once again we are about to break an established economic system, on a violent way, without a smooth transition...

We (the masses) are forcing banks and goverments to change the whole monetary policy and adopt a new system commonly called the Block Chain, a system which first implementation has recorded drug tranfficking and illegal gambling, a system anonymous and yet transparent, a decentralized network, where the central bank has no power, where goverment does not dictate, where the rule of the commons has the ultimate saying, a system where we all become unbanked, because banks are no more; Let's be clear in one conception Fintech and crypto currency are not looking for an evolution of banking, are looking at the end of banking as we know it, going blindly and rapidly into a new era. and this era has no borders it lives in no place and at all places at the same time.

And so you may ask, but banks and goverments are investing into Fintech, so where is the revolution?

The revolution is the concept, not the players; Caesar belong to one of the most prominent Roman families, Washington was plutocrat of the Brittish empire. The fact that powerful entities are contributing to the abrupt change it does not mean the change is not forced, if anything evolutionary can be imprinted in the new era of finance is "survival of the fittest". 


A nostradamus moment

Three major super powers are in some way or another against Fintech, but playing, up to some level an acceptance game (we are speaking of The U.S, Russia and China), for the US and china we may say that there is even "heavy" investing on the field, but remember, revolutions not necessary change the hold of power from its roots, just a change of system and few chopped heads in the process (banks, central banks, etc). And yet within two years the virtual wealth and the economy association to virtualized wealth, futures and contracts; will be under the denomination of "too big to fall". A new era of value will be created, now at the verge of the of 2016 i see only the abstract of it.






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