"Local currency trade is picking up between BRICS countries much faster than expected, reducing dependence on the US$", says Robert Besseling of @PangeaRisk at @gtreview Egypt 🇪🇬. Interesting. But is it is a sustainable development? Money has strong network effects which ultimately must converge again. The lesson of the recent past: Global Trade needs a geopolitically neutral money which no nation state can debase or abuse. #bitcoin

At tomorrow's Commodity Trade Finance Conference in Geneva🇨🇭, Bitcredit Protocol will be right in the mouth of the dragon. Our keynote will educate global traders about how #Bitcoin helps them with all the trouble and hindrances which political fiat money causes in international trade, distorting everything. Our Bitcoin-themed booth will be right beside those of the big fiat banks captured by that miserable system. Wish us luck. We'll send photos.

Really looking forward to be a panelist at “The Future of Money: How will the world pay in the next 10 years?” hosted by the Vienna Institute for Global Studies on September 26 at WeXelerate, Vienna. Key topics on the table: - The disappearance of physical cash and its cultural impact - The dystopia of digital government money - Total surveillance & control in cashless ecosystems - The promise of Bitcoin (not "Crypto") for a future society 👉 Reserve your spot here: 

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Writing my keynote for next week in Istanbul.

In a realistic #bitcoin future, there exist only two kinds of money: 1. Bitcoin base money (BTC, M0) 2. Bitcoin credit money (Bitcredit, M1) Credit money may only be created if it’s backed by real goods entering the supply chain. That’s what makes it honest. Example: 1. A farmer wants new machinery. 2. He finds a bank (ultimately private savers) willing to lend Bitcoin. 3. The deal: “10 BTC now, pay back 12 BTC in 5 years.” 4. The extra 2 BTC cover costs, risk, and profit. 5. If the farmer fails → the bank takes the loss. No bailouts. No money printing. Clear enough? PS: At 12 for 10 the bank is fine if 1 in 5 loans went bad, with a total loss. Unlikely though. With sound banking practice loans are backed by real collateral. PS: And no state guarantees — those breed inflation.

Satisfying progress and synchronisation of the four ecosystem components over the past three days: eBills v0.4, Wildcat v0.2, eCash wallet design, Clowder prototyping. View quoted note →