Blockchain Wars Begins!
Ask every banker or financier who says bitcoine “ponzi” or “no money” “if there is no bitcoin, ask” what is “paralara” where banks use the required reserve ratios to drive the market?
Although the monetary value of banks in the world today varies according to the countries, there may be some who do not know that 21% is actually cash. The reason for this is the fact that the banks, not the states, are supplying money, printing money by expressions among the people. You probably do not have anything like that. Let’s explain it to you.
Banks actually act within the framework of certain rules when lending. The basic rule here is “no one will draw all cash money at the same time”. What happens though? Like Greece, they get daily limit, it ends. This is the ratio of the required reserve ratio to the legal regulation of the country in our country. This value is determined by the Central Bank by 10.5% although it depends on the maturity for Turkey.
What is the required reserve ratios? Basically, the money transfer duty that the states transferred to the bank came to control. This rate varies between 0% and 20% (see Central Bank News). Of course, banks usually move above these limits as risk assessment institutions consider this to be a consideration when considering banks’ notes. For this reason, according to the World Bank data, the cash reserve ratio of the banks in terms of all the assets of the banks was announced as 21% in 2016. (See “World Bank, Bank liquid reserves to bank assets ratio.” So they actually pay $ 20 for the banks, that is, basically a well-organized, authoritarian-controlled action, but at the end of the day, they “print money” with the popular language.
But when the subject is Bitcoin, the color of the job changes suddenly. When the banks supply money to the market (with pardon! 20%), they become “fraud” in the case of a commodity that can be owned, produced, stored, or excluded from the existing system by people like Bitcoin. A phrase that will not be entertaining and without reason.
Not that the manager of every bank tells you this. For example, we do not hear this or a similar statement from UBS Group AG (UBSG.S), Deutsche Bank AG (DBKGn.DE), Barclays Plc (BARC.L), Bank of America Corp. and ING management. But we hear from JP Morgan. Although it sounds like an interesting situation, we can not escape the fact that it is a Battle of Blockchain.
The R3 Consortium was the big news when it set out a few years ago. Giant banks and tech giants like Intel have come together and invested in the development of a blockchain-based system. The amount invested was $ 107 million. Morgan Stanley, Goldman Sachs and Santander announced that they would come out of membership in the course of the past few years. JP Morgan announced that he would develop his own blockchain technology
On the one hand, JP Morgan says Bitcoin is fraud but uses Bitchin’s Blockchain technology. On the other side, there are no positive or negative statements, but the banks invest in Blockchain technology.
Obviously this may be a sign that the R3 Consortium may lose more members in the coming days. This situation has been experienced many times in similar history. First, a working group is formed. A group member is separated from this group when developing a tool, an application, or a service for this group member. Afterwards some members are separated and a new union is formed after a while. Then the war begins over two and perhaps more unions that offer the same tools, practices, or services.
While waiting for innovations in the R3ch Consortium’s Blockchain technology, we may perhaps be reporting on a new consortium and maybe even better technology. Because nobody can give up the “blockchain” technology. Even if you leave the group, BlockChain continues to research the technology, builds teams, etc. I mean, “Blockchain Wars” is just beginning, it’s time to say “May The Confirmation Be With You”