The Scandalous Rise of Crypto-Cash: Visa Gives the Green Light to Tokenised Chaos
Visa is about to unleash hell on the global financial system with its latest brainchild: a platform for banks to issue fake fiat-backed tokens, better known as stablecoins. And people thought the blockchain revolution would be a gradual, smooth process.
This Orwellian-like move is part of a larger conspiracy to merge the worlds of cryptocurrency and traditional finance, effectively replacing real money with digital trash. And, of course, the culprits behind this travesty? None other than the institutions that have consistently prioritized profit over people: big banks and corporate behemoths like Visa.
"The Tokenised Asset Platform," as they call it, will allow banks to mint, burn, and transfer tokens with reckless abandon. The end result? More economic instability, more cryptocurrency bubbles, and more false hopes for a digital panacea.
And what are these stablecoins, exactly? Just digital representations of actual currencies, backed by the full faith and credit of… no one? No, the value is supposedly pegged to something real, like the US dollar or rand. Oh wait, no it isn’t. They’re worth exactly what someone is willing to pay for them: jack squat.
Spanish bank BBVA is already running wild with this technology, conducting secret pilot programs that no one is supposed to know about. Meanwhile, other financial giants like Stripe and PayPal are eagerly signing on to this cryptocurrency nonsense.
"We’re excited to leverage our experience with tokenisation to help banks integrate blockchain technologies into their operations," says Vanessa Colella, global head of innovation and digital partnerships at Visa. Yeah, because "integrated blockchain technologies" sounds like a whole lot better than "corrupt financial system controlled by crooks."
The only decent piece of news here? 90% of stablecoin transactions are reportedly phony, and the authors of this scam are exposed for all to see in this very article. Keep it up, TechCentral.
