© Kariappa Bheemaiah  2017

Kariappa Bheemaiah, The Blockchain Alternative, 10.1007/978-1-4842-2674-2_2

2. Fragmentation of Finance

Kariappa Bheemaiah

(1)Paris, Paris, France

Since the advent of the crisis, two stark realities were brought to the forefront of public discourse. First, banks were allowed to have such an impact on the economy due to their enormous size and influence. Second, they have diverged from the general definition of democracy owing to the concentration of power that comes from the centralization of information and the opaqueness of their operations.

Having seen how debt and money are created in the modern financial system , the question that needs to be answered is “How were banking and financial institutions allowed to grow ...

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