Since the release of the Bitcoin whitepaper, the notion of decentralization has become a hot topic of discussion. The idea of economic decentralization far predates the genius of Satoshi Nakamoto’ original vision.
Arguably, one of the first systems of financial decentralization began in Scotland in 1761. A group of fifteen weavers from a small town signed a formal agreement declaring to be ‘honest and faithful’ to each other. This notion of unanimous trust quickly led to the initiation of social banking, premising the first-ever economic union. Within the following years, the model expanded to offer an internal distribution of surplus resources to union members, in similitude of modern-day dividends.
Banking has been revolutionised since the 18th-century weavers sharing yarn and oatmeal, where, social trust has been moving towards a centralized body; however, in today’s age of cryptocurrency, blockchain technology has opened the doors for decentralized banking, unanimous trust and a fair distribution of resources.
This is exactly what Ø Crypto Union does! Ø brings together a society of members, all of whom share the same financial goals and values, pooling together their crypto assets through securitized tokens, and in doing so, becoming co-owners of the cooperative.
As the world’s first crypto union, Ø utilizes blockchain technology to offer efficiency, security and transparency by way of its social structure. By extension, Ø ensures that all generated and surplus resources will be utilized in the financial interest of its members. Ø is eclipsing the traditional way of banking.
Join us and find more information on ocryptounion.io