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New York, NY August 20, 2018 – Te Rata recently decided to research debt accumulation by demographic and was astounded by the total amount of debt there is. Let’s face it, not a single living adult is free from debt. In one form or another someone owes somebody something. It’s just a fact. Individual debt is just so minute compared to the bigger problem that admittedly, the general population doesn’t even care about, and that is Global Debt. So let’s get to the bottom of this. On a small or even a larger scale, how do we get into a debt crisis? Here are some facts.
Household Debt Crisis
A household debt crisis occurs when a family starts falling behind on monthly payments. There are three types of household debt. Home mortgages, credit card debt and student loans. You can throw in car payments here as well.
Business Debt Crisis
A business debt crisis is when a company has trouble repaying its loans, known as bonds. They get downgraded as a poor investment. Once this happens, it becomes more expensive for the company to issue new bonds. Unless the company can convince creditors it has made the changes to do better, it can go into a downward spiral where servicing the debt takes up the cash flow that would otherwise go into new business development or even operations. Eventually they file for bankruptcy.
Sovereign Debt Crisis
This occurs when a country can no longer pay the interest on its debt. Just like a business, the nation finds that worried lenders demand greater interest payments on new debt. This is pretty much what happened to Greece a few years ago. They had no control over what was to happen which is very much what happened to the Unite States’ debt crisis, which was, well, self-inflicted.
The ramifications of a global debt crisis is staggering and will affect all of us. But someone has stepped up with a very sound and plausible solution. His name is Te Rata, recently he decided to research debt accumulation by demographic and to his surprise, was astounded by the total amount of debt there is. He became very concerned of the implications it’ll have in the next decade, but more so, for our future generations, and the impact it’ll have on their lives. He delved deeper on blockchain technologies to devise a system that would minimize the social impact on ordinary people lives globally. Hence the concept of BitbuyBit was born.
BitbuyBit blockchain projects aim and goal, is to reduce debt and to raise public interest of our current global crisis. Global Debt sits at approximately $164 trillion as of April 2018. BitbuyBit believes, current “Public” Blockchain technologies is an effective tool to reduce this bubble crisis. But he cannot do it alone. it would be great if Morgan Stanley (NYSE: MS) would grab this and run with it but it seems very doubtful.
Help break the shackles of debt by going to https://www.indiegogo.com/projects/global-debt-blockchain-project
KeyWords: Global blockchain project, debt security bonds, Global blockchain project, Debt, Security Bonds, Bonds, Debt, Security, Worldwide, Global, Te Rata, BitbuyBit, Morgan Stanley, NYSE: MS, NYSE, Block Chain
Video Link: https://www.youtube.com/watch?v=IB07qsjDvC0
Media Contact:
Global Debt Blockchain Project
BitbuyBit
Te Rata Pou
Twitter @terata71
teratapou @ yahoo.com .au
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