Will crypto-based e-commerce destroy the banking industry dinosaur-style?

Banking as we know it, has been around since the first currencies were minted – perhaps even before that, in some form. Currency, especially coins, arose from taxation. In the early days of ancient empires, an annual tax of one pig may have been reasonable, but as empires expanded, this type of payment became less desirable.

However, since the Covid situation, not only have we appeared to have moved to a “cashless” society (as who wants to handle potentially “dirty money” in a shop), with “contactless” credit card transaction levels now increased to £45 , and now less accepted transactions, such as the daily newspaper or a bottle of milk, are paid by card.

Did you know that there are already more than 5000 cryptocurrencies in use, and of these, Bitcoin is high on that list? Bitcoin in particular has had a very volatile trading history since it was first created in 2009. This digital cryptocurrency has seen a lot of action in its relatively short life. Bitcoins were initially traded for next to nothing. The first real increase in price occurred in July 2010 when the valuation of Bitcoin jumped from around $0.0008 to $10,000 or more, for a single coin. Since then, this currency has seen some major ups and downs. However, with the introduction of so-called “stable” coins – those backed by the US dollar or even gold – cryptocurrency volatility can now be brought under control.

But before we explore this new form of crypto-based e-commerce as a method of controlling and using our assets, including our “FIAT” currencies, let’s first look at how banks themselves have changed over the last 50 years or so.

Who remembers the good old checkbook? Before bank debit cards came along in 1987, checks were the main way to transfer property with others in commercial transactions. Then with bank debit cards, along with ATMs, it became much faster to access one’s own FIAT assets and for on-line commercial transactions.

A problem that has always existed with banks is that most of us need at least 2 personal bank accounts (a checking account and a savings account), and one for each business we own. Also, trying to move money from your bank account “in a hurry”, say to an overseas destination, was something like SWIFT!

Another problem was the cost. Not only did we have to pay a regular service fee on each bank account, but we also had to pay a hefty fee on each transaction, and of course, on very rare occasions, we wouldn’t get any worthwhile interest on the money in our checking account. Account.

On top of all that, Over night By trading, every night, using expert financial traders (or, more recently, artificial intelligence (AI) trading systems), all OUR assets would be traded, and with economies of scale, banks became the main earner on our property – but not us! See the potential business that “OVERNIGHT Trading” could make.

So to summarize, not only do banks charge a hefty fee to store and move our assets, using smart trading techniques, they also make a hefty profit from trading our money in the night circuit, for which we see no benefit.

Another thing is – do you trust your bank with all your assets?

What about what the Bank of Scotland, which was the National Bank of Scotland and now owes Lloyds Banking Group, recently flagged in a September press release which stated “The Lloyds Bank Asset Fraud – The Most Serious Financial Scandal of Modern Times.”

Why don’t you google that website and then make up your own mind?

So let’s now look at how a crypto based e-commerce system should work and how the advantages that banks have enjoyed with OUR money can become a major profit center for asset holders – USA!

day 10th October 2020 sees the launch of a major new crypto-based e-commerce company – FREEBAY.

In short, FreeBay, based in Switzerland, is a company that includes its own Blockchain technology, with its own SAFE Crypto Coin (based on V999 technology), and allows its members to transfer their FIAT assets to Gold Bullion, removing the need to involve any BANK.

V999: digital gold powered by blockchain; digital token, backed by physical gold V999 Gold (V999) is a digital asset. Each token is backed by one tenth of a fine gram of gold bullion, stored in vaults. If you own V999, you own the underlying physical gold that is being held. On top of that, FreeBay members can purchase packages that include powerful intelligence-based automated trading robots.

So now not only can you achieve complete independence from a standard BANK, but you can also trade, like banks, your digital gold assets, in the form of V999 crypto tokens, on OVERNIGHT systems, only now you, the property owner, get the rewards, not the banks.

But there is another great advantage in trading V999 tokens. As you would be Generic the owner of the token, so like banks, every time a V999 token is traded (i.e. sold), say, to buy Bitcoin or any other cryptocurrency, a transaction fee is charged. Each time a transaction is made, the generic V999 token holder receives a small percentage of that fee.

Note that when a trade happens and the V999 token is sold, in exchange for say Bitcoin or any other crypto coin, a small percentage of that transaction fee is paid GENERIC OWNER of that token (ie YOU). Since Freebay’s goal is to make V999 Token one of the most sought-after secure crypto coins, even after your Token is sold to another merchant, because you are still Generic owner of V999 tokenswhenever any other trader trades that Token, You are the – Generic owner of that Token that you get a commission for trading.

This can not only create a large Passive income to you, for life, but possibly to your descendants – and nowhere is a conventional bank involved.

So the more V999 tokens you buy and put into circulation, the bigger and better your residual income – not only for your life, but probably for your dependents – could become a reality.

Are you interested enough to learn more? Then click here.