Public confidence in money is the foundation of monetary and financial stability ensuring low and stable inflation with a well-functioning system. (BoE, Central Bank Digital Currency discussion paper 2020). The future of banking has arrived in the form of the virtual revolution underway. It has thus far targeted the middle men of business by removing their influence and mechanisms of profit, to offer significantly lower costs and enhanced opportunity for the customer. Banking is becoming more personalised and democratised unlike at any other point in history, now that anyone can remotely select the services they want and execute them at convenience. The bank as an institution has effectively become an app.
The role of central banks which manage the supply of money in order to encourage and maintain stability is gradually changing as the same role does not exist in a decentralised system or economy. The current hegemony and control by central banks is certain to diminish as digital currencies gain sway. Central banks straddle a role that is both as a middle man and enforcer of the regime backed by the nation state’s laws and statutes. As such they remain at risk of being displaced. In the short their role is vital in ensuring a smooth transition. Thereafter the role will need to evolve in order to remain relevant.

Banks have acted as keepers of records as well as objects of value, and in the virtual world there is nothing to keep. The role of central banks will naturally move more peripherally as facilitator and part time fireman rather than its current overarching role. The virtual world will still require real world intervention points for long term stability. These points still remain to be defined.

Digital or virtual currencies are potential solutions to existing and future issues related to money, trade, asset values, investments, savings and the general global economy. The age of fiat money per se, like gold before it, clearly expired and with it many of the guiding principles thereof. Progressive cyclical crashes of the fiat money system arising from flawed economic and monetary theories drove the global economy into the market crash of 2007-8, and together with it the quest for suitable replacement became even more urgent. Purists will argue, fiat is still a good thing and worth fixing. However, technological advancements offer opportunity even more detached from the real world of collapsible things. When money is defined by its utility and purpose then the virtual world is the next logical step in the evolution of stores of value and exchange. The history use of foodstuffs, hides and bones, ornate shells, mulberry tree bark, natural ores, coloured beads, precious stones, valuable metals, coloured paper reaches the climax with finally nothing at all.

Bitcoin, a digital trailblazer since its inception by Satoshi Nakamoto, may yet represent at best only part of the solution. Despite many high-profile competitors such as Ethereum, Litecoin amongst others, confidence in Bitcoin remains high. Despite the frequent large market fluctuations which suggests a market hope mixed with awe and fright in equal measure. It is clearly perceived as potential winner take all scenario. The quest for a more stable medium of exchange and storage of value remains on going. Thus-far, other virtual competitors have introduced solutions which mainly capitalise on the perceived flaws in Bitcoin. The blockchain trilemma, as per Vitalik Buterin, remains an interesting challenge and hence an important opportunity for innovation. 

The value of digital currencies to date has been largely conceptual. Globovist introduces its own particular solution to the problem, known as the Globovist Earth Security or G.E.S., a digital currency running on its own blockchain backed by a real-world relevance and a potentially life-saving one called the GES Earth defence system. G.E.S. bridges the perceived gap between gold or fiat currency and the virtual world. We believe it will provide the stability thus far absent from the digital currency space because it will have a real world investable and traceable asset of value, the Earth defence system. We are confident this significant advantage enables GES to move well ahead of the current digital money giants. 

The vision is to provide the best digital currency in the world by providing a secure means of addressing real world issues, providing asset security, promoting development; and for the first time for many, opportunity to grow independent wealth in disparate locations around the world. Our goal is simply to enrich and improve our world through securing the progress and aspirations of everyone by bringing the future to within reach. We believe that giving someone a chance can be a gamble but giving them an opportunity is a mutual investment. Globovist Earth Security, is one such opportunity. The founders are assembling a formidable development team to ensure the vision is realised. The digital currency will be built from the ground up and seek to leverage the experience and skills of the foremost in the industry. The virtual currency field remains as yet restricted to the participation of a select few and GES seeks to offer opportunity to many more through ensuring participation and representation. 

We are at a confluence of mostly new future-proof technologies, distinct to the smartphone revolution led by Apple’s iPhone. The iconic iPhone was crafted from a mixture of old and new. Artificial intelligence, machine learning, advanced biometrics, data analytics, nanotechnology and the internet of things which include humans as part of the machine are upon us. Harnessing the utility of each technology to selectively and safely build our world is a challenge. G.E.S aims to be sufficiently positioned to meet the challenge. 

Problem 1: Risks for Planet Earth  

• Cosmic bodies and man-made objects risk disrupting food production, water supplies and habitations
• Advanced technologies are more susceptible systemic collapse
• Absence of global plan of action
• Disruptive extinction events have occurred in the past

Problem 2: Declining performance in public projects. 

• Declining sources of funding
• Public sector project cost overruns
• Lagging national development
• Declining real ROI for Taxpayers

Problem 3: Money and Banking 

• Excessive personal data needed as proof of person
• Identified privacy concerns with banking security flaws (APP, Scams, Refunds)
• Deposits restricted or unavailable in economic crises
• High transaction costs for cross border trade
• Inefficient tax systems