WORBLI is a new sister chain to EOS that will run under EOSio and where all user accounts will be “Know Your Customer” (KYC) and “Anti Money Laundering” (AML) compliant. Why do they want to do this? At first glance it seems to go against the normal grain of Crypto and Anti-establishment. What could possibly be the motivation?
WHY IS WORBLI NEEDED?
Well we are all aware that there is a big reluctance, fear and learning curve to overcome that the ordinary lay person probably finds not worth the effort or risk in order to participate in crypto-space. That is were WORBLI comes in. Because all the accounts are KYC/AML any existing licensed Financial business (Insurance, Bank, ???) will be able to set up shop and interact with all the customers with accounts. It becomes an “easy portal” for existing established Wall St. firms to get their foot into the crypto-space, and in so doing giving confidence to those lay people allowing them to on-board to the Blockchain.
SENSE OF LEGITIMACY FOR THE LAYMAN
Its most likely at first, these lay people will not even know they are on the blockchain, as many of these FinTech companies will make Dapps that people will load on their smartphones and utilize. But even better than that, all these new people will have easy access to the rest of the blockchain world via EOS and TeLOS, with which there can be easy interoperability. The fear that stems from ignorance of the new will slowly be alleviated by these connections to this new blockchain space.
WILL THIS LEAD TO AN INCREASE IN BLOCKCHAIN ADOPTION?
It would seem likely that when some existing large FinTech companies hop on the WORBLI band wagon that they will drag many of their existing customers along with them. This is one of the genius moves on WORBLI’s part to help out the entire blockchain space. No doubt, as these customers play with and learn to utilize the Crypto-Space that there activities will start spreading out far and wide from the WORBLI chain alone. This could be the first chain to break into the mass public with an embracing psychology of desired usage and acceptability.
KILLER Dapp THAT WORBLI IS EXTREMELY SUITED FOR – yes they exist !!!
This might seem a little counter intuitive, as WORBLI seem more for onboarding the established systems and structures, but because of it’s KYC/AML compliance, it lends itself Dapps and DAE (decentralized autonomous economies) that require that participants ONLY have ONE account per person. For this reason I propose the BIGGEST WORLD CHANGING DAE (and Dapps) that has ever been conceived, the TRMS (Transitional Resource Monetary System).
WHAT IS THE TRMS?
The TRANSITIONAL RESOURCE MONETARY SYSTEM (TRMS) – Out of cyberspace and into PHYSICAL GOODS PRODUCTION by Mom and Pop
The TRMS (like BTC whitepaper) was born out of the need to create a FAIR and JUST system of money creation and distribution. Here is an article that goes into the details of the problems with the current financial system and the ways designs for new types of motivational economic systems can be approached:
The article concludes by stating:
Well now that we have a handle on the source of the problems, it should be a fairly straight forward process to get to some ideas on how to “MAKE A BETTER SYSTEM that MAKES THE OLD ONE OBSOLETE” – (Buckminster Fuller).
- A currency should also be money – meaning a good currency is BACKED by something.
- Neither Inflation nor Deflation are good for an economy, a currency “value” should stay constant.
- A currency needs to be outside the control of governments that would cave to corporate bribes and abuse its power.
- If States won’t control their Corporate Entities, then those Corporations should be excluded from the benefits of a sound currency/money and economic system.
- A beneficial economic model would promote recycle-ability and re-use-ability in its most basic functioning.
So, with those goals set as a starting point, the TRMS comes up with this approach:
Its just wrong that Banks or Governments get the benefit of money creation when the whole reason there is a need for more money is that PEOPLE worked HARD and created more GOODS in the marketplace. It becomes obvious that the BENEFICIARIES of MONEY CREATION should be those who actually create the NEW WEALTH that the new money is suppose to be backed by. Hence the Transitional Resource Monetary System’s design was created, will FAIRNESS as the highest priority, and with the added design goals of:
- It is the intention of this economic system to provide a stable currency backed by recyclable materials both in storage and in products within the economy.
- to promote the usage of recyclable materials and modular technologies as well as reusable products.
- to lessen the burden of labor costs on producers.
- to lessen the costs for natural resource extractors.
- to lessen the costs for building a home.
- to create such abundance that the perceived cost of things becomes insignificant.
- the elimination of corporations and Admiralty Law on the Land
In addition, because the created money goes to the product producer, this makes production costs LOWER than even current CORPORATIONS under the current system can enjoy. This should lead to the end of Corporate Advantage and Corporate destruction of the world and its resources because of their desire to create products with planned obsolescence and with no regard for recycling or our physical environment in general.
Further research can be done into the design and intentions of the TRMS at these link below and the ones above:
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