Bitcoin Cash has a lot going for it, which gives me a lot of hope. The general consensus is that it's a non-event chain. They don't think it's worth much in the grand scheme of things.

An important issue concerning money has been overlooked in many cases. When we examine the monetary system, we can understand why Bitcoin Cash is perfectly positioned for the future.

We're also living in a very different time period than we were in in the past. Most of society is being profoundly altered by the current events. This all revolves on money.

We live in an information-rich era. Despite the fact that a single currency is useful in a time of minimal knowledge, this is no longer the case. The financial system has evolved over the past 80+ years in tandem with technological advancements. As a result, the entire monetary system was upended.

Prior to the Great Depression, we used a combination of commodity money and private bank money to fund our economy. Reserve-based money was abandoned by the Federal Reserve in 1937 because of a lack of confidence in its ability to act when necessary. In place of that, they went with a ledger-based system. After a decade, the Eurodollar system was born.

We've reached this point right now.

Excluded from Money: Governments

Governments have been excluded from the money game for most of the twentieth century. The Central Banks are no different. It may come as a surprise to some, but financial reserves are not given any regard. The commercial banking system generates only a small portion of the world's currency supply. When it comes to bank creations of money, governments and central banks have nothing to do with it.

This is why the concept that governments are going to ban bitcoin is a joke.

It has been in use for many years.

Authorities cannot regulate it since they have no mechanism to intervene. This is just going to get more difficult to track as technology progresses..

The Bankers Are Going To Be Banned From Taking in Money.

True or false, this may be a bold declaration, but it is also accurate. Because of the scarcity of data, having a universally accepted standard is essential. As a result, there is a wide range of opportunities for middlemen. In the end, these entities become the system's gatekeepers.

The paradigm was given to us by the bankers, and the capability is being provided by technology. Instant money creation is possible with Ledger Banking. All that is needed is a two-party agreement. In a position to seize full control, the industry was able to take advantage of its role as a gateway to most financial activity.

If we think of it as a bridge, then it makes sense. A bridge must be built in order to allow the greatest number of people to cross a river in the quickest and most efficient manner possible.. Most decisions are in the hands of the person in charge of the bridge.

Bankers were positioned in this area.

When a bridge is no longer required, what happens to the land around it?? With hundreds of bridges, how will the situation change? The bridge serves as a metaphor for the bank. The need for a single currency reduces as we progress. Thus, tens of thousands of bridges will be built.

Without the banks, we have banking. For the first time in decades, money that was previously based on ledgers can now be decentralized.

For example, who needs a single unified currency when an application allows for near instantaneous swaps between thousands of different tokens? A single currency isn't necessary for everyone anymore. Even though everyone can have their own, the app keeps track of all the necessary data.

We can see here how quickly the banking sector loses its clout. People can not only rapidly hop from one bridge to another, but an infinite number of them are appearing.

There is no one in charge.

The Check Clearing System Is About To Get A Whole Lot Easier To Use.

The history of checking as a type of currency is sometimes overlooked. Even as far back as 1910, the Federal Reserve Bank of Atlanta found that the vast majority of transactions were carried out through this medium.

As a result, a payment processing and settlement system was built. Checks were handled in the same way as gold-backed currency and moved at lightning speed. In the course of time, the financial system built up a vast computer network to ease global transactions.

Account A (ledger) was deducted while Account B (ledger) in a different bank in a different geographic region was added to the account balance. There was no bodily transmission involved in the process.

This took less time than transmitting real money because of the developments in communication networks. Nevertheless, the old method was rendered ineffective.

As a result, blockchain has not only replaced the bank, but it also allows for near rapid settlement. Money can be moved from one wallet to another in a matter of seconds. Approximately three seconds later, this happens on Bitcoin Cash.

As a result, it is unnecessary to:

• Processing of Funds

• Financial transactions between financial institutions

• BANK WIRE.

Information Is Money

This century's system is nothing more than an information system, as we can see. The Eurodollar system (sometimes known as "shadow banking") is nothing more than a collection of accounting systems. Ledgers serve this purpose. This is a significant part of traditional banking, too.

For Elon Musk, money is a database. I think he's on track.

Advances in technology have had a far greater impact on our financial systems than the rise of money. It is now possible to send information across the world in less than a second.

Email or text message money transfer is as easy as sending an email. There isn't much of a difference.

A blockchain like bitcoin Cash is actually a data store. " There are no banks or third parties engaged in the transactions that are recorded in this database (Ledger). The system's decentralization means that no one is in charge.

Learning About The Financial System

Understanding the current banking system is essential if it is to be replaced. When developing an application to replace those services, this serves as a starting point.

For what reasons is Hive the best tool for the job? We need to go back to the basics in order to obtain the full picture. When it comes down to it, banking is just a glorified phone system. Having a strong one is therefore essential. We're working with transaction times of three seconds or less using Bitcoin Cash. When it comes to global finance, this is a tremendous tool (communications).

A fee-free mechanism is also in place. This is critical information. Replacing existing intermediaries with new ones isn't much better. To put it another way, there is still friction in the system, resulting in extra expenses for the end-user.

One of the few is Bitcoin Cash, which takes this out of the picture.

The Evolution of Money: Cryptocurrency

Since Ledger-based banking has been around for more than a century, it's only logical that the next generation will build on it. That can be done using cryptocurrency.

In this example, we can see how blockchain can be used to broaden the concept of private money in the real world. There are no governments or Central Banks participating in this field. The fact that they haven't been in the money game for so long isn't a surprise, as we've shown.

Data is at the heart of cryptocurrency, and it's becoming increasingly difficult to manage. Systems that are really decentralized are being developed. There is no way to block this network, which has nodes all across the planet. There is no halt to the flow of information. It's a big problem for the establishment when that data represents money.

Ledger-based money has progressed to the next level.

Of course, the commercial banking system will be ignored this time around rather than governments.

Banks, like newspapers, will eventually fade into obscurity.