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    Author Topic: Why bitcoin is created?  (Read 2598 times)
    Pandacomel
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    March 08, 2018, 03:02:11 AM
     #201

    Blockchain technology will impact every person and business globally, to give an example I am going to start with how banks operate in our current world and why they are grossly inefficient and fraudulent. First of all, banks use a system called fractional reserving. This system allows them to only partially reserve the deposits that are sent in trust to them. Banks control our monetary supply and have driven the value of our currencies and our real purchasing power to a fraction of what they were 10 years ago.One of the fundamental elements of Blockchain is that the manipulation of monetary supply is not controlled by a ‘trusted’ third party.
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