What if Central Banks fork AnySwap?
One thing Fusionites have wondered for a long time, is if Fusion Foundation will ever capitalize on their technology through the licensing model. Where a license to use technology can be retained in exchange for use of the technology. I think there will come such a time, but it’s not soon. As most have already heard the European Central Bank have mentioned Fusion technology in a recent report. But why have they done this?
This story is about events that won’t happen in the near future. But, instead, 3–5 years in the future when many central banks are probably ready to roll out their CBDCs and crypto already has a “network of networks” where all of them can interact, and I’m postulating here that AnySwap will by this time already be the “main machine” powering all the connections and standard bridges of public blockchains.
So, how will they do it? Each CBDC will likely want to run on its own private blockchain, whether it is Corda, Hyperledger or an Ethereum fork or something entirely different, I don’t know. Perhaps each bank office will be running a node? It’ll probably differ from current cryptos in many senses. Wallets may not be entirely private, and you’ll likely need to do KYC to have one and if you’re a criminal that wallet could probably be wiped or blacklisted if ruled so by a court. Thus it won’t be as open and immutable as current public blockchains and for sure each central bank will have its own system that they want to control. This is good though, as it’ll still make the current crypto space a valuable and important alternative.
But given this, many of their current main problems will continue to exist. Like, how do these different CBDCs interact and can it be more efficient than SWIFT? How can cross-nation transactions be smooth or even work, given they all want their own system?
If nations can agree to at least use a similar standard in their implementations it’ll make things slightly easier, but maybe they can’t even do this. But the direct interactions between them still needs be handled somehow, but it needs to be a known entity or mechanism that all these banks and nations approve of (since they keep their power to block addresses, they could block an unapproved FOREX handled by anonymous nodes, if they wanted, for example). They’ll probably all want to be part of the custody control too, while leaving out anonymous nodes in whatever solution they pick (so likely not AnySwap, unfortunatly). Some nations might allow more freedom in FinTech development in interaction with their currencies, while others want more strict control. Regardless, their need for a common way to handle interactions between all of them will remain (like current SWIFT. I guess this is what Ripple wants to solve). But in finding that solution, they’ll likely be looking primarily in how public blockchains have already managed to solve this problem (and no, I don’t think they want to involve any crypto to solve liquidity between the currencies, sorry XRP. Liquidity isn’t the issue for these entities. They‘ll want a clean solution without involving a crypto).
By this time, if I’m right, AnySwap will still be the “main machine” of public blockchain interactions (right now that journey just started), and central banks will glance at AnySwap -specifically- and they’ll be looking to fork it. But they can’t simply fork it without permission, because it’s built with patented technology owned by the Fusion Foundation. So they’ll need a license. In fact, they’ll probably all need licenses. And even if they won’t need licenses due to the generosity of DJ Qian, they probably won’t mind holding a stake in the technology they’ll use. And even if they mind that, it will create one hell of a noise for both Fusion and AnySwap.
So hold tight to your $FSN and $ANY, it’s long-term investments that are slowly unfolding their greatness. Uniting the crypto-world is just the beginning. And at some point the world will stop ignoring it.
