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February 17, 2020, 02:19:36 AM |
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In 2008, the U.S. plunged into a financial crisis because of the Federal Reserve’s low interest rate policy, the shadow banking system’s evasion of regulation, and the principle error of credit rating algorithms. In 2009, the Federal Reserve announced that it would expand its quantitative easing policy, and rescued the financial crisis caused by American bankers on the premise of the depreciation of fiat currency in the hands of citizens. Everyone who owned dollars was passively involved in the rescue activity. People realized by then that the value of our legal currency had always been controlled by capitalists, and the world’s financial structure was in urgent need of change.
In early 2009, the Genesis block of Bitcoin was created. It has solved our trust problem through blockchain technology, so that everyone in the world can achieve peer-to-peer transactions without centralized institutions and regain the “control” of their money from centralized agencies. Bitcoin is on track to change the world’s financial landscape, with the goal of shifting from a separated system of controlling currencies on a country-by-country basis to a decentralized consensus that determines the value of currencies.
Now it seems that Bitcoin can indeed help people seize control of the currency from centralized financial institutions. However, due to its lack of application scenarios and low speed in transaction confirmation, it is impossible for Bitcoin to become the electronic cash as described in the whitepaper, but rather a safe haven currency like gold which cannot truly circulate worldwide. The advent of VDS picked up Bitcoin’s dropped baton of changing the world’s financial landscape.
VDS utilizes its resonance trade function to offer Bitcoin users a decentralized one-way exchange channel, so that every user can convert their Bitcoin to Vollar (the currency circulating in VDS ecosystem) without seeking a counterparty. Resonance trade is how VDS picks up the baton as it completes the barrier-free exchange of Bitcoin to Vollar.
After receiving the baton through Resonance Trade function, VDS took over the mission from Bitcoin with a mining mechanism suitable for the circulation of electronic currency and its built-in commercial application scenarios.
Compared with Bitcoin, VDS has a better mining mechanism that is suitable for electronic cash, as well as shorter block interval and larger block size. This setting effectively solves Bitcoin’s problem in slow transaction confirmation.
In VDS, the unique chain of relationships built by Trust Stamp Network and future blockchain business smart contracts will help turn Vollar into electronic cash. The Trust Stamp Network is a multi-level interpersonal fission promotion system based on blockchain, which solves trust problem between people to a certain extent. Each VID here can build his/her own Trust Stamp Pyramid and reap the benefits, through which VDS achieve rapid expansion and get more people involved in the ecosystem. The future blockchain business smart contracts is a consensus sales network, where the promoters receive commissions for the consumption the VIDs made under his/her Trust Stamp system. The Trust Stamp Network has attracted huge groups of people to join, and the blockchain business smart contract has built a grand decentralized business network by implanting interpersonal relationships under the Trust Stamp system. The built-in Trust Stamp network and chain business smart contract functions in VDS will establish a business empire on the blockchain. It is an example of the organic combination of decentralized cash flow and business scenarios, solved the problem of Bitcoin’s lack in application scenarios, which is why Vollar, unlike Bitcoin, can be used as circulating electronic cash. In VDS, we have a dynamic and continuously developing network of value relationships that can accommodate billions of VIDs and provide us with long-term revenues in the process. We can participate in the business model to build our own business cash flows.
The emergence of Bitcoin has helped people grasp the value of their assets. However, due to the lack of application scenarios and slow speed of transactions, Bitcoin cannot become the electronic cash circulating around the world. Coupled with the increasing penetration of centralization institutions, what we urgent need is a decentralized electronic cash. VDS took the baton from Bitcoin in a decentralized manner through resonance trade and utilized a mining mechanism that makes the transaction faster, as well as the Trust Stamp Network and the future blockchain business smart contract to solve the problem at source that Bitcoin could not become a universal electronic cash. Holding the baton from Bitcoin, VDS continues to fulfill its mission of changing the world economic landscape.
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