Our current financial system is an unfortunate relic of the past that needs to change, here's why.
Our current financial system has been in place for centuries, receiving changes and updates that have historically shown to benefit the banking system itself rather than the clients and families that it was intended to serve. Time and time again through booms and busts we see a financial system that puts the priorities of those in power over the vast majority. Never has this been seen more during the Recession of 2008, when taxpayer dollars were used en masse to bail out the investment banks that exhibited unabridged greed and gluttony in hoarding profits by selling undervalued financial products to investors.
However, the Recession was just the tip of the iceberg. In more situations than not investors (ie. anyone with capital that they will need to grow for the future, a sizeable amount of the global population) are forced to deal with sub par service and convoluted advice that leaves investors with more questions than answers.
If we lived in a world where our medical system was equally as flawed, we would see mortality rates skyrocket.
So in this article we will be covering the most pressing issues in traditional finance, and possible remedies that can be offered through new technologies such as cryptocurrency, DeFi and NFTs.