Virie Market can make it happen
Banks have been controlling the way we exchange values for many centuries. They have absolute power and control over us because we need them, and since they are allowed to do what they want without real consequences, they’ve abused their power and caused unimaginable human sufferings throughout the ages. The greatest proof for this claim is the 2008 financial crisis, which was primarily caused by the deregulation in the financial industry. Deregulation is when the government reduces or eliminates regulations in the industries to make it easier for the industries to do business.
These deregulations in the financial industry enabled the banks to engage in hedge funds trading with derivatives. Consequently, they have demanded more mortgages to support such a profitable sale of derivatives. They have also created interest-only loans that made it affordable to subprime borrowers. Subprime borrowers are those with less than a perfect credit rating, and because that was the case, they were charged higher interest on loans, making it even harder for them to get out of debts. Back in 2004, the fed funds rate was raised by the Federal Reserve, simultaneous with the reset of the interest rates in new mortgages.
These deregulations included the Gramm-Leach-Bliley Act of 1999, also known as the Financial Services Modernization Act, which repealed the Glass-Steagall Act of 1933, and that allowed banks to use their customer’s deposits to invest in derivatives. The next year thereafter, there came the Commodity Futures Modernization Act, which exempted credit default swaps and other derivatives from regulations. These and many other deregulation acts gave the banks so much power that they have abused eventually and led to being the primary cause of the financial crash in 2008. It was the year after that crash that bitcoin was created by now a legend, Satoshi Nakamoto.
Whether it was a coincidence or not, bitcoin has opened the doors for hope amid a crisis. As we all know, bitcoin is a virtual currency, better known as cryptocurrency, that is decentralized and, therefore, not controlled by any bank nor government. It’s the people who used it that puts the trust in it and gave it value. Many other cryptocurrencies followed after that, which paved the way to a stronger economy as the years went by. Many years later, governments are still struggling to regulate these cryptocurrencies, and while some exchanges are now being mandated to adhere to certain regulations, still the fact remains that cryptocurrencies are decentralized.
Yet still, the power of centralization by the banks had caused horrendous effects to many people, and it’s time to stop it. This is where Virie Market comes in. It’s a decentralized distributed exchange network that doesn’t use any third-party exchange to facilitate payments and all other transactions. Unlike third-party exchanges that are now being regulated, Virie Market is a market itself, hence it cannot be regulated thereby, maintaining its decentralized structure. Virie Market has a native coin simply called Virie (VRE), which is exchangeable for anything, including goods, services, and other currencies, both fiat, and cryptocurrencies.
So, if you’re asking how to overcome the abuse of power of decentralization, Virie Market can make that happen. It was created by the people, for the people. If you are one of the victims of such abuse of power, it’s time for you to look the other way. Virie Market will soon launch its Initial Exchange Offering (IEO) and Initial Coin Offering (ICO). Watch out for these offerings and participate, so you can free yourself from the oppression of centralized institutions and eventually be able to achieve your financial freedom. And hey, you don’t have to be an expert investor nor a geek to participate. Virie Market has been specifically designed for mass consumption. In fact, the interface of its platform is the most user-friendly ever created. Don’t believe me? Prove it for yourself here.