/biz/ - Business & Finance

>>27411491
>I think people in developed markets are going to see blockchains improve the transparency of developed markets, improve the fairness of developed markets, eliminate the size of boom and bust cycles from opaqueness, such as the 2008 financial crisis, which if smart contracts work the way they do now and they were integrated into the mortgage issuance process, I don’t think the 2008 financial crisis would have been anywhere near what it was. So the developed markets will benefit by taking this technology and helping it make their markets work correctly, in a fair, structurally transparent way to eliminate risk for themselves and the ancillary risk for the world that depends on developed markets financial economies. But emerging markets will go from zero to one. Emerging markets will go from, I don’t have a bank account with an asset that can combat the hyper inflation of my local countries currency, to, I do have a bank account in my phone with an asset that is immune to the hyperinflation of my local currency. and for the people that don’t experience or don’t even understand what hyperinflation is, hyperinflation is when in the morning you go to work, by the middle of the day you get a paycheck that day, and then by the evening that paycheck already can’t even buy you what it could have bought yo in the morning. And so, its a very dysfunctional situation that various emerging markets are in different states.