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With the recent news of Coinbase’s Nasdaq listing, blockchain companies appear to be changing the currents of the mainstream. Notably, the Federal Reserve of New York has established a fintech (financial technology) advisory board, including IBM’s Martin Fleming, to better understand, regulate, and bolster this emerging technology.
But a major reason why blockchain has received such interest goes beyond its financial uses. The technology has the potential to improve transparency, security, and privacy in myriad industries, for countless consumers.
For example, global logistics business Deutsche Post (parent company to DHL) has been working to implement blockchain technology to improve their processes. Or take the case of the Mobility Open Blockchain Initiative (MOBI), a community formed by a number of major companies. Automotive stalwarts Ford and BMW, two members of MOBI, released a new standard for used car ownership identification through blockchain in order to prevent fraud.
As you can probably tell, blockchain’s likely here to not only stay but become a major part of the technology that’s already been interwoven in many of our daily lives. Technologist George Gilder has dubbed a blockchain-powered world, as opposed to the current reality of Big Tech dominance, the ‘cryptocosm.’
In this article, the Zero Theft Movement will discuss how we use this budding technology to power our effort to eradicate the rigged economy, as well as shed light on the other blockchain companies changing the game.
The Savings and Loan Crisis in the 70s resulted in the failure of nearly a third of 3,234 S&Ls and reportedly cost taxpayers $132 billion. Was economic foul play involved?
What is Blockchain?
For those of you who don’t need a primer on blockchain, you can skip to our list of blockchain companies disrupting their industries
First things first, there’s one important distinction you should know:
Cryptocurrency (e.g. Ethereum) ≠ blockchain.
Cryptocurrencies represent one single use of blockchain technology. As shown with the examples in the introduction, blockchain companies have found many uses for the technology beyond fintech.
How does it work?
Blockchain does not require much expertise to understand actually. At least, how it functions and what it brings to the table.
The Zero Theft Movement does not have any interest in partisan politics/competition or attacking/defending one side. We seek to eradicate theft from the U.S economy. In other words, how the wealthy and powerful rig the system to steal money from us, the everyday citizen. We need to collectively fight against crony capitalism in order for us to all profit from an ethical economy.
Terms like ‘steal,’ ‘theft,’ and ‘crime’ will frequently appear throughout the article. Zero Theft will NOT adhere strictly to the legal definitions of these terms (since congress sells out). We have broadly and openly defined terms like ‘steal’ and ‘theft’ to refer to the rigged economy and other debated unethical acts that can cause citizens to lose out on money they deserve to keep.