The Technology That’s Revolutionizing Everything, Part I

If you didn’t know, the U.S. government owns the largest digital money network in the world.

It’s called Fedwire, and it’s absolutely massive. In 2020 alone, Fedwire processed more than $840 trillion worth of transactions.

To put that number in perspective, the United States has a GDP of $21 trillion. Meaning Fedwire processes about as much money in a week as the entire U.S. economy generates in a year.

And that monster digital network could get an overhaul that completely changes the way it works.

You see, there’s a new technology that has been developed in the last few years.

It’s called the “blockchain.”

This isn’t like a new gadget or a social network.

This is a fundamental shift in how communication, transactions, and many other industries function.

The Economist magazine predicts blockchain technology will quickly “transform how the economy works.”

Analysts at investment bank Goldman Sachs have said the blockchain is going to “change… everything.”

For the moment, the blockchain is still in its infancy. The overall market for blockchain technology is valued at roughly $2 billion. Some experts are convinced that it will grow to $40 billion within the next 10 years.

Now, back to the Federal Reserve…

People at the highest levels of government finance are already talking about how a blockchain-based government-sponsored cryptocurrency would work.

They’re calling it “Fedcoin.”

According to writer David Andolfatto, Fedcoin would be a completely new, all-digital blockchain-based currency that the U.S. government could use to replace the dollar we know and use today.

And Andolfatto isn’t your typical reporter… He’s vice president of the Research Division at the Federal Reserve Bank of St. Louis. If you visit his blog, he says you shouldn’t associate his posts with his role as a Fed officer. But he has been blunt and forthcoming about what Fedcoin looks like and is very vocal about why the adoption of Fedcoin would be such a good thing for the country – and for central banks.

And his personal blog isn’t the only place he has spoken publicly about this huge potential change to our money.

He has given dozens of speeches about Fedcoin at digital currency conferences and promoted the idea in Newsweek magazine.

What happens with Fedcoin in the near future is hard to tell. The government doesn’t always make obvious decisions, although some Federal Reserve officials have hinted at how Fedcoin would work.

But consider just the potential of a technology that could replace cash. It’s a technology so secure that the Federal Reserve is exploring converting to cash – or at the very least, revamping Fedwire so that it uses this blockchain technology.

That alone would be a big change. Fedwire has been operating with more or less the same technology since the 1970s.

But obviously abandoning physical money would be a titanic shift. Cash has been the main method for transferring value for 3,000 years (if you start counting from the first standardized coins).

Now the blockchain could replace all of it.

The blockchain today could be like the industrial revolution, railroads, computers, or the Internet before they changed the way the world works.

If you understand the blockchain and its implications, it can be remarkably profitable. A select few companies will have the expertise and resources to build and integrate blockchain technology into our financial system… and so many other parts of the economy.

Here’s what’s happening…

The Internet has changed our lives, but it’s fundamentally limited.

You see, the Internet can send information back and forth, but that’s about it.

To be more correct, the Internet can send copies of information. If I send you a report or a picture, now you’ve got a copy of it and I still have my own copy of it.

That’s great for sharing all kinds of information… but it has its limits.

The blockchain will expand the capabilities of technology to a whole new level.

The blockchain allows you to digitally send actual value, not just copies of information. You don’t send just information or a copy or a link to something. You can send the actual thing.

This may be a little heady, but that’s because it’s such a fundamental difference in how things work.

When you use the blockchain to send some kind of digital dollar or Fedcoin, the ownership of that item goes with it. It’s not held by some bank or government somewhere. It now belongs to you, and you can prove it doesn’t belong to anyone else and that the information is valid.

So what does this mean? The implications of this slight change in how we can send things and track information across the Internet can change everything. And we can say that without hyperbole or exaggeration.

The blockchain has the ability to upend our entire economy and nearly every industry within it.

Most folks won’t take the time to understand this technology, its implications, or the investment potential. That’s their loss.

Tomorrow, we’ll show you how this new technology can be deployed into all sorts of real-world applications… and no, we’re not talking about bitcoin.

In the meantime, don’t miss a special briefing TONIGHT from our in-house cryptocurrency expert Eric Wade. Eric has found an opportunity that’s bigger than bitcoin and lets you take advantage of the most important (and profitable) disruption in the history of the crypto world.

Click here to reserve your spot – it’s completely free!

What We’re Reading

Here’s to our health, wealth, and a great retirement,

Dr. David Eifrig and the Health & Wealth Bulletin Research Team
July 21, 2021