Revealed – How banks, govs and FinTec let us become digital slaves

This is the masterplan of FinTec - The future for humans will be dark

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A LOOK BEHIND THE SCENES – THE BANKING WORLD IS STILL NOT DIGITAL

 

„The standardized retail banking business has suffered a lot of disruptive beatings in the past, but each time the banks have adapted to it and they have become stronger. Key moments included telephone banking in the ’80s and online banking in the‘ 90s, as well as the global financial crisis of 2008 and most importantly the FinTech Explosion “

 

and following

 

„… at the time, all of these developments had some market watchers foreseeing the demise of the banking system as we know it“

 

„However, while telephone and online banking have turned some customers from banks to new channels, the traditional banking business has remained unchanged. And they have not paid attention to the great technological developments of the last decades. “

 

„Retail banks still lend money and prefer to earn their money from the network interests they derive from taking ownership of their clientele and, above all, from customer data. FinTecs are now making significant UK retail cuts „As an example, store visits in the UK dropped from 476 million in 2011 to 278 million as online banking increased from 169 million to 1191 million.

„So it’s easy to ignore all the talk about disruption, but anyway we think it’s different this time“

 

A short introduction

 

With this introduction, the Deloitte report begins and sums up the reason why banks did not need to rethink until now.

Interestingly, the banks use the same rhetoric as the BitCoin enthusiasts when it comes to the death of BitCoin or the alleged bubble which is about to burst and BitCoin supposedly being a pyramid scheme.

 

It´s obvious that the new banking world is still a long way from BitCoin, when they say that FinTec is bad, although, as with telephone and online banking, it ultimately does not change the retail business itself.

 

This persistence in standing by old premises, logically provides a very different approach to expanding in the digital world, and you can see how far away the banking sector is from offering a functioning, cross-industry, monetary solution with everyone trying to do their own thing.

On the other hand, it is reassuring for me to see how FinTec, trying to revolutionize the banking sector, is falling on „deaf ears“, and yet again it is Deloitte who want to change everything, but not out of necessity of course and not to enrich their own pockets. Deloitte is aware that the uncertainty of the banks in dealing with new technologies sits deep, and they can take advantage by acting as the educators of FinTec, without themselves having a clue, and only a vague idea of new products.

 

The result is the eternal search of the R3 consortium for new business partners, under the leadership of Deloitte. Recently, Santander and Goldman Sachs departed from the first round. Today, Goldman Sachs is investing in BitCoin.

 

Deloitte maintains that banks have „fundamentally rethought their business model and need to be more customer centric.“ And not because of the necessity for BitCoin, but because „…the banks must be influential in the possibly up coming new regulations of the open banking concept“

 

In the course of this first introduction, it will be explained that open banking makes new ways possible, in offering new products and services that were previously unthinkable.

 

There is talk about diversity, but the solutions are monotonous

 

Interestingly, Deloitte continues, „… the possibilities are innumerable and the lay out of the scenarios they will then create“

And now it comes !!! Funnily enough, Deloitte himself seems to be running out of ideas and writes „… to understand what SME (small and medium enterprise loans) and customers really want, YouGov has been commissioned to take the lead in successfully exploring these two segments“

 

And further it says:

 

„… in an extreme case, some banks may go back to basics in order to take on the infrastructure tasks, while FinTecs, tech giants and price comparison sites (PCWs) have the actual customer relationships. As a result, they could become the leading brands in banking without ever personally managing client funds or lending. “

 

„… Banks that open themselves to the Open Banking System have a real chance to win the battle for the customer interface and keep the customer relationships“

 

Ultimately, looking at what the FinTec industry has achieved so far, it’s not innovation, it’s just wrapping and tweaking a few set screws, like Samsung and Apple, who have only survived over the past years by using existing elements, but not really innovating. Apple has recently realized this with the iPhone 10 (X), but that also means that the components will simply be improved over the next few years, and Samsung will also be hard at work as usual.

Banks are still a long way from becoming innovators and bringing about cross-system change. Even if FinTec would like them to.

So it was recently criticized that there are now Blockchain solutions for ID management (ie identity cards, etc.) but the companies are not seeing the blockchain as a storage medium, but only as a form of transmission. By storing the data on servers, the actual purpose is undermined.

However, this also proves that the hacks on ETH and almost all other alternative blockchains, outside the BitCoin Blockchain, are influencing the end customer who ultimately feels totally insecure and does not trust the new technology – rightly so.

Luckily this leads to BitCoin being able to assert itself as a secure and established medium. The BitCoin Blockchain, because of its real decentralization, is not vulnerable and therefore is a secure medium for storing important content, or certainly the proof of ownership.

It’s the question behind the ledger. A distributed ledger says nothing about whether the blockchain behind it, is also decentralized. And that’s not the case with any alternative offer. Therefore, blockchains, except the BitCoin Blockchain, are hackable.

That´s why, the sentence in this article  is true „… the future of Banings is far from safe!“

 

Recognition

Since the global financial crisis, UK banks have had very strong headwinds in the retail banking sector. As a result, central banks have raised interest rates on deposits and put pressure on banks‘ profits.

This has resulted in higher capital contributions, high commission costs and rising costs due to litigation, leaving European banks below cost compensation – since 2008

 

This summary puts it in a nutshell, instead of only letting the customers pay, it is now the banks themselves, who are suffering from their own model.

However, banks‘ problems are actually more diverse, if one assumes that the FinTec sector is settling in niches and the UK regulators are even helping them.

Nevertheless, according to the report, the regulators have also promoted competition in open banking, by allowing customers‘ bank data to be made available to third-party companies.

 

THE GLASS CITIZEN AT THE BANK IS REALITY

 

This statement is the best proof that BitCoin has a reason for being and will last forever.

The complete delivery of customer data to the FinTec and banking sector,  leads to the end of individualization.

 

There are two ways in which this is being done already.

 

– The EU market

Revised Payment Service Directive (P2D2) – revised payment instructions

(Basis to change payment transactions)

 

 

– Great Britain

 

With the help of the CMA (Competition and Market Authority),

which holds the mandate of the largest bank in the UK, to take over the Open Banking Standard

 

All this is intended to increase competition, as the interfaces do not necessarily have to be with the original banks, but can certainly be provided by the competition.

This makes it easier to bring about personal engagements between different candidates, as far as different accounts are concerned.

Expand customer satisfaction in today’s BitCoin era

„By outsourcing certain services to third party companies, there will be a much better customer experience because it´s more personalized“.

 

Such statements show that banks usually have no idea what added value actually means for the customer. It’s actually easy to explain and see. The banks only objecive is to get people into debt and / or bind them to services that guarantee them a monthly revenue, e.g. life insurance, an investment portfolio and the „optimization“

 

It is actually frightening today when you go to the bank counter because you need to change your details when you get married. „Only a financial adviser can do that, you will have to make an appointment“. But if you stay persistent and ask why the Account Manager at the counter can´t change such a simple thing for you immediately, the lady will do it and at the same time tell you how complex it is. Just keep in mind that it is just a matter of scanning a few pieces of paper and putting a tick on a designated computer mask.

 

When you get trapped in the office with the financial adviser, your freedom has gone. You’re married now and there must be a product that they can offer you, where you need advice.

You will also quickly realize that a change of this nature is not possible through online banking. A change in the BitCoin world makes sense because there are no requirements to talk to a bank adviser. There is nothing that you could not do online, and you will not get trapped by a financial adviser and third-party company. Just free yourself from the idea of taking out a loan.

Example a car purchase: Make a down payment in BitCoins and wait 1 year. I´ll bet that your car is now affordable? Without a loan !!! That’s the world you want to live in.

APIS the solution of the banking world in an Opening Banking System?According to the report, this is the perfect solution to mediate between the communication of banks, third parties and regulators and all the demands upon it.

For example, the report notes that there is high demand for mobile solutions, and that 58 percent would switch to a „mobile banking only world“ where they would be able to review banking offers with the App.

49 percent would trust a provider if it was directly linked to their own bank and 43 percent, if a reseller had this access.

Compared to the statements from the FinTec industry, the world out there is just waiting to be confronted with Blockchain, and the banks should finally decide to use FinTec, so as not to miss the connection. You can see how miserable the efforts towards BitCoin has been, which has succeeded without advertising in getting phenomenal growth and acceptance amongst the population.

In the marketing segment, this would mean that the customer would only have ONE interface to access everything.

If you look at the world of BitCoin in comparison, everything is there. BitCoin can always be adapted to any changing situation, implement new innovations, etc., but people are inventing new coins and AltCoins, because they all want to have a piece of the cake. So even here in the retail banking sector the banks won´t use only one interface. The third-party vendors will create their own Apis and eventually exclude the banks from holding lucrative direct customer business. This realization does not come from nowhere.

 

BitCoin shows in an impressive way where the journey is going, and when people actually understand BitCoin, never want to go back. That’s exactly the difference between the FinTec and the BitCoin-er. Due to the high potential of blockchain technology, FinTec sees a fundamentally profitable asset which they now want to sell at high prices.

They praise this system to the banks, because as you can see here, they are not ready to change anything, because they see no need to change anything.  As long as people do not know that BitCoin exists and the masses don´t get into it, everything is „good the way it is!“

 

FinTec therefore offers products that are ahead of the times and ready for the market. This means that apart from smaller test models, FinTec lives from the funds of the ICOs, which they create themselves and they do not implement any solutions, since the end customers are still light years away.

 

Against this background, the question then arises: „Can a bank blockchain and a coin gain widespread acceptance at all, and not just a few internal blockchains, as an efficient means of transferring structural measures.

 

 

The four key characteristics with which people should be enslaved in the digital world

 

Inadvertently, because of the idea of supporting the banks, the report reveals a whole new perspective on the future of ownership and ownership of the banks‘ business models. As I have already pointed out in earlier contributions to Satoshi School, the goal is to abolish property as such, or gaining property.

 

Four columns are needed.

1) Full Service Provider

2) Utility

3) Supplier

4) interface

 

In summary, the following scenario results:

 

The full-service provider (1) offers end customers the complete range of services offered by themselves and the banks. For this he uses the publication in his networks without a third party.

 

The services offered are now not offered as property, but only as a right of use, and this will then be opened to other players in this infrastructure. (2)

The support networks then offer these services as a further element and remove the publication by third parties. (3)

Contracts and customer data obtained in such a way are then supplied to their own marketplace, and then offered by API third-party vendors and resellers. This way, the bank gains control over all offers, as it has transformed them into its own product portfolio (4).

 

What we are seeing here, and that is something that worries me the most, is the fact that forfeiting property for a monthly usage fee will plunge many more people into financial ruine.

 

This circumstance gives BitCoin another authorization:

Securing property!

 

Interesting statement by Deloitte on „… the banks can not ignore that this is the future, if they do not want to become just a spectator of their own system, which others now serve“.

 

In other words, if the banks follow Deloitte, then the above thesis will not only send BitCoin to the moon, but without detour, to Mars. Because nothing has more value than property. Because only property gives added value, which can be asserted by sale and therefore serves to accumulate wealth.

And of course: „… only the cooperation of FinTec will bring the banks to this crucial point, so that they can experiment with the new conditions safely“

FinTec and the call for help

 

The FCA in London has a project (Project Innovate) on the market to help businesses navigate through the jungle of application forms, creating a more positive environment.

 

On the way to the whole innovation of banks changing into an open banking world, it will never lead to the desired results due to the different regulations in individual countries, since here compromise is necessary.

 

BitCoin doesn´t need to compromise. Because it is simply not earmarked and you can not stop it by borders.

Where the FinTec industry and governments are going to fail: THE IDEA OF THE MEGALOMANIC BIG BROTHER

 

The following graphic shows us exactly why FinTec is going to fail and why  there will be individual solutions, but never complete solutions. Not yet.

 

The interlocking and the resulting, unpredictable, interactions show only one thing: either the complex system is being developed from scratch, or its dying on its own complexity or must inevitably be destroyed by BitCoin, because of the totalitarian banking power.

 

If you look at this graph, the following gearing becomes clear, which you can see incredibly clearly, even when you do not speak the language.

 

 

Payments clearly crystalise the great importance of the „strategic role of data“ in which all other areas ultimately merge, following the dotted lines „.

 

In Insurance, it is the „Internet of Things“ that provides data. The Internet of Things. We are therefore classified (for insurance) by our behavior. That means, records of our habits through our electronic devices which now all have internet connection, are the basis for insurance contracts, and will also be used in payment offers. This data will then merged into (point 1) in a huge database

 

Deposits and lending (deposits and loans) is therefore based on P2P debt. Companies like ETH LEND are about to launch this, and it shows how far away the world is from the idea of building a society without debt. And all this data is also connected to the data acquisition system. This is the most important reason for the existence of BitCoin and should be reason enough to destroy this system.

 

Capital Raising Crowdfunding is seen here as one of the key ingredients for the FInTEc and banks; not as an expense, but as a revenue, which explains the death of ICO´s. They have no product behind them, but only finance the overall product. Deploying a comprehensive Big Brother system in all existing government and banking structures worldwide, would require more than just $ 45 million. We will therefore see more and more fake ICO collecting money, and the project does not come to light until the cycle is closed. The digital enslavement is beig financed here.

 

Investment Management (Investment Administrations). Here, the automation mechanisms are to come together through cloud computing and social trading, as well as standardized algorithms and open source IT.

Market Provisioning (sale of the data on the market / supply of the data) Through own marketing information platforms, and the supply of data by means of artificial intelligence, which then according to criteria specifications, creates these expenditures and therefore generates the customer individualized data for it´s business. This is how we imagine the processing and evaluation of the Big Data quantity in the future, which was won from other areas. These are then joined by techniques such as machine-readable news, which are included in the evaluation. This closes the circle, because these ultimately created „data histories and life processes about a certain person“ are added back to the large data base, in order to then be able to draw comparisons to other people faster and ultimately leveraged to control larger masses.

 

Conclusion of this evaluation

The comprehension of a person in his whole activities, of his habits, his preferences, his daily encounters and purchases, his social contacts, his interaction with other people and his resulting behavior, is captured in a huge amount of data in order to make him PREDICTABLE. The individual will no longer play a role in the digital age, mankind will be guided by the insights and can be kept in the systemic cycle with offers and new innovations, tailored directly to his preferences. Elections are no longer an expression of individualism, but a predictable instrument of power conservation.

 

THE CONTROL OF DATA IS THEREFORE THE ULTIMATE ELEMENT OF THE FUTURE,  AND THE INABILITY TO ACQUIRE PROPERTY. THE LOSS OF PROSPERITY ENSURES SIMILARITY, AND THE INABILITY TO CHANGE SOMETHING, AS THE POWER OF DATA CAN TOTALIZE A PERSON IN HIS FREE ACTIONS.

 

BITCOIN IS THE ONLY ALTERNATIVE TO GET OUT OF THIS CIRCUIT AND BUILD YOUR OWN SOCIETY, WITH YOUR OWN RULES THAT NO ONE CAN TAKE AWAY. THE MOST VALUABLE GIFT EVER, IS THE GIFT OF INDEPENDENCE THROUGH BITCOIN.

 

P2D2 – PISP – AISP ASPS – The Interfaces of the Banks for the Future TPPs – Third Party Providers – Third Party Providers

 

As long as an agreement between third parties and the customer exists, they can directly dispose of money in the customer’s account, and obtain the necessary data. This would go between several banks with an app.

The fact that all doors and gates are open to take advantage of customers, should probably be clear.

 

There is no point in calling on the so-called GDPR (Eu General Data Protection Regulatory). It contains so many backdoors, that in this context, to talk about transparency and who has what data, and understands, is a circus, because the EU has its own Interests in using this data.

 

In addition, the Competition and Markets Authority (U.K. Consumer Protection Bureau and Antitrust Authority) adopts the Open Banking Standard and mandates a commitment to the largest banks to disclose customer data and SME accounts.

 

On March 31, 2017, nine banks were invited to do so.

From this graph, it’s easy to see how the system works. While on the left, the data is still located at the bank without connection, the data is provided on the left between all sites. The customer will be transparent, because it is clear that the third-party and Banks only vaguely explain what is revealed.

It can also be seen, that a total control up to the point of stopping all account connections from several locations can be triggered. Shops etc, will get their approval through their loyalty cards, by updating their terms and conditions with explanations that no one ever reads.

 

 

 

 

„To change [the] nature of the customer journey itself, by facilitating the emergence of a new service provider, with different business models offering innovative solutions.“

 

They want to bind customers to a new user experience with a wide range of service providers, who in turn work with the Open Banking Standard that offer  various innovative solutions. “

BitCoin as such is an open banking system, which ensures the connection to the whole world via Smart Contracts and offers innovations via third party providers.

The difference however, is that BitCoin is not controlled and releases data only when you release it yourself. And not permanently, but only by me at any time, without having to ask anyone to cancel etc. I just do it myself from my computer.

 

To keep the control perfect, there is, since 2013 the so-called Current Account Switch Service (CASS), which has the goal of facilitating the switch from one contract at company A to another contract at company B easier.

 

Regardless of that, a change of account remains rather small (8%) while, for example, 45% change their car insurance.

Ultimately, this monitoring is again the attempted influence to control the changing behaviour and therefore buying behaviour of the customers.

 

This model should make it possible to create own price comparison portals assigned to the authority in order to „… make better credit offers, especially through SME, … opening up the data to third parties will boost business even more“

„What’s more, banks and third parties are able to offer their clients money management and budgeting tools.

 

WHAT WE ARE EXPERIENCING HERE IS CUSTOMER’S TOTALY GIVING UP THEIR AUTONOMY THROUGH DIGITAL CHANNELS TO BANKS AND FOREIGN COMPANIES, WHO INDEPENDENTLY CONTRAL THE MONEY OF THEIR CUSTOMERS.

The use of smartphones, which has now reached 85% of the population in the UK alone, gives cause for concern, it is said „Advances in technology and the evolution of the digital landscape, combined with end-to-end connectivity with the Internet, now gives regulators the ability to intervene directly, and has the potential to do so in a revolutionary way“

 

And here, too, we see that it is about the totalitarian control of people, where self-determination has no place

IT IS THEREFORE SO IMPORTANT THAT BITCOIN IS THE ONLY CURRENCY WHICH CAN NOT BE CONTROLLED- IT WAS INVENTED BY PEOPLE FOR PEOPLE. BITCOIN DOES NOT HAVE ANY OBJECTIVES IN CONTRAST TO ALL OTHER COIN OFFERS,  WHICH ARE ONLY FOR SELF ENRICHMENT AND CONTROL (THERE IS NO EXCEPTION!)

„NONE OF THE HOPES OF REGULATORS WILL EVER BE IMPLEMENTABLE IF CUSTOMERS DO NOT PURCHASE MASSIVE INTO THE SYSTEM“

„Customers have changed into a technology-savy company and are demanding soliciting bank products“

 

 

 

From the graph above, you can see that online banking is currently the most used process to see bank account balances and to make transfers. As you can easily see the statistic is applicable worldwide.

The situation at SME is almost the same.

 

On the following graph you can see very well which factors are decisive in order to induce customers and companies to use mobile banking.

Ultimately, this is not yet enforced in Germany or in other EU countries, while for example in Denmark and Sweden it is already part of everyday life.

First, it is said that you get higher profits when you manage your money online. Linked to this is the hope, if I pay cashback for example, then I get more back.

And then, of course, the hope that there will be more opportunities to do your banking without having to consult an advisor or call the bank.

Many also say that they want to understand the fee structure better.

 

Also, the hope that using the mobile app is better than the offers of their own bank, etc.

THE ONLY QUESTION THEREFORE IS, HOW CAN WE BRING PEOPLE INTO BITCOIN. BITCOIN MEETS PEOPLES NEEDS AND PROVIDES CERTAIN PROTECTION AGAINST MISUSE!

THE MUCH DEBATTED FEES WILL BECOMER RELATIVE WHEN THE BITCOIN BLOCKCHAIN WAS MADE FASTER THROUGH LIGHTNING, AND THE INVESTORS NO LONGER DETERMNE THE ABOVE CHARGES WITH THEIR WALLETS.

 

Looking at the next statistics, it turns out that 39% of the respondents say that they do not want the bank to make further offers through the mobile app.

 

As a consequence, people actually do not want to have anything to do with banks, apart from the administration of their bank accounts and the lending, because the additional services, after all, are usually only about the selling of insurance and offers for asset optimization.

Given the fact that BitCoin is deflationary, built on continued value gains, it sounds like a bad joke today to think of banks as a place of wealth accumulation. BitCoin users have experienced an increase in value of 850 percent in one year.

 

 

The FinTec dream – Marketplace banking (open market banking)

 

If you look at which portfolio should be integrated, it quickly becomes clear that there are no innovations waiting, it is simply an attempt to digitally map the old world.

If you compare that to BitCoin, you’ll see how disruptive it actually is. It replaces the ale system with the simplest connection and offers security that can not be broken.

You do not have to worry about payment and connection systems in the BitCoin world. The most revolutionary about BitCoin is that it is simply an accepted method of payment by retailers. With the entry of the largest ATM manufacturer in the world, which now also accepts BitCoins, there will be an even bigger gap between the banks and the BitCoin world.

 

With its BitCoin Blockchain and Smart Contracts, BitCoin offers everything from one source.

 

For example, SAP is a thing of the past.

 

BITCOIN and FINTEC – same problem

 

 

„MARKET PARTNERS MUST UNDERSTAND WHAT CUSTOMERS EXPECT FROM FINANCIAL SERVICES“

 

Considering the fact that customer data must be recorded, the customer will have access to „highly personalized concierge banking“ on the Marketplace. It’s about more than just money management, it’s about showing customers how to optimize their money by optimizing their loans, reducing their costs, or increasing their return on investment.

 

„In this area, it is also possible to involve others in order to centralize the interfaces to create a seamless customer offer“

And here it is brought to the point again. There are basically no new offers and visions, but only the old temptations to cause debt and the BIG DATA collection. The whole thing then bundled in a centrality, where everyone can access it. As described above, they use deceiptful methods to gain the customer’s consent in the use of his data and direct access to their bank accounts, of third-party service providers.

 

Basically, artificial intelligence could then be used to quickly evaluate the life circumstances of a person and gain control of all areas of his family, job and income. By linking IOTA data and motion profiles, there is no area in our lives that is not being monitored, no matter where you are in the world. They record who you have done business with, where the money from the business came from and what business preceded the generation of this money.

By manipulative blockchains, such as Ethereum and Ripple, EOS and bank cards, such as TenX, you could muzzle and ruin a non-conformist demonstrator in passing, so to speak.

 

For you to get a foretaste of what Deloitte imagines to be a user experience, and to make us become addicted and voluntarily give our whole assets to them, here is a video on the subject:

https://vimeo.com/15584133

 

If you can believe Deloitte, the banks only have the choice to defend their ownership of the interface (to the client) and will soon play another (subordinate) role.

That could then lead to a shift between the current network interest margins to one based on fees or profit sharing.

How something like this looks, you can see on the following graphic very clearly

 

Comparison of FinTec and BitCoin

 

Interestingly, the FinTec world quietly brought out an app, called Mondo, which today is called Monzo. Issued in connection with a card.

 

With this, users spent an average of (£50000) a month on each £560 pounds.

Compared to other bank cards, this looks like a real alternative.

By connecting third parties, customers can be sold multiple services.

For example, one point is for customers from a group of third party retailers of personalized products

For example, one point is that customers receive personalized products from a group of third party retailers. You can offer them as they have access to the user data stored at Monzo.

The App Mobi.Me has no credit function, based on the Visa prepaid system.

With 5,00 Euro fees for 2000 Euro withdrawal at an ATM it is among the cheapest cards.

 

Mobi.me has in addition to the payment function something that everyone would like:

An in-app exchange.

This means, I can exchange my BitCoins anytime, within the app against all currencies on the earth and then send the currency to another user of the app, who can then withdraw the money with the appropriate Visa card.

You do not need to do anything either, then the BitCoins are simply deducted when paying. The advantage is that the money in the form of BitCoins continues to increase in value and only the actual amount needed is converted.

Of the 50,000 cards Monza has issued, only 60 percent are actually using it. And those using it make, spend approximately $ 560 per month.

 

Mobi.me makes a turnover of several thousand dollars every day with a much higher number of users.

FinTec plans without thinking of the customer. The customer does not want additional services, he wants a secure, easy-to-use means of payment, and the only thing that interests him is the fact that BitCoin is increasing in value.

Anyone who has ever received BitCoin, appreciates it as a method of payment. Last year alone, the purchasing power of BitCoin increased by 850 percent (see price 2016 March 465 $ and November $ 8200)

 

Over the same period, currencies around the world slumped by 2-20 percent. Zimbabwe has seen rioting and the price of one BitCoin has climbed to $13,000.

 

 

Are the banks farther than you think?

 

Far from !

The banks are still in the development stage and must first get the basic things under control. Although the regulators are on the FinTec side, the implementation of the requirements in the banks leaves much to be desired.

 

The report reports the following problems:

– Data is kept in „silos“, without evaluation

– The existing IT applications stumble upon the processing of „large data“, such as images, video and speech

– Even if the participants dream of artificial intelligence (AI), of course it seems easy in theory, but in practice it looks very different.

 

So one tries to introduce virtual assistants and the artificial intelligence should thereby help to analyze simple customer inquiries and to answer automatically.

Furthermore, she should answer complex investment questions.

At Kensho Technologies AI Sofrware (Warren), computers may already be responding to claims like „what happens to an energy company’s stock prices when oil is priced at $ 100 and political instability is popping up in the Middle East …“.

The increasing analytic of data sets and behavior patterns from the data sets are the real danger. Man becomes a victim of his beloved routine.

 

„Cognitive automation, combined by artificial intelligence, combines the vision of machines with speech recognition and independent machine learning with the breakthrough of computer performance“

 

The dream of „Big Brother“ is far from over. Quantum computer technology can not crack the BitCoin Blockchain, but can evaluate large amounts of data in near real time.

 

What sounds harmless in this sentence is actually the connection of all the collected data of one person.

 

This data no longer belong to a person, but to the company that collects and evaluates them.

If you continue to spin this now, the behaviour of future children could be predicted from all this data, since the parent generation inherits patterns of behavior.

 

This behavioural pattern is also an expression of one’s own personality.

When these are recognized now, by the knowledge of others, and by observing stereotypes in behaviour, and their impact on the environment, then you can create the perfect manipulation, in which you artificially create certain external circumstances, to evoke human behaviour, as he always reacted to this situation, which we learned from the data collection and evaluation.

 

This way people are manipulated easier than by verbal or psychological persuasion. Also, it does not have to be expensively bought.

The weakness in the system is always human. False interpretations of situations, disappointments, etc. All this reflects in a persons actions.

 

Now it is possible to record all behaviours on a grand scale, such as IoT, smart cars, smart contracts, banking, consumer behaviour, etc.

 

The world is brought together by Blockchain.

 

The only question is which Blockchain does that … BitCoin or FinTec?

Example:

Someone gives you money and you go on holiday with it. At the same time, however, you are receiving benefits . The social security office now knows, by networking, that you have booked a flight and can now track where you are, how much money you have spent and whether you have earned money on your travels.

They can now easily close your wallet (account), take away online your car or driving licence with the touch of a button, and withdraw the fine from your wallet.

Incidentally, your house is sold and foreclosed, and your family learns from the News channel that you are broke.

Solution:

 

In the BitCoin Blockchain YOU DECIDE YOURSELF, WHO MAY DO WHAT, AND YOU LAY DOWN YOUR OWN RULES FOR A PROJECT!

INDEPENDENCE AND THE TERMS FREEDOM AND OWNERSHIP REALIZATION MUST BE RE-LEARNED

 

HOW FINTEC CORPORATE CONSULTANCIES HAVE DESIGNED THE FUTURE

 

„SUCH TECHNOLOGIES CAN ALSO BE PACKED IN CHAT BOTS THAT QUICKLY TARGET THE RIGHT CUSTOMERS TO SAVE COSTS. YOU CAN LEARN FROM THE PAST TO ANALYZE THE CUSTOMER’S NEEDS FASTER. BANKS SHOULD ALSO USE CONVERSION SYSTEMS THAT SPEAK TO THE USER IN A NATURAL WAY. SUCH AS „NATURAL LANGUAGE-GENERATION TECHNOLOGIES“ PRODUCE LANGUAGES ON THE BASIS OF FEEDING WITH DATA „.

„ANOTHER POINT IS FIGHTNG CRIMINALITY. GENERATING MULTIPLE REQUIREMENTS FOR AVERAGE PROCESSING, AND IF A CUSTOMER DIVERSES FROM THIS STANDARD, YOU CAN REACT ACCORDINGLY “

 

THE ABILITY TO INSPECT CUSTOMER DATA, AND USE IT ACCORDINGLY, IS FOR INDEPENDENT, INNOVATIVE, MORE PERSONAL AND ADAPTED PREDICTIONS ESSENTIAL. BANKS MUST MAKE A CULTURAL STEP FORWARD TO DEVELOP A „FAST MISTAKE – FASTER LEARNING“ MENTALITY, AND A SMOOTHER WORKING METHOD. They can ensure they capitalise on these strengths by attending meet-ups, participating in hackathons, and by working with bodies such as Innovate Finance.36

 

The last sentence is significant:

If we can not do it ourselves, we’ll just write a hackathon and the freaks will show us how to do it right. In addition, employees are sent to meet-ups or initiate their own.

OFTEN, THE FINTEC UNDERESTIMATES THE COMPLEXITY OF THE LAW AND THEIR REGULATIONS REGARDING TECHNICAL DEVELOPMENTS, SHOULD THESE GO TO MORE PRO-FINTEC REGULATED ENVIRONMENTS.

A CLEAR RECOMMENDATION IS WRITTEN HERE, FROM DELOITTE:

SINGAPORE IS PRO FINTEC

THE TECHNOLOGICAL POOL IN TEL AVIV

AND THE ESTABLISHED EXPERTISE IN SILICON VALLEY

 

CONCLUSION FINTEC VS. Bitcoin

 

THE FINTEC INDUSTRY HAS, DUE TO NEW LEGAL PROVISIONS, TAKEN THE NEEDED STEPS TO MAKE BANKS MAKE THE RIGHT DECISIONS. AT THE SAME TIME, IT ALSO INVITES REGULATORS INTO THE MARKET WHO WANT TO RESTRICT THIS PROCEDURE AND WANT TO THEREFORE SHOW A „FORM OF CONSUMER PROTECTION“.

 

FINALLY, EVERYTHING IS ALREADY DECIDED, AND IF ONLY 70 PERCENT CAN BE REPLACED AND 30 PERCENT LATER, IT SHOWS HOW STRUCTURED THE FINTEC ARE, AND HOW THEY ARE USING MASSIVE FINANCIAL ASSETS TO PROMOTE DEVELOPMENT.

 

THIS IS ALSO THE WEAKNESS OF THE BITCOIN WORLD.

 

THE BITCOIN WORLD AND BITCOIN BLOCKCHAIN ARE SAFE, DECENTRALIZED MEDIUMS, THAT ONCE UNDERSTOOD, HAVE BEEN EASY TO APPLY. THEY PROTECT PEOPLE FROM DIGITAL SLAVERY, OBSERVATION FROM THE GOVERNMENTS AND MONITOR BANKS FOR PLAUSIBILITY AND TRUTH, THROUGH INCORRUPTABILITY, SECURITY OF THE CASH REGISTER AND 100 PERCENT SECURITY AGAINST BEING INFLUENCED.

THE BITCOIN BLOCKCHAIN IS THE ONLY ONE THAT CAN NOT BE HACKED AND ALSO SAVES VALUES OF QUANTUM COMPUTER SECRET DECENTRALIZED.

IN ADDITION, IT´S ALSO TEN YEARS OLD.

 

BITCOIN SUPPORTERS DO NOT HAVE THE VISION OF THE FREE WORLD IN THEIR HEADS. ONLY THOSE WHO SHOW THE FINTEC WORLD HOW WEAK THEY ARE KANN INFLUENCE THEM AND CONTINUE TO HELP TO CREATE A DECENTRALIZED, RESPECTFUL WORLD, WITH A BETTER NUMBER OF PAYMENT SYSTEMS AND PROSPERITY THAT WILL BE REALIZED FOR EVERYONE.

 

THEREFORE, THE DESIGNERS OF THIS WORLD HAVE TO WORK MUCH CLOSER AND STRUCTURED. DISPUTES ABOUT VARIOUS ORIENTATION HAVE TO BE RESOLVED AND WE HAVE TO MOVE FORWARD. AND GAS. NO SATOSHI NAKAMOTO HAS ENTERED THE BANKING WORLD AND THAT GIVES US MORE TIME. ALTCOINS ARE MORE FOR KINDERGARTENTRADER AND ARE MAINSTREAM DIGITIZATION DEGENERATED. THE USERS HELP WITH ALTCOINS TO SUPPORT THE FINTEC WORLD IN THEIRS PROJECTS, AS THEY LOCK THEM INTO THE ALTCOIN TRAPS.

 

PEOPLE MUST LEARN THAT BITCOIN IS THE ONLY REAL COIN. ALL ICO, ALTCOINS AND BLOCK CHAINS ARE LITERALLY NOTHING MORE THAN A WAY OF GENERATING MONEY. NOTHING MORE.

 

IF DEVELOPERS AND BITCOIN ENTHUSIASTS HAD WORKED AS STRUCTURED AS THE FINTEC WORLD, BITCOIN WOULD HAVE BEEN ACCEPTED IN BROADER DIMENSIONS TODAY. JUST LIKE IN JAPAN.

 

THE WORLD STANDS BEFORE A POWERFUL DECISION, BUT THE ELECTORATE ARE STILL TOO UNEDUCATED TO DIFFERENTIATE BETWEEN CENTRAL AND DECENTRALIZED.

 

BUT THEY ARE CATCHING UP. NEW CRISES IN THE WORLD ARE FORCING THE FINTEC, GOVERNMENTS AND THE BANKING INDUSTRY ONTO THEIR KNEES.

 

IT IS TIME TO GET POSITION.

FOR A FREE WORLD – ONLY BITCOINS ARE FREE

 

 

 

 

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