When we wake-up every morning, we have to move, act, choose and interact with people and things. All these activities have an impact in short, medium and long term in our life. However, friction comes up when we get into relation with someone we may know or not, even have never met before, no matter where we are, what we do or which kind of relation we get involved, there is always the matter of interest, values and trust in the heart of its, which are often opponent and mutually exclusive.
1⃣. Interest guides choice
We all know that interest drives action, “No interest, no action” but me, I prefer it to be reversed, “action drives interest, no action, no interest”. I know some will say no -all is not just about interest-, because of thinking that interest exists only for physical things like food/fiat money that they can see, touch, eat or keep. Whereas, take it as you want, but let me tell you that interest has to be seen and appreciated in term of something which can not be seen most of the time intangible as well, but you can believe of it existence deeply. For example, when you fall in love with someone, there is most often a matter of interest, value and trust that has prevailed, the same thing with money. We believe in the value of our money because of interest coming from the trust in our government which can "guarantee the price and avoid fake of our money through time".
2⃣. What is Trust
So, how can we know or make sure and insure that the person in front of us or -with who we are doing business- is not trying to cheat, hide or manipulate us with fake products/money/news, even when it seems to be confident. We still continue to ask ourselves: is he/she a good person.
We have been through this challenge since the dawn of time. This has always been the source and the origin of many tensions, conflicts and war, between people, nations and countries all over the world till now. As we commonly say: "money is the root of all evil", it can be taken figuratively as well as literally, it has all its meaning in the context. The reason of this was lack of real tools that can provide true and fair frame for informations and its availability in real time to enable stakeholders engaged in transaction with divergent interests , no matter where they are on earth, to deal in peace of mind.
We have long trusted intermediaries, third parties like banks notaries, accountant, government authorities, etc who are supposed to control and facilitate transactions by checking and making sure that things are done according to the rules of art for antagonist and protagonist interests be preserved. The question is: will we still have to fully trust them, who controls, those who control despite the fact of established rules of law and regulation mechanism, which may appear too complex and complicated for ordinary people to understand?
3⃣. Arrival of internet and rise of digital
When internet came into existence in the 90s, many believed that finally we found the "holy grail" which could help us to solve this big problem of trust and having information available for everyone, as you know, "who owns information, owns power and wealth as well", this has become more real nowadays in the information age, some people like me, already call information the new money.
Unfortunately, when internet was built something was missing, we realized it when started using it: the mechanisms and modus operandi are on centralized way as all organizational structure that we know, given more power, wealth and control to 1% ultra-rich people. We all see what is going on out there now.
4⃣. Internet of money : In Blockchain we trust!
Then Bitcoin happened with the missing piece of the internet puzzle, Satoshi Nakamoto by solving one of the enigmatic issue in computer science, Byzantine Generals problem:’’camped with their troops around an enemy city. Communicating only by messenger, the generals must agree upon a common battle plan. However, one or more of them may be traitors who will try to confuse the others. The problem is to find an algorithm to ensure that the loyal generals will reach agreement.” By combening many technologies principles with economic theory to achieve one of the greatest inventions in the history of humanity called Blockchain, the machine to create TRUST a real trustless environment. It is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority.
This invention creates a framework where the means and the end are merged into one. It disrupts nearly all aspects of ours activities both socio-economically and politically, by putting basic layer from where many improvements and others sub-layer, features and tool are now built to enable ordinary people to use Blockchain and cryptotech easily to improve their day to day life: This is where SUREBANQA's ecosystem offer comes in.
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