Gutemberg Dos Santos is an active promoter of the use of Blockchain technology and digital assets. A Brazilian-American entrepreneur focused on the development of the crypto economy.
"Imagine a world without financial entities, without social inequality, without fraudulent acts, without bureaucratic processes, that is Blockchain". Gutemberg Dos Santos.
Gutemberg spoke at a technology convention about the benefits of using Blockchain in the global economy. As Internet, at the time was an opportunity to close the information gap, Blockchain becomes a hope for the closing of the great existing gap in the global economy.
No doubt this technology favors everyone, but it has come to open a great opportunity for millions of people who lack a banking identity, because Blockchain revolutionized the transaction industry by accelerating the capacity of mutual transactions in seconds without the need of third-parties. Now people living in rural areas can buy cryptocurrencies and convert them into local currency to buy any good or service; and they will get to send and receive money with symbolic commissions to any part of the world.
Large banking companies are opening the door to this technology by adopting the blockchain platform to reach people with no credit history, which is a great progress, while giving the opportunity to acquire microcredits eliminating operating costs and compensations this usually entails. At the same time, Blockchain also comes to revolutionize current lending platforms, making untraceable the way they are being spent. Also, it reduces processing costs and infrastructure in the global payment operations networks since the current banking systems require a large capital investment for this.
The clearest and most recent benefit that has been reflected thanks to the Blockchain technology is the cost cutting of remittances, gaining more and more market and competing with the great duopoly of Wester Union and MoneyGram, which have not reduced importantly, there rate in remittance and blockchain transactions, plus reducing the cost significantly, it is faster and easier as sending a text message.
This decentralized platform came to break the traditional systems that have made constant use of our personal information, manipulating our money at the same time without rendering accounts, besides having us paying high commissions for each operation and keeping us under their conditions. The time to dismiss financial institutions, social inequality, fraudulent acts, bureaucratic processes, etc., is getting closer to make a way for blockchain technology that, will not only break the global economic system but bring great contributions to humanity, rebuilding the systems that make the world move in a more transparent, collaborative, safe and most of all, equitable way.