William Peets, who is an investment strategist, indicated on an extensively underestimating of the deflationary influence of Bitcoin and blockchain. In conversation with Real Vision Finance from October 30, he said that blockchain is a generational shift in technology with substantial consequences for the nowadays financial system. It’s recognizing is going very slow. https://youtu.be/NeQ70NM8Ufc Elimination macro disequilibrium As Peets said, finance is ready for destruction by crypto and blockchain. The application of the technology will eat the monopoly power of traditional financial services incumbents: “Security issuance, tokenization of real assets, trading of those assets, custody can be done more effectively with allocation ledger technology.” He emphasized one more time that a “huge part of the market” does not see the potential influence of such further change, as well as how quickly this alteration could occur. After 2008 he declared that the possibly deflationary effect of blockchain could be decisive to softening some of the worst dysfunctions of a debt-driven system, stating that: “What’s going on in the macro environment as it connected to backlog and the amount of debt that’s trading out and negative interest rates, it really starts to make you think about the temporary monetary system, and if that’s steady.” "the former Bank of England governor Mervyn King, who served from 2003 to 2013, has warned the world is “sleep walking” towards a second global financial crisis…." #Crypto @forbes https://t.co/utZ28MiOfW— #Crypto4freedom (@Crypto4Freedom_) October 29, 2019 Signal to be awaken According to previously reported information, analysts regard that even ahead of receiving widespread global traction, the very existence of private decentralized cryptocurrencies is already having a beneficial impact on the global financial sector. Private digital currencies serve as competition for local investment and in this way, constrain monetary policy, thereby generating lower inflation. “The world was “sleepwalking” into a financial crisis even worse than that of 2008.” – such words heard attendants from former Bank of England governor Mervyn King at the International Monetary Fund’s general meeting earlier this month.