The technology of Blockchain and how it gave the expected solutions<\/strong><\/strong><\/p>\n\n\n\n But at the same time with the financial crisis of 2008, new technologies were emerging which could be used in all types of applications. One of these\ntechnologies emerged from the financial crisis of 2008 onwards is the\nBlockchain technology that was first used in the digital cryptocurrency Bitcoin\nof Satoshi Nakamoto giving this technology the necessary solutions and\napplications in many socio-economic sectors of modern societies. <\/p>\n\n\n\n It has found application in areas such as financial services, energy,\nservices of general common interest, industry, health, education, electoral confrontations with the\ncounting of votes, safeguarding and transparency of historical cultural, fiscal\nand any type of files in general etc.<\/p>\n\n\n\n According to blockchain technology, it is possible for an unlimited population\nof people-and regardless the size of population-to be able to participate in\nthe development of a network of connected computers and through this network\nthis population of people to participates in financial transactions and not\nonly, while providing this network with complete security in terms of\nsafeguarding the property of the participants. <\/p>\n\n\n\n At the same time no public type or other type of authority can in any way,\nas much as it wants, to intervene in the pre-agreed rules governing the realization\nor not of transactions. All persons\/participants of the blockchain technology\nnetwork, create and share together a common file.<\/p>\n\n\n\n The so-called consent protocol is a constitution of rules that forms the\nbasis for creating and safeguarding this common file. The more compact the\nsyntax of the protocol consensus, the less likely one of the participants to\nviolate the rules.<\/p>\n\n\n\n This common file, to all network participants, can be continuously enriched\nin chronological order by new participants without giving any participant and\nowner of this common file the ability to\ndelete data in this. <\/p>\n\n\n\n The new advertised documents that cling each time to this common file are then grouped into groups (data blocks) and welded together in time with each other such as the links in a chain (Blockchain) made jointly aimed at the participants of the network.<\/p>\n\n\n\n The uniqueness of blockchain technology<\/strong><\/strong><\/p>\n\n\n\n The ingenious technology of blockchain is based not only on its\ncontribution through its implementation in many areas of actions of modern\nsocieties but also on the possibility that the existing areas of action that\nuse this technology-markets\/industries to self-regulate and operate on their\nown without the presence or need of participation of any type of state power or\nother kind of power. <\/p>\n\n\n\n In fact, Blockchain technology enables it to be fully implemented in any\ntype of service and at any level either local or community or country-wide or\nglobally the liberal policy of Laissez-Faire, Laissez-Passer that promotes\ntrade, growth, culture and wealth of nations.<\/p>\n\n\n\n The terror that causes the state power of blockchain technology<\/strong><\/strong><\/p>\n\n\n\n The ability to fully implement laissez-faire, laissez-passer policy by\nBlockchain’s technology is why it terrorizes the everywhere Governments of the\ncountries of the Earth. For the first time in history the technology of\nblockchain gives the opportunity to organise in themselves any markets that use\nthis technology, without the need of presence of any state authority. <\/p>\n\n\n\n It is the first time that Laisse\u2019s faire, laissez-passer policy can be\nperfectly implemented in practice, without the state authorities having the\npower to intervene and demonstrate that markets can operate without state surveillance. For this reason, all states want in every way to be involved in regulating and controlling\nusers of this technology for protection reasons i.e. as they used to say, to do all types of\ncontrol to participants, to avoid money laundering, to avoid terrorist\nfinancing, ban on non- state-controlled cryptocurrencies and above all for tax\ncollection purposes.<\/p>\n\n\n\n Any state intervention as in the case of the bitcoin ban was made to avoid\nlosing the highest power that states have through their central banks to print\nand fully control circulation of their currencies-money in their economies.\nEven though state economic operators know that if in an economy each bank or\nany other type of financial institution was able to print its own currency,\ninflation in that economy would always be in low levels independently of the\ngrowth rates of the economy.<\/p>\n\n\n\n What is required of any market or industry in its self-regulation for the\ncreation of its secure network is to have strict and compact drafting consent\nprotocols without “holes” that one could use for own benefit.\nMoreover, since Blockchain technology using a network is a type of open\nresource code there will be a corresponding transparency. <\/p>\n\n\n\n Alternative ways to finance SME & start-ups through blockchain\ntechnology<\/strong><\/strong><\/p>\n\n\n\n Blockchain technology has enabled other ways of financing natural and legal\npersons equally to emerge and beyond the traditional way of banking practice\nand capital markets, capital markets targeting only large enterprises. <\/p>\n\n\n\n An alternative form of financing of enterprises and particularly innovative\nenterprises is the issuance by them STO’s (Security Token \u039ffferings) which are essentially digital securities and which are usually\noffered by public registration (IPOs-Initial Public Offerings) and by the use of\nDistributed Catholic Technology (Distributed Ledger Technology) based on\nBlockchain technology and which we described in a previous paragraph.<\/p>\n\n\n\n The STO’s are securities which represent the debt or share of the issuing\nSME or start-up. In developed markets such as those in the USA, the STO’s are\nsubject to regulation and legislation which are identical to those applied to\ntraditional financial securities.<\/p>\n\n\n\n The STO’s enable innovative businesses and start-ups to raise funds in a\nnormal and regulated -compliant way while providing greater security against\nany type of fraud. This feature that give the STO ‘s is extremely valuable when\ncompanies have no funding access from the banking sector.<\/p>\n\n\n\n In this way they can seek funding from the local society in which they have\ntheir headquarters which under other circumstances should be approached in\nother larger markets, while helping to develop local businesses by giving work\nin the local community.<\/p>\n\n\n\n At the same time the STO’s enable investors to sell and buy them, gaining\nbetter access to capital, increasing liquidity in the secondary market of STO’s\nand enabling everyone to acquire a portfolio of these digital securities. The\nSTO’s have as collateral real values.<\/p>\n\n\n\n A start-up or SME company to issue a STO that represents its company’s\nshare should do so with the help of a niche market agents such as STO’s\nissuance platforms, Exchanges, Custodians, Broker-Dealers, Legal\/Compliance.<\/p>\n\n\n\n All these procedures require a specific regulatory framework which so far does not exist on the EU market. Some tentative steps may be taken in France and Germany, but that is not\nenough when the other EU member countries are lagging far behind on these issues and especially when we\nare talking about growth that should be based on innovative enterprises.<\/p>\n\n\n\n The EU should make an example of STO’s from other countries such as the UK,\nUSA, Switzerland, Singapore.<\/p>\n\n\n\n Thanos S. Chonthrogiannis<\/strong><\/p>\n\n\n\n The law of intellectual property is prohibited in any way unlawful use\/appropriation of this article, with heavy civil and criminal penalties for the infringer.<\/em> <\/p>\n","protected":false},"excerpt":{"rendered":" The global financial crisis of 2008, apart from the structural upheavals it has caused to the banking and general financial system of the US…<\/p>\n","protected":false},"author":1,"featured_media":788,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[859,5],"tags":[785,793,787,797,792,25,474,489,791,788,786,798,790,799,794,795,796],"class_list":["post-787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics","category-economic","tag-bitcoin","tag-blockchain-and-stos-in-eu","tag-blockchain-technology","tag-blockchain-sme-and-start-ups","tag-distributed-catholic-technology","tag-eu","tag-france","tag-germany","tag-ipo","tag-laissez-faire-laissez-passer","tag-satoshi-nakamoto","tag-sme","tag-start-ups","tag-sto","tag-the-technology-of-blockchain","tag-the-uniqueness-of-blockchain-technology","tag-why-the-states-fear-the-blockchain-technology"],"_links":{"self":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=787"}],"version-history":[{"count":1,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/787\/revisions"}],"predecessor-version":[{"id":789,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/787\/revisions\/789"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/media\/788"}],"wp:attachment":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2019\/07\/90px-Blockchain.svg_-e1562844843791.png\")
Photo by Author: Theymos from Bitcoin wiki, vectorization: Own work
licensed, CC-BY-3.0, https:\/\/creativecommons.org\/licenses\/by\/3.0\/deed.en
Source: Bitcoin wiki: https:\/\/en.bitcoin.it\/wiki\/File:Blockchain.png
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