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BankChain fuels the Valueweb

The new digital network of business has a universal currency at last
Dateline: 9 March 2024

They’ve been around for hundreds of years, and they weren’t just going to give up the ghost and disappear. Yes, I’m talking about the banks.

A decade ago, ‘bank’ was a four-letter word in more ways than one, and everyone was predicting their demise in the face of the FinTech revolution. Finance was being overtaken by technology, and pundits asked: “When will the banks be Ubered?”

But the banks fought back, usurping Bitcoin and the blockchain with a better, more scalable and widely acceptable solution. They called it BankChain.

BankChain was the key to enabling the monetizing and digitizing of almost everything. Digital commerce, digital manufacturing through robotic 3D-printing and digital logistics; on top of media, entertainment and all the usual stuff. They needed a fully digital currency, to enable the Valueweb: an internet where value can be exchanged anywhere, anytime by anyone.

You see, despite all the negatives, people still trust banks more than they trust government or tech companies when it comes to stores of value, even digital value. The ‘bank’ aspect to BankChain, created and backed by banks worldwide, gave it the legitimacy even the mighty dollar, euro and yuan could never achieve.

The fact remains that fiat currency always carries a political and fiscal risk; it’s controlled by a nation state. BankChain is controlled by the Valueweb itself, globally, and legitimized by the financial markets, and of course, the banks.

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Warning: Hazardous Thinking at Work

Despite appearances to the contrary, Futureworld cannot and does not predict the future. Our Mindbullets scenarios are fictitious and designed purely to explore possible futures, challenge and stimulate strategic thinking. Use these at your own risk. Any reference to actual people, entities or events is entirely allegorical. Copyright Futureworld International Limited. Reproduction or distribution permitted only with recognition of Copyright and the inclusion of this disclaimer. © Public domain image.

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