GSA Business has published an article stating that whichever candidate wins the presidency, banks are hoping for relief from the regulatory oversite they have been subject to over the last 8 years since banking malfeasance let us into a near-catastrophic economic recession – the effects of which we have not yet really recovered from – and a repeat of which seems as likely as not in the near future.

The banks for their part blame the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Consumer Protection Financial Bureau. From this act and this entity, the banks cry that they have been subjected to a lot of unnecessary paperwork, and that the penalties for miss-filling in forms is exorbitant.

I am sure that these same banks treat all their customers with the utmost of care and overlook mistakes and lapses as part of human nature. But I jest. Of course these self-same banks exploit the human weaknesses and of their customers as a way to profit – hitting them up for fees, foreclosing on properties (even when they don’t have the paperwork giving them the legal right to do so), and exploiting every opportunity to funnel money from their victim clientele to their own overstuffed pockets.

The banks are right on one point – the rules need to be clear and the penalties need to be just. One way to do that would be to break up these banking behemoths into their constituent parts. Make consumer banking units just that – banks focused on helping people save, pay a small but significant interest on money held in accounts, and use the money from those accounts to make home, car, and business loans. Make investment banks just that – high risk investment vehicles for large investors.

And while we’re at it, let’s change one more thing – remove the legal imperative that corporations make a profit for investors above all, and require all companies to contribute productively to the community – a imperative they could fulfill by improving the quality of life of their employees, by creating a clean and livable environment, by ensuring ethical and honest government. And if companies are caught working against the good of the community, impose the corporate death penalty (Yes, that’s a real thing, though not used for many years).

Dreaming? Yes. But great change can begin with a dream.

In the end, our dream at Bitcoin Warrior is to continue the trend towards decentralization that was begun by the internet. Free, cheap access to information has been transforming our world in ways that could barely have been conceived fifty years ago. Bitcoin opens the promise to decentralize money – returning to the people the ability to control our own finances without the interference of a middleman. After, or along, with the decentralization of money, will come the decentralization of companies, organizations, and finally, government.

In the future, all work, money, and politics will indeed be local, but networked globally, utilizing the wisdom of the crowd for the benefit of us all.

Let’s dream together.

Image courtesy of PixaBay