FAQ - Bullion Backed Blockchain Fintech
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What is BULLIONBLOCK?

 

BULLIONBLOCK is a Payment Gateway & Digital Mobile Bank ecosystem, combining initiatives of entrepreneurs, investors and service-providers into a community that allows every participant to benefit by avoiding being ripped off by Banks and deceived by governments.

 

It is a community-based FinTech platform on Blockchain, that allows the user to control their own money and to not have to pay high Banking fees and Remittance costs.

 

The platform will serve the interests of each and every user worldwide equally. BULLIONBLOCK is focused on the One Belt, One Road (OBOR) route and beyond. BULLIONBLOCK is creating efficient, highly secure, and sustainable mobile digital banking solutions that put people before profit.

 

Offering the lowest fees worldwide based on innovative Blockchain technology, BULLIONBLOCK is aimed at converting the world’s unbanked population into contributors on the global economic level. Our purpose for these solutions is to improve living standards in developing countries by empowering everyone with the same economic might developed countries have enjoyed for decades.

 

BULLIONBLOCK is designed for remittance money services, everyday personal banking, business banking, as well as for the banking needs of local, state, and federal governments.

 

A BULLIONBLOCK Account is essentially a Borderless Bank Account. In other words, like a local bank account in any country, but all over the world. The BULLIONBLOCK e-Wallet is a multi-currency account that lets you hold money in over 40 different fiat currencies along with the main cryptocurrencies. One account to pay bills, send money, receive money, and or spend money all around the world.

 

Our low transparent fees saves the user money by converting between the currencies at the real live exchange rates, with NO hidden fees we will be much cheaper than the banks and other current financial institutions.

 

BULLIONBLOCK is a member of the Australian Digital Commerce Association (ADCA), the industry body that represents Australian businesses and other organizations participating in the digital economy through Blockchain technology.

 

The company is also a member of the FinTech Association of Hong Kong (FTAHK), which represents the Hong Kong and global fintech communities, and is based on pillars of transparency, accountability and good governance.

 

BULLIONBLOCK is registered with Australia’s anti-money laundering and counter-terrorism financing intelligence agency, AUSTRAC.

 

The company founders are members of FinTech Australia, the peak body for the Australian financial services, technology and innovation sectors. The founders are also members of the Blockchain Association of Australia, which aims to educate, develop and empower the Blockchain community of Australia and connect with both global leaders and best practices worldwide.

 

BULLIONBLOCK is in line with the future monetary system. Independence and freedom are not established through middlemen (Banks, Credit Card companies, etc.) but only with a real and true mass consensus, through a decentralized network.

 

The Blockchain technology does still require trusted middlemen to perform services and functions, but their roles and responsibilities change dramatically. For example, BULLIONBLOCK is similar to a bank, but will only offer the financial services that empower people by promoting economic inclusiveness that leads to a higher quality of life.

 

BULLIONBLOCK will operate through an app, leveraging AI technology and using Big Data to provide a seamless 24/7 banking solution that aims to better the lives of the User (the Customer).

 

BULLIONBLOCK is as equally committed to maximizing profit as it is dedicated to the Philosophy of ‘People Before Profit.’

 

What is the purpose of BULLIONBLOCK?

 

The purpose of the BULLIONBLOCK ecosystem is to be an end-to-end solution to the current global, interconnected, debt driven broken down monetary system that is enslaving the general public worldwide.

 

For example, the Australian people have been cheated and exploited to the tune of about $3.1 billion a year. Moreover, most Australians have no idea how much they’re effectively being robbed.

 

Capital Economics released a report in 2017 that explained Australian holiday-makers, business travellers and businesses paid over $3.9 billion on foreign currency fees in 2016, and this immoral behaviour is not specific only to Australia.

 

This is a common unethical trend across all western nations, along with the constant increase to the cost of living. Another pattern has also emerged in all the developed nations; another example is Canada…the Consumer Price Index (CPI) rose 1.3 percent from a year earlier, compared with a gain of 1.6 percent in April 2017. The three ‘core’ measures of inflation used by the Bank of Canada to predict where prices are headed also were weak, averaging 1.3 percent.

 

Furthermore, another example taken from the Financial Sector Bailouts, Sovereign Bailouts and the Transfer of Credit Risk Report by the Department of Economics, University of Melbourne in the case of 5-year CDS spreads over the period January 2006 to July 2015, the correlation between the German and US sovereign CDS spreads is 0.84, the correlation between the German sovereign CDS spread and the CDS spread for Deutsche Bank is 0.88, and the correlation between the CDS spreads for Deutsche Bank to all other banks worldwide.

 

People all around the world are paying exorbitant fees just to send their own money to one another! According to figures from a comprehensive United Nations paper on global remittances the global migrant worker economy, is a $3trn industry consisting of over 200m people sending home $445bn in remittances that is used in the support of 800m people.

 

To put it another way, nearly one out of seven people on the planet is supported by this global migrant worker economy, and these flows of capital are increasing. Between 2015 and 2030, an estimated $6.5trn will be sent to low – and middle – income countries in the form of remittances.

 

A serious concern to BULLIONBLOCK is the macro picture that is emerging in the economic markets. People are starting to question the on-going ability of the monetary and banking systems to manage interest rates, it is not unreasonable to think that the western banking system could be at risk of failure, especially if we take into account that most banks, if not all of them, have failed the stress-tests over the past recent years.

 

While the bankers and policy makers seem content to ignore the growing problem, our concern is that if the general public is not prepared to act when the market unexpectedly awakens to a correction, then there will be millions of victims from the reversal of many years of the low-interest rate price controls and asset price manipulation.

 

As the Central and Federal Reserve Banks continue to prop up the financial, monetary system through printing more and more Fiat currency, the death of paper money is therefore inevitable. While it is true that the Federal and Central banks have been able to postpone the day of reckoning, the inevitable collapse of the current Fiat monetary system will make the 1930’s Great Depression look like a picnic.

 

The entire financial reporting structure of our governments is specifically designed to support and promote the fundamental lie that our Fiat currency system is sustainable. The information that the mainstream news services tell us is not supposed to inform you, but pacify you and provide a continuous lullaby-narrative to delude you into believing all is well and to question nothing as you do not need to worry.

 

The inter-play of public and private risk is now one of the foremost challenges facing policymakers and regulators in the world’s advanced economies, yet much remains unknown about the sovereign–financial nexus.

 

The present cross-country heterogeneity that is systematic and worldwide is imploding and heading towards a total collapse of the current western monetary system, in other words, the western nations are in a race to the bottom.

 

The Bank bailouts caused by the 2008 Global Economic Crisis (GFC) played a key role in the management of systemic risk at the height of the GFC has only resulted in a short-term fix to a broken down system. These bailouts are a pyrrhic victory as they transformed the relationship between the financial sector risks and sovereign risks, leading to the emergence of a self-referential loop, which will eventually contribute to a major sovereign debt crisis in the USA, Australia, NZ, Canada and Europe.

 

Today, we are witnessing a global backlash against the Banks and regulators. For example, ordinary people along with businesses are being ripped off worldwide through exchange rates and high overseas card fees, and soon high interest rates and high inflation.

 

Historical events such as the 1930s Great Depression and the 2008 Global Financial Crisis, demonstrates that all Fiat currency systems are prone to failure. BULLIONBLOCK is the vehicle to protect and preserve your money, and if a bank holiday is declared in your country, or the market shuts down, or the internet falters – you are not affected!

 

When is BULLIONBLOCK and Crypto Mint DEX starting?

 

The company will establish the BULLIONBLOCK FinTech by the end of Q3 2019, and launch its own exchange, the Crypto Mint DEX by the end of Q2 2019.

The company will submit applications to the relevant government departments in Hong Kong, Singapore, Australia and Malta to obtain licenses and legally operate a Digital Banking and Remittance Money Service Platform.

 

For further comprehensive information please refer to our Whitepaper and other Company documents available on the web sites below.

 

www.bullionblock.world

www.crypto-mint.io