Is the financial revolution already here and we're waiting for nothing?
Revolutions, ah they're a funny thing and the way their often told is quite misleading. Often they involve an entire nation in uproar that overthrows the government or alters its current path and delivers people to their version of freedom.
In just about all cases they're linked to the economy and wealthy distribution. The most recognised or spoken about revolution for where I am is probably the French Revolution. It's effectively when common folk over threw the monarchy and well, got a bigger slice of the pie.
There's also magnacarta the first contract between commoners and wealthy aristocratic leaders or lords for basic human rights.
Makes you think though, these revolutions seem like the main ones, there are a few others too but we need to remember that humans have been around for 65million years, there's probably been just as many revolutions also. The way they're told is often misleading too.
Most people TL:DR so decades of war, rule, famon, poverty, dispossession are often erased from the stories and what you get is a group of people one day waking up and all simultaneously picking up a pitch fork and walking out doors. But that could not be further than the truth.
Just have a look at the industrial revolution, sprung up out of no where and took hold across the globe at the same time. Nothing could be further than the truth. People had been inventing things for centuries and trying to get things working.
Was it the steam engine that propelled human kind to another level and ultimately led to the combustion engine? None of these were new inventions.
The Greeks in the first century built steam engines, they were known as Aeolipile and according to the sourced article the Romans attempted to implement it in their fleets to make the move faster.
Leonardo De Vinci another famous inventor dreamed up many modern day inventions before they were built. So the industrial revolution was way underway before the period it emerged. The difference was that a war broke out followed by the Spanish Flu and a wall Street crash. The implementation of capitalism was emerging and this also brought the rise of the private citizen.
This means that no longer did royal families control the wealth and direction of cities and society, the people took over and immediately started heading to the past to bring things to the future. Governments whom consisted of elected officials now led the people and what appeared to be one day was actually hundreds of years of science black outs. Also referred to as the Dark Ages which prioritised religion and science was seen as black magic. The Dark Ages account for 800 years, imagine what planet we'd be living on right now if the Dark Ages never occured.
Much like the past with dormant inventions, researchers studying in hiding away from the watchful eye of the church so to were tech companies building and developing. Except the church it was the government and tax departments.
Fintech has been around since before the internet was created, ways to ensure financial security and transportation. In current terms instant transfers and payments have been around for a while but banks didn't want to implement them. With the emergence of cryptocurrancy and alternative payment methods they've had to to ensure their survival. Much like the Royal Families of the past (the ones that survived) fought off revolutions by adopting them.
People hold the ultimate power at the end of the day and Royal families are not royal without their public. Governments can not govern without those they seek to govern. Banks can not provide financial services to those who do not need their financial services.
Implementing harsh tax penalties and laws on cryptocurrancy maybe a short interim fix but in the long run as long as someone can buy and sell instantly it will create mass adoption and then fining and jailing everyone isn't a good way to run a country.
Obviously tax evasion is by far one of the worst crimes one could commit as many have come to learn with severe penalties.
Financial Revolution is already underway
So while we wait or believe we are waiting for the financial revolution the wait is over because it's already here.
PayPal now enables people to purchase with cryptocurrancy, Coinbase has an incoming cryptocurrancy credit card that earns you bitcoin, a number of banks are enabling bitcoin rewards and savings accounts and everytime you open the news there are new developments.
This Article goes into depth of some of the current mainstream providers already on the market and some that have waitlists and are about to launch.
Governments are already reacting by implementing policy reform and trying to stay on side with the general public or risk being out of touch with their communities.
Just like revolutions of the past which too focused on finance our current one is focusing on the inequality of wealth distribution. The capitalist ladder that allowed people to work hard and chase their nations home owner dream and survive in a world has shortened and not many can make the climb to financial freedom anymore.
So my fellow lions, I put to you that the financial revolution isn't coming, it's already here.
Posted Using LeoFinance Beta