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Reduce Global Debt Project
Hello world my name is Te Rata, recently I decided to research debt accumulation by demographic and to my surprise, I was astounded by the total amount of debt there is. I was to some degree 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. I therefore began to research blockchain technologies to devise a system that would perhaps, minimise the social impact on ordinary people lives globally. I call it BitbuyBit we reduce debt it rhyme so I kept the name.
BitbuyBit blockchain projects aim and goal, is to reduce debt and to arouse 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.
You’re probable thinking “how can we help reduce such a large mount” or “it’s so huge it’s unimaginably impossible”. However, it is possible with the right applications and the automated systems to apply it. I’m sure most people know of Bitcoin blockchain, its more or less, a decentralise banking system backed by the public to provide a ledger of transactions. This lead to other blockchain platform’s been developed. What is important is the blockchains, BitbuyBit believes these chains can provide transparency and security because they are the intermediaries, as well, the enforcers of contracts.
We are promoting to raise funds in the development of sophisticated smart contracts. These contracts must have all the necessary parameters to meet Global Debt strategies for bonds and securities of international governments and business communities. BitbuyBit wants to deploy its smart contracts upon other blockchain forums, maximising its effectiveness worldwide giving ordinary people the advantage of reducing their debts.
To meet Global Debt BitbuyBit smart contracts must be robust and extensive. My criteria on conditions , for example, global economic’s, bonds and securities, international politic’s, international law and governance including inflation, tax laws regarding business residence country, interest rate, current tariffs, foreign currencies, BitbuyBit core policy and default parameters necessary to meet Global Debt.
The above smart expansion parameters develop upon its primary parameters of owner, maximum limit investment for equal public stake-holder, remuneration for employees and insurance liability. There are no share investments on the grounds that the public has a stake in BitbuyBit. There are others primary objectives that are inclusive, as you can appreciate all that is reference is very technical and complex, that would require the assistance of experience and qualified personnel to collaborate with blockchain engineers, regarding, the institution of its technical parameters. This is why BitbuyBit requires sufficient funding to develop it’s smart contracts.
In my opinion to reduce global debt is by a global community, a public forum of stake-holders by certification. Should global debt cause worldwide recession or depression even collapse, cryptoeconomic’s will survive. We hold their debt in our smartsafe equal to our credit upon the public ledger, so if the previous sentence eventuates, their debt holds no value therefore our credit becomes valuable. This is a brief outline description of BitbuyBit project.
To summarise: Global Debt is rapidly increasing to a level never seen before in human history. The future implications are severe certainly for our future generations, if some sought of crash doesn’t happen in our lifetime. We can at least try to reduce debt by means of current blockchain technology that is always advancing in terms of its practically, regarding, capabilities and functionalities, more security but most of all, its practical uses in the banking sector, accounting an transparency such as the public ledger. Complex technical and robust smart contracts act as enforcer of the agreement and intermediary, negates lawyers, consultants and contract fees. The collaboration between professionals and smart contract developers, is perhaps, the most comprehensive technical aspect in designing parameters required to meet the degree of Global Debt. BitbuyBit support public input and participation is why we believe its business should be community orientated by issue of stakeholder Certification. Therefore the more public influence the more credible and viable the project becomes.
