trillion - Next Generation Cryptocurrency

[Richie R]

Chris Ziomkowski - Chief Science Officer - Trillion

-- New post on trillion Facebook https://www.facebook.com/trillionICO/

It doesn't take much to hate banks. But one day we all reach a point where we need them for something, so we swallow our emotion, bend over, and prepare for an intrusive and unwarranted inspection of our lives that makes us want to shower when the process is finally over. This is just the way it is today. And as banks get bigger, and more divorced from the communities they serve, the process gets worse. No longer just an evil precondition for a modern economy, modern banking has grown into a too big to fail monstrosity that is worse than any tumor or parasite. Indeed, banks have actually become the masters we all serve, as we labor under their absolute tyranny hoping for the few scraps of capital they deem too inconsequential and carelessly throw our way.

But that is all about to change. The one thing that makes big banks better, even for those of us with modest needs, is their perceived strength and immunity to failure. After that perception was shaken in 2008, the new too big to fail banks have emerged with even more clout, as many customers are now convinced that those remaining big banks will enjoy further bailouts by the public in the event of any serious economic malady. This trust gives them an unfair advantage in the marketplace. But the issues of trust are exactly what new open ledger technologies like blockchain are designed to moderate. If an offshore bank has better credibility, a stronger balance sheet, sufficient legal protections and access to all the modern financial infrastructure, why continue funding a $100 million bonus for an executive of a bank you hate? The promise of blockchain is finally at hand.

This is Trillion in a nutshell. Banks used to be small, and the bankers themselves lived in the communities they served. They helped with local solutions to local problems. Bankers may have been disliked by some, but they were part of the community and it was possible to moderate any feelings toward them as they brought benefits as well. Indeed, go back several hundred years when banking was just starting as an institution, often dependent on the nobles in a region, and in some cases it is possible to identify a fierce loyalty between the nobles who serviced a population and the peasants who depended on them and even defended them. This was social banking. This was a community where banking existed for people, rather than people existing for banking.

Trillion will restore this environment, removing most of the barriers that currently place smaller banks at a disadvantage, reduce the extreme barriers to entry that are imposed by governments to ensure banks have a significant stake at risk, and present a cooperative structure where it is possible to mix other values into the financial paradigm other than profit. Yes, this is a big job. But the team behind Trillion is well placed to take on the challenge. Ever wondered why legalized internet gambling began in the country of Antigua? I'll give you a hint. It was because of the members of the Trillion team who are considered the founders of the internet gambling revolution, and their presentation to government officials was so powerful that they never had to go beyond the A's on their country tour.
If this is a movement you may be interested in joining, please send me a message and I'll send you more information. In any case, I am so very excited about the opportunities this project presents. I never imagined when I was younger and applying for a mortgage that I might one day own a bank rather than just being a customer, but you can bet that I will be one of the first to establish my own bank branch on the Trillion Tree.