I have dedicated 85% of my professional life to banking and 15% to technology. I have stayed up late at night to get another extra 20% to read, learn, understand and use new technologies.
I am a pure fintech man.
I learned from the “fin-“ prefix that banks were born with just one obligation: to promote economic activity. Their role is simply commerce, bartering or exchanging things between those who have and those who want. Something that, as humans, we have been doing since the very beginning of time.
From there, banks have facilitated all services, products, tools for the producer to produce, and for the consumer to consume. They’ve built, controlled, and injected into the distribution channel the tool on which it survives: FIAT currency.
Then, suddenly, the world evolved.
The internet appeared as the first part of six decentralized societies. The internet simultaneously managed to democratize communication, information and knowledge. This first part of decentralization lead to a cascade of new developments and fundamentally altered every single industry on earth. Naturally, it quietly brought new banking competitors.
From the “-tech” suffix I witnessed how fintechs, unexpected technology competitors with financial flavor, started to unbundle the banks. Banks were doing a lot of things at a single given time and they found themselves competing with small, fast and flexible companies which were optimized in terms of flow, resources, business models and technology and are tailored towards very specific products.
Banks have officially lost the race.
They are no longer the best providers for a specific product, tool or service in terms of both the producer and consumer. This occured as the internet ushered in an age of disintermediation and transformed the way the world works into a peer-to-peer network.
Despite the internet, they still retained an exclusive function: money issuance. This is the very tool used to ensure their relevance in an increasingly decentralized world.
However, the invention of the blockchain and Bitcoin by Satoshi Nakamoto in 2008, made it possible for people to create their own CrpyptoCurrency and eventually lead Vitalik Buterin to create Ethereum enabling anyone to create their own token, with real rather than simple debt, and back it with real assets rather than fiduciary money.
Satoshi enabled a new form of commerce and digital bartering. Thus giving birth to the second part of six decentralized societies: decentralization of finance.
The combination of decentralized knowledge and decentralized finance allowed this open source technology to rapidly evolve towards the third part of decentralized societies: smart tokens, smart contracts, and the decentralization of law; the notable example being the Ethereum blockchain co-founded by Vitalik Buterin.
New business rules embedded in the token, self-endorsed rules and auto executed laws, with no lawyers or judges that can alter these preset rules. This is the reality of decentralized law. This is set to revolutionize the way in which we create contracts, manage our money, and bank.
It is from this environment we have emerged. We have created 2gether to foster a completely new financial platform for a completely new monetary system. We made it to enable crypto economies within newly empowered and decentralized societies.
A platform for all of us, built in a collaborative way, utilizing our Ethereum token, the 2GT to be the most powerful community tool. 2gether is set to change the world as we re-build commerce, and finance from scratch.