The BIS is the central bank to central banks and is at the very heart of Technocracy. It's Technocrats have deemed open digital currencies to be anathema to the financial system; however, they are themselves working on their own digital currency where they will be the custodians of the blockchain.
China, the world's biggest and most established Technocracy, has all but achieved a totally cashless state by implementing digital e-payment systems via smart phones. Coupled with ubiquitous camera surveillance and identification, China will soon have its thumb on an electronic gulag from which there is no escape, relief or appeal.
Never underestimate the power of the global money cabal, which is most powerful and self-interested lobbying group in the world. They will not walk away from their monopoly, nor will they give up on their dream to create a new economic world order, aka Technocracy.
There are two key thoughts here: 1) blockchains will be centralized, not distributed and anonymous and 2) all central banks are involved. If central banks take this path, it spells the end of public crypto-currencies and the establishment of global Technocracy.
Finally, the global Green Economy (aka Sustainable Development or Technocracy) has been tied directly to the development of blockchain-based 'green' cryptocurrencies. From a pro-Technocracy point of view, this makes perfect sense. Until now, financing the transformation of the global economic system has been an undeclared mystery. TN predicts that green 'assets' of the world (heritage zones, nature conservancies, etc.) will be monetized by green cryptocurrencies.
Indians are mandated to link all their financial services to the national ID card, making surveillance ubiquitous with over 1 billion already signed up. India has already been described as a Technocracy, but this will certify it. Surveillance like this, as well a similar program in China, is coming to America soon, and then it will be too late to escape. You should now see why India was the first nation to drive cash out of circulation.
While some will say that the following article is somewhat speculative (TN included), how speculative is Bitcoin itself as people mortgage their homes to buy it? Regardless, the fact remains that the NSA did write a major paper on cryptocurrency a full 20 year ago, long before Bitcoin was formally released, and this is alarm enough that things are not as they appear.
The BIS is arguably the most powerful group of central bankers in the world, who collectively dominate the entire monetary system. Bloomberg rightly calls the BIS a 'bastion of global Technocracy." I think the world had better get a clue as to what this means before it's too late to do anything about it.
China has no understanding of Capitalism or Free Enterprise because it is a Technocracy that scientifically engineers their society. 'Ghost Cities' and 'Ghost Collateral go hand in hand, where the entire system is riding on thin air. The next global economic collapse will take China to the mat.
Moody's is now extorting cities to tow the line on climate change mitigation or face denial of credit access due to downgrades. Who got to Moody's? The planetary Fintech machine that is behind the surge toward global Technocracy! This is the epitome of Al Gore's famous statement that "Deniers deserve to be punished."