Salaam! Waheguru. Recently there was a major development in the world of cryptocurrency and blockchain. A large Korean bank named JB is now allowing mom and pop liquor store owners to walk into bank branches with cryptocurrency and walk out with cold hard cash because of new program which uses Bitcoin as bank collateral for loans.
How is this different from Chase Bank?
Other banks do not allow mom and pop commercial businesses to use Btc as collateral. Other banks only allow that for hedge funds or sovereign wealth funds, major whales. One cannot walk into a Chase branch with Btc and walk out with cash like at JB. So, we think this is a major development in the world of finance and expect all banks to follow soon depending on their domicile.
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The JB program uses 0.45 Ltv or so as we see in the ensample code. This technique, a grand master maneuver used by JB in Korea, can be used across Africa and the Middle East because cryptocurrency is fully Sharia compliant.
How does this Korean development in the headlines relate to coders and scripters?
This is the final crack in the dam. Now comes the flood of cryptocurrency jobs for coders. It is good to learn about tokenomics as a coder, find out about Polkadot, know all about Monero. Cryptocurrency is an automated wealth generator and is the next big thing, more popular than Jesus.
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At our NA meetings we hear often: Why crypto ya'll? We understand blockchain. We love blockchain. But crypto makes no sense, our Ai said it is a scam! Now pass the coffee!
How can one respond to such a trifling NA member? One simple solution is to simply to the simpleton this story:
Once upon a time there was a mighty kingdom called Palestine. Or Phillistine if you prefer. In the kingdom were three brothers and they held a feast for Ramadan. At the feast they made wine from water using fruit. It was for animal medicinal wine. Like for a sick pet rattlesnake. Also, there was a competition to see which brother was the best in all of Palestine at his technology. The first brother was a cuisine expert. Some coffee was brought forth and everyone enjoyed it except Raj. He scrunched his face and nearly vomited saying, "This smells like dead rotting bodies. Worst coffee ever!!" Investigations were made and the coffee plantation is located next to a crematorium. This impressed the judges. The next brother was served rubus leaf suntea and he nearly passed out. When they asked him what was wrong he said the smell of dead animals overwhelmed him. He pointed to the waitress and said she stank like sheep blood. The waitress admitted that she was raised on a farm and did eat meat as a child. This revelation turned many heads and quite a few stomachs.
The third mighty Palestinian brother was a coder. After the feast they made afine bed for the coder and he had 7 matresses. However in the middle of the night he howled in pain and the mansion was thrust into an uproar. He had a deep mark on his leg!! It was as if a ghost, perhaps the Holy Ghost, had slashed him. Investigations were made and a hair was found under the 6th mattress. So, which brother was the most expert? The cuisine expert, the human relations / staffing expert? Or the coding expert?? Which won the contest and was voted as ichiban #1 expert and life of the party?
Answer: Not the first brother. He might have known ahead of time where the coffee came from. Not the second brother because he might have known about the waitress and her nasty past. The third brother, the Linux coder is most expert! Because, the Linux coder showed proof, evidence. Cryptocurrency is like that, it fights counterfeits and reveals Linux's advantages in scripting.
Let us all learn from JB Bank and salute their prowess! Next: Singapore and Switzerland. Then, the Sekai!!
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