Im sure, and yes, it has been taking a long time as I’ve been in this for 5 years now but that doesn’t negate whats coming. When the new digital financial system called ISO 20022 goes live only compliant digital assets/cryptos will be apart of it. I only see utility tokens surviving the purge and those that do will preform extremely well. Until the new financial system goes live were not gonna see utility tokens like $XRP or $XLM hit there full potential but once theres regulatory clarity were gonna head north fast. Now if Ripple beats the SEC then I believe were gonna break out like nobody’s business. I remember one firm predicting anywhere between $15-$30. Now those who’ve been following the developments of the new financial system know that the Bank for International Settlements (BIS) is owned by the Central Banks which fosters ALL international cross border transactions. Its the tentacles of the Central Bank. The Central Bank Digital Currencies (CBDC) have been in the testing stage for years now, which will be used in ISO 20022. Blockchain with the use of digital assets has made it possible for high quality real time payments to become reality. November of this year is the KICK OFF and will mark the start of the migration of ALL cross border payments into the new system (ISO 20022) and will last until November 2025. Thats three years. TRILLIONS is processed daily through cross border payments so it makes sense for it to take three years to migrate over all transactions. The estimate is by 2025, the new system (ISO 20022) will support approx 90% of transactions globally. Once completed is when we’ll see the implementation of the new system. The old legacy banking system will be replaced as we’re witnessing a controlled demolition of it. It doesn’t take much to see that the path we’re heading down is unsustainable. How they’ll do the switch though from old to new is anyones guess but they won’t be ready until everything is migrated over to the new system in 2025. IMO, those who aren’t positioned accordingly (cryptos & metals) won’t survive the collapse and many are going to up needing Universal Basic Income (UBI). The good that will come out of a new digital system is that theres almost 2 billion unbanked people in the world. The new system will connect every consumer directly to the Central Banks through their smartphones and the whole world will be banked. I believe the move to start getting rid of cash will begin after the migration to the new system is completed and digital money like the digital Dollar or digital Yuan is ready for use. They’ll be no need for actual cash within this system anymore. Although this new system has a positive side to it the downside will be the level of control that the Central Bank will have over consumers and enterprise. When you have the ability to control commerce, buying and selling, you’ll have the ability to control people. In the end thats what this is all about…control.
Heres is Agustín Carstens one the heads from the Bank for International Settlements (BIS). Listen carefully to what he said in 2020:
“Our analysis for CBDCs (Central Bank Digital Currency) for the general use we tend to establish the equivalence with cash and there is a HUGE difference there. For example, in cash, we don’t know whose using a $100 bill today or whose using the 1000 Peso bill today. The KEY difference with the CBDC is that CENTRAL BANK will have ABSOLUTE CONTROL under the rules and regulations that will determine the use of that expression of a CBDC (from the consumer) and also will have the technology to ENFORCE IT. Those two issues are extremely important and that makes a huge difference to what cash is.”
AI
