Reply to thread

Message: <blockquote data-quote="ibnanv" data-source="post: 23554932" data-attributes="member: 218596">Germany is planning to launch a cross-border payment system to free  banks and financial institutions from the US influence, a decision which  could turn positive for Bitcoin and a few other altcoins. The decision was made after taking into consideration the aggressive  stance taken by the US against Europe, China, Canada and other countries  in terms of trade. To put it in simple terms, Germany wants to create a  cross-border payment system totally independent of the US. The recent sanctions announced by White House against Iran and Turkey  have resulted in the exclusion of these two countries from the global  financial network. Both countries are struggling to conduct their  everyday operations. Germany, which has good relationship with both  Turkey and Iran, does not feel the need to impose harsh sanctions on the  countries. As a result, Germany is exploring alternatives to bypass the  US sanctions. Heiko Maas, the German foreign minister serving in Angela Merkel’s cabinet since March 2018, said:“For that reason it’s essential that we strengthen  European autonomy by establishing payment channels that are independent  of the US, creating a European Monetary Fund and building up an  independent Swift system.” Adopting a new global payment processing system may fuel the growth  of Bitcoin and other cryptocurrencies. Kim Dotcom, a German-Finnish  businessman is of the opinion that the exodus of European economies from  the current banking system could result in revaluation of the greenback  and transition of Bitcoin (BTC) and Ethereum (ETH) as a dominant store  of value and medium of exchange. Kim Dotcom stated“Significant. German Finance Minister proposes EU  monetary fund, EU swift and non-US payment systems. He says its to  salvage Iran deal. But it’s really the EU exit from USD dominance. Like I  said, USD will collapse. Buy crypto and gold.” Cryptocurrencies are slowly gaining a reputation of a dependable tool  to fight inflation and bypass sanctions. Venezuela, whose economy is  crippled due to inflation, considers Petro as the major tool to bring  financial stability. Iran, which is also struggling to keep the economy  afloat, is also planning to launch its own digital currency to bypass  the US sanctions. The country is also planning to provide suitable  conditions for the development of blockchain technology. Right from the beginning, cryptocurrency is perceived as a major  alternative to the SWIFT system over which the US government has a  complete control. Even though SWIFT payment settlement system is based  out of Belgium, the organization cannot resist US sanctions. In this regard, Ripple is making huge inroads to position itself as  an alternative to SWIFT system. The firm has already launched operations  in Asia and the Middle-East. Furthermore, it is in talks with several  banks and financial institutions in Europe.</blockquote>

Verification: Dawasata paya keeyak thibeda?

Top Bottom