Mile Unity Foundation exists to expand global equal access to fast, free, and fair financial tools for cross-border trade, investments, and money remittance. MUF Board Member and spokesman George Goognin explains how blockchain technology is poised to disrupt and democratize global finance.

Mile Unity Foundation is not the owner or author of the Mile blockchain. Rather, it’s an educational nonprofit evangelizing equal access to fast, fair, and free financial tools using the blockchain. George explains how Mile and XDR run on the blockchain to create a stable online currency built for real-world transactions.

Developing markets offer huge profits but also high risks for investors because they lack transparency and guarantees such as those offered by the Federal Deposit Insurance Corporation in the United States. George explains how blockchain technologies will inject confidence and transparency in world markets, spurring investment.

MUF is working to give 3 billion people in developing countries of Africa, Asia, India, and Latin America access to fast, free, and fair financial tools. George explains how Mile will boost business and entrepreneurship in countries where extremely high interest rates now make business loans prohibitively expensive.

MUF recently became an official partner of the groundbreaking One Belt, One Road project of China, which calls for massive investment and development of trade routes in the region. George explains how this initiative fits with MUF’s mission to expand equal access to fast, free, and fair financial tools.

Half the global population lives in countries that are under economic sanctions. Blockchain tools such as XDR help spur economic growth by allowing businesses in such nations to make “multilateral offsetting”between nations where trade with fiat currencies is prohibited, facilitating the exchange of goods and services regardless of political sanctions.

Until now, extreme volatility has hindered widespread adoption of digital currencies for real world transactions, making them a plaything for investors seeking to get rich quick. George explains how XDR is built “not for pumps and dumps in exchanges” but for cross-border trading, investments, and remittance in the real world.

In African nations people are already using mobile digital currency due to lack of banks. George explains how providing people in developing nations with digital IDs will allow them to be connected and grow the global economy in the process.

Blockchain is about creating the worlds of machines living parallel to the human world and co-working with humans, George says. He discusses how robots could use the technology. "Imagine your housekeeping robot has earned or minted some coins, then automatically sent them to the factory, and they will produce the new 'baby-housekeeper' robot. Voilà! Robotscan reproduce themselves!” Should we be worried this will lead to an artificial intelligence “singularity”? George shares his view.

Capitalism has not produced financial stability: regular crises are built into the nature of central banks and the economy of debt. Nor has it produced happiness: half of the world's population lives in extreme poverty, more than 45 percent are forced to run a rat race to provide for themselves, and less than 5 percent have $1 million or more in assets. George discusses how we can utilize new technologies to allow almost free provision of the minimum required set of basic resources (energy, water, food, housing) anywhere in the world and create the multipolar economy with a new set of KPIs: public good, ecology and long-term sustainable quality development.

Today's banks have positive and negative qualities. Positives include liquidity accumulation and redistribution. On the negative side, too much regulation leads to obsolescence and impotence; shareholder profits and huge top management salaries pile on extra costs; and lack of cross-border reputation ledgers and deep information about budgets and plans leads to overestimation of risk and high interest rates. George discusses how cooperative cash pools and international non-profit foundations can deliver a moneyless economy – one where people can earn reputation to use as access to global universal lines of credit, solve money shortages, and turn from running a rat race to solving social issues.

Stable coins have been called the "Holy Grail" of cryptocurrency due to their high degree of user control and minimized volatility. George explains advantages of the Mile blockchain, including how it provides 10,000 transactions per second with coins delivered in 20 seconds, compared to seven TPC and hours to deliver for bitcoin. Mile also allows for free transactions, doesn't require expensive ASIC miners with huge energy consumption, and allows a master node at the basic $10/month server. All of that became possible due to the unique consensus algorithm: sdBFT.