I Think Bitcoin Is Working
Think back at the past up until now, in any economy or business, there are two entities always exist: the payers (people who give their money) and the payees (people who receive the money.) For instance, you go to the bank and deposit your money. The bank then uses that money to lend other people (with interest of course.) Or when you work for a company and they pay you back based on the money they earn from their customers/clients (payers.) But there are a lot of bad things happen that damage or destroy this payers-payees relationship, mostly because of the third parties (the bank or the company.) They have too much power over the money that goes between the payers and payees and take advantage of that. Why do I need to give you these detailed examples? Because it is very important that you understand the core relationship between payers and payees. If you have read carefully and understood, we shall move on to the next section.
We ask ourselves once again: What is the social financial network? Well. The social financial network is an investment-development model that has been around for a while. It focuses on the relationship between payers and payees. In the Network (we shall call it simply the Network from here on,) the payers and payees are the main “actors.” One side sends the money, the other side receives that money. That is it! Third parties do exist but they do not have that much power or control over the money running between payers and payees. They merely observe, referee or authenticate transactions, nothing more nothing less. MMM Global is a popular examples of third parties of the Network (you probably have heard about them before.)
The Network is not super complex in comparison to other business or investment models. However, I need to explain specifically many details and concepts so that you, the readers, can truly understand. Thus in this section, I will divide it into two parts: The basic (if you just want to know how to participate and get interest in the Network) and the insight (if you want to know how the Network runs and more details about its nature.)
a. The basic
The Network has a lot of platforms around the world. These platforms are hosted by third parties (groups or organizations) globally or locally but the rule still stands: They don’t keep the money of the senders or receivers. The third parties will impose regulations and principles on the platforms they host. Regardless, those things do not change the Network’s model and concepts.
The Network has two entities: the payers and the payees. The payers stay in the PH (Provide Help) room and the payees stay in the (Get Help) room. The financial relationship between PH and GH rooms will create a money loop. Also, the payers and payees can change their roles (if they like of course) to help keep the model up and running. Because as long as there are payers and payees and the money still flowing, the Network platforms will survive and continue to benefit the participants.
b. The insight
The Network platforms are operated by two common methods: manual and automatic. Let talk about manual method first.
With manual method, the information regarding the transactions, the payers/payees is not protected and stored poorly. When a transaction happens, the process is utterly painful as the payers cannot see where their money is going to and the payees need to check their phone, computer constantly to get notification. The payees then proceed to confirm it. After the confirmation, the payers now can see who their payees are.
As you would imagine, the clunkiness and primitive procedures will just attract a very small number of participants which means the platform shall not last very long. Furthermore, the third parties can use the regulations they imposed to steal all the money that goes in between. These manual Network platforms are often local and hosted by anonymous individuals or organizations. The risk of investment into the manual platforms is sky-high and extremely not recommended.
With automatic method, all of the participants and transaction information are protected and properly stored on live servers. Participants can log in the host parties’ websites and track their wallet, interest rate, etc pain-free. Using cutting edge technology and computer prowess, the transaction process is smooth (it immediately find the appropriate payees when a payers send their money via smart build-in algorithms), secured and transparent as it can be seen any times on the websites (all of these traits are common in automatic method but that does not mean all third parties using automatic systems employ them.) There are anti-cheat systems in place to prevent participants from outplaying security protocols. Imposed regulations and rules are well structured, and make sense to ensure fair game (as oppose to an afterthought like in the manual method.)
The service quality speaks for itself. The automatic method beats the manual one in all aspects. Only Bitkingdom and a handful of other Network third parties use the automatic method. However, not many of them survive due to either the lack of popularity or incompetent severs security. Bitkingdom by far is the biggest and most popular in the world.
Money scams are difficult to pull off. The security systems third parties specially develop are to deal with those sorts of activities. As for the chance the third parties would run away with the participants’ money is slim since everything is processed by computers and technology. Even if they do choose to tricks their members, they cannot get much out of them. Investment in large platforms hosted by trustworthy third parties is recommended.
We build the real value!
Drop us a line or give us a ring. We love to hear about you!