BloomBeans – the first fully decentralized financial system – is introducing a complete ecosystem for blockchain-based financial products that will be traded on P2P exchanges and decentralized loan markets.
The timing of BloomBeans’ launch is significant in the face of an ongoing societal shift from centralization to decentralization – especially in finance. This shift has given birth to DeFi – Decentralized Finance – a burgeoning sector that already boasts hundreds of millions of users. BloomBeans will support these people by building a cohesive financial system that truly utilizes and explores the potential of digital assets.
BloomBeans is tapping into 14 years of blockchain developments to create a streamlined version of today’s behemoth financial system, which is now so outdated and riddled with corruption that it has become a wealth-sucking machine from the real economy to the money lenders and warmongering power structures. Current systems expose the average person to wealth extraction, debt slavery, and market manipulation as unfortunate by-products of using a centralized financial system.
This issue is particularly prevalent with gold, where there are far more gold ETFs than gold in existence. Fortunately, Bitcoin and the blockchain emerged as solutions that proposed an alternative way forward, yet 15 years after their humble beginnings, we still haven’t sufficiently leveraged their capabilities to surpass the traditional model.BloomBeans heralds the solutions for the new society arriving, a society with sovereign cityzens that manage information and wealth in a decentraliced way, with full ownership and responsibility.
Decentralized finance is also democratized finance, the project argues, as it levels the playing field worldwide, opening the doors to a booming global economy. With universal access granted, the rules are the same for all, everything is perfectly transparent, yet the system still allows users to preserve their privacy and anonymity. By design, a system that makes all transactions public is far safer and less open to exploitation than one that hides behind private networks and centralized financial institutions known to abuse their power.
BloomBeans aims to do things differently by offering a range of financial products and services, such as loans, insurance, savings accounts, and pensions that can replace and improve existing options. The team claims to offer substitutions, upgrades, and cost savings on around 75% of centralized financial products.
Theirs will be a financial revolution built on math and code, with nobody seeking to manipulate the system and line their pockets. While the project recognizes that centralization has served an important purpose and that leadership has always proved important, we are now at a stage where the immutability of blockchain technology can overcome the inherent corruption of centralization.
Takashi Nakamoto, the pseudonym for the anonymous team of programmers and economists developing the BloomBeans Project, commented “There is a sense of inevitability when it comes to decentralization in finance. As the media, transport, and communications have all evolved and transformed with the times, so must the financial system. BloomBeans will lead this change, embracing and collaborating with the disruptive foundational world that has been done over the past 15 years.”
As with any other Financial System, BloomBeans does not create wealth. Its utility comes from helping the real economy to flourish by creating a useful framework to store, transfer and manage wealth. BoomBeans does so by developing decentralized versions of the most important financial products and a solid currency to sustain it.
About BloomBeans
BloomBeans is a decentralized blockchain ecosystem featuring its own currency, markets, and a suite of the most familiar financial products, all tailored to facilitate the ideal financial environment for a healthy economy. While Bitcoin introduced the world to decentralized currency and acts primarily as a store of value, BloomBeans aims to usher in a holistic decentralized Financial System.
Disclaimer
This article contains a press release provided by an external source and may not necessarily reflect the views or opinions of BeInCrypto. In compliance with the Trust Project guidelines, BeInCrypto remains committed to transparent and unbiased reporting. Readers are advised to verify information independently and consult with a professional before making decisions based on this press release content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
