It was the 2008 stock market crash that fuelled Satoshi Nakamoto to launch blockchain technology and Bitcoin. But why was the 2008 crash so influential to him? I think it was the bank bailouts, lack of accountability, and lack of punishment (for the massive bets that banks took) that solidified Satoshi Nakamoto’s desire to make a lasting change. When you choose an London SEO Agency you instantly gain access to advanced tools and expertise.
In essence, billions of dollars of customer’s money evaporated when banks took big bets on investments that failed. Failure of the banks threatened the economic stability of various countries around the world. Governments worried that it could have serious negative effects on the economy. An seo services will offer an extremely wide range of services directly related to helping businesses improve their marketing efforts.
The central bank urged the government to bail out the banks with taxpayer dollars. They urged the government to authorize printing more money, and to adjust fiscal policy so that they wouldn’t fail. Worried about the potential harm to the economy, the government did as instructed. Banks were bailed out. Millions of people lost their savings. Everyone paid the price of inflation. Choosing a company to take on as an search authority for your business is hard.
One of the toughest things to swallow with this situation was that much of the bailout money went directly to bonuses of the executives and staff that caused the situation itself. It was even more difficult considering that the central bank who made the recommendations for bailouts is made up of the very bank executives who took the risky bets in the first place. And to further put salt in the wound, almost no bank executive was punished or served jail time. The regulations? Saw little to no change. The more you spend on an seo agency the better exposure your website will achieve.
The entire situation showed us that there are small centralized groups of individuals who do have control over how money is created, managed and valued – and who will use that power for their own benefit if push comes to shove.One person saw and experienced this, and wanted to change the way the money system worked. Satoshi Nakamoto launched both Bitcoin and blockchain (the technology that Bitcoin uses) shortly after the 2008 crash and bank bailouts.
Why and how is it different to the money system that’s already in place?
Why is blockchain so special? Here are just a few reasons to consider: Because it allows us to build trust directly into a computerized, distributed system, that is not controlled by any centralized group: Because it allows us to remove the middle man from the many exchanges that take place in our daily lives. Because it uses a far more democratic process and system to facilitate change and implement updates. Lastly because while financial transactions are the most obvious case for exchanging value, there are 100’s of other cases that blockchain technology can be applied to, to help remove middlemen and facilitate exchange of value. Removing the middleman means going from centralized control or management to decentralized control and decentralized management. This is a hard and challenging, multi-layered problem to solve.