Solving The Prosperity Paradox

 

danSynergy.life

BLOCKCHAIN

SOLVING THE PROSPERITY PARADOX

March 14, 2018

ROAD MAP TO PROSPERITY

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Financial identity is the genesis for a wide array of financial and economic opportunity previously unattainable for more than two billion of the worlds population

How?

Blockchain technology enables people from all walks of life to map out their own prosperity. Imagine that, a wealth of one’s own – for large numbers, ultimately billions of people.

Tools Of Abundance

The most requirements to participate in an economy are tools like a mobile phone and an internet access, the portal with which people interact with one another, and different value systems.

“If you are able to access the Internet on a mobile phone, suddenly you’re are able to you are able to access all these other things. You can access a  bank or at least the mechanisms for it.”  Blockchain technology creates a whole new set of business models previously unimaginable that empower individuals as economic agents.

Persistent Identity

You can use and port identities into different networks to establish reputation in a financial transaction or to plug into different social networks. Suddenly a pig no longer has to be the family piggy bank. New payment rails and means to store value and transact with with counterparties will open new frontiers. Indeed, this lowering of barriers to financial inclusion will make it easier than ever for entrepreneurs in the developed world alike to build businesses. This includes everything from turning on a payment mechanism, to having a reliable store of value, to using blockchain software to manage financial statements

Democratized Entrepreneurship

Under the right conditions, entrepreneurs are the engines of economic growth in society. They bring fresh thinking to the marketplace and fuel the creative destruction that makes market economies prosper. Blockchain technology bestows individuals and small companies anywhere in the world with many of the capabilities of larger organisations. Blockchain-based ledgers and smart contracts lower barriers to starting a company, expedite incorporation, and cut red tape particularly in the developing world, where it takes three times longer to incorporate and costs five times as much.

Blockchains can automate, streamline, and otherwise dramatically improve the three components of business building: formation, fund-raising, and sales. Formation costs will drop significantly, as blockchain is a trusted, known way to incorporate a business.

You  can see ownership and maintain records easily, especially helpful in areas where the rule of law is absent. Financing a company is easier as you can access equity and debt capital on a global scale, and if you’re using a common denominator – like bitcoin – you need not worry about exchange rates and conversion rates. Sales become a function of accessing anyone with a connected device. Buyers don’t need a credit card, local currency or credit card.

Distributed Ownership and Investment

We are moving into a period of human history whereby very large numbers of people can become owners of wealth through distributed ledger technology. Enabling access to the world’s financial markets and therefore the universe of investment opportunities, from conventional investments to participation in mass collaborative ventures, micro-lending schemes, blockchain Initial Public Offerings, and reputation-based micro-lending schemes, blockchain Initial Coin Offerings, will all open access to capital.

Already, crowdfunding is changing the face of finance. In 2012, nonblockchain crowdfunding campaigns raised £1.9 billion around the world, an 80 percent increase over the year before. With direct peer-to-peer crowd-sourced blockchain financings, these numbers are poised to grow manifold. Individuals can contribute small amounts of money through crowdfunding projects and campaigns. Imagine a campaign that engages a million people each giving a pound. Call it distributed ownership. Not meaningful you say?

 

Augur, the prediction market platform, raised millions of pounds  in small increments, from thousands around the globe. The range of possibilities is vast. Blockchain IPOs not only improve the efficacy and efficiency of raising money, lowering the cost for the issuer, they can also be broadly inclusive, allowing previously unimaginable groups of burgeoning investors  to participate. To date, the range of proposals to change income and wealth disparity has not reached beyond higher taxes for the wealthy on the one end, or, at its most extreme, outright expropriation by the state. Instead of redistributing and expropriating wealth, let’s imagine how blockchain can create opportunities to share more equally in the wealth created by society.

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