From the article Flawed Fundamentals:
Well, as those of you who follow me know, I’ve taken time off of my investment advisory business to build digital swaps powered by the blockchain. The startupt venture, Veritaseum, is uniquely positioned to capitalize on this movement because not only is it significantly ahead of most banks efforts in automating swap trading, it eliminates counterparty risk…
BlockChain is the technology behind BitCoin. It will totally up end the financial structure of the world. There is quite a bit of discussion these days about the dollar losing reserve currency status. But what if all currencies lose their status?
The article also discusses the high cost of financial services. BlockChain looks to cut those costs tremendously.
Which brings up another point. What if fracking technology destroys oil and natural gas economies? The UK has started fracking. China has started fracking. Gas and oil (fracked) has been discovered in Central Europe. Israel has a HUGE reserve of (fracked) natural gas. Who will need the Saudis (and the rest of them including Russia) if most nations are self sufficient in oil and natural gas resources.
Some of my previous articles on fracking: