THE REVOLUTION OF MONEY

Our truth today is a digitized economy where we do not dig a hole to save or secure our money, it is why we have banks and financial institutions. think about this, we live in a world of numbers, numbers that represent data and value. If you think this isn't true, check your account balance, what do you see? Numbers yes, these numbers represent value.

Accenture believes that the future of money likely rests in the broadbased adoption of both tokenization and decentralization. Both may be critical to meet new demands for money and establish more direct, transparent and efficient payment relations for national and international financial transactions.

Now you may think the world isn't ready for this, just before you do, consider this, with the government driving financial inclusion we've ushered in payment solution platforms such as Baxi, Opay, GTpay, etranzact, vougepay... the list keeps piling up; want to know what they all have in common? they operate a mobile wallet system where just as in your bank account your value is represented in numbers, in the same mobile wallet, you pay for logistics, you transfer funds, you purchase airtime, order for meals,etc. This is why in this business, the one with the largest customer base wins, know why? the money remains regulated in their system. 

Tokenization emerges as a new format to represent goods, assets and rights. It offers new financial utility and attributes and promises greater flexibility and liquidity of the underlying. To transfer tokens, a simple token swap is performed. This requires a tokenized settlement medium. Acenture 2019

A new technology that offers a decentralized banking system is another option to this, what our centralized banking system is trying to achieve but with numbers proves to be limited, constrained, inefficient, inconsistent and insecure however with a decentralized banking system, financial value would not be in numbers but with data which would present properties, items, trademarks among-st other valuable resources, reshaping payments resting on the integration of assets and currency on a single ledger in the combination of tokenization, decentralization and secure information sharing.

This is a technology that can present data as ledger.