The Real Problems Being Solved Behind Cryptocurrencies

By way of a change this week, we are going to look at the technical analysis and charts we usually show, to see what lies behind cryptocurrencies, and explain why we think that not only are they here to stay, but why they will become an essential part of all our futures – along with artificial intelligence, data analysis, self-driving vehicles, and the internet of things.

Nobody knew, when Bill Gates put MS-DOS (Microsoft Desk Operating System) together, that it would become the giant worldwide game-changer that it has – Ditto, Steve Jobs with Apple’s equivalent.

This is where we are with cryptos right now. Sadly, most “investors” are looking short term, at just the money, the profit, and the short-term gains – but this is – we believe – just the beginning.

The “blockchain” (the MS-DOS behind the headlines) will be a game changer, in whatever form it ultimately takes – and whatever vehicle it uses to do it’s thing.

Let’s use a real example …

We all eat. The majority of us eat meat. Now, because industrialized farming is the only way to produce enough meat products to meet demand, a massive network of producers, slaughtering facilities, packing and distribution systems, and storage depots, have grown to cater to the meat industry. Because of its size, accountability – and more importantly, traceability – of meat has become an important issue when batches of meat are found to be contaminated, or unfit for human consumption, for some reason.

When this happens, the supply chain needs to be shut down quickly, and the source of the problem, traced so that remedial measures can be taken. This is a major problem. Each year bad food (not just meat) means one in ten people being ill, 700 million people in the hospital for treatment, and 400,000 deaths – mostly in children under age 5. The cost, to the US economy, alone, of illness because of food problems, is £55.5 billion.

There are many reasons for the problems with our food. One is the misuse of antibiotics in farming – used to promote growth, as well as preventing infection, routine use of antibiotics has led to the advent of antibiotic-resistant “superbugs” which cause serious issues.

Britain has seen several scandals in the past few weeks with food suppliers  – serious safety issues in some of its largest meat processing plants – those which produce and pack for supermarket chains and restaurant and catering groups. Despite squads of food safety inspectors, tasked with policing worldwide food sources – there are simply too many loopholes for the current systems to cope with.

TE-FOOD, (TFOOD), Ambrosus (AMB), Modum (MOD),Provenance, WaBi (WABI) and Walton (WTC) are all developing and using (in TE_FOODs case) a combination of Ethereum blockchain technology, for public transparency, and a private blockchain, for administration purposes. These systems will aid food safety, prevent antimicrobial resistance, and the misuse of antibiotics, reduce economic inequality, migration caused by climate change, frauds and scams within the food supply chains, leveling of the “subsidy” playing fields.

With recent scares of horse meat masquerading as beef, it is not just the food industry that is susceptible – the world is awash with counterfeit goods. If this is a Gucci handbag, then it is just a trademark and copyright issue. Increasingly though, scares have involved a much wider range of goods – brake pads, and tires, for cars; aircraft parts, drugs and medicines, shampoos and cosmetics, toys, baby milk, electronic devices, and other goods which rely on a set of regulations and standards to ensure public safety.

The blockchain technology to introduce transparency, at each and every stage in these products and services journey to the consumer, has only just been drafted. Cutting edge technology takes time, money and determination – not to mention some of the smartest people in the world. We are at the MS-DOS stage.

If you are looking for a long-term investment strategy – get involved with crypto – find out all about it (not just Bitcoin) – buy some – and cling on for dear life!

Noble Gold specializes in IRAs and 401(k) rollovers through precious metals and cryptocurrencies investments.