Operates completely independently from the existing “centralized” banking and ends the “Central Banking System” that perpetuates “Debt Slavery” around the world.
Even though it is the ultimate in design, reliability, security and safety, the roll-out process will occur over time.
The QFS operates on a Distributed Ledger Technology. It is NOT crypto currency or Blockchain technology.
Quantum Qubits “interact” with every financial transaction anywhere in the world of finance to ensure that each transaction is legal, owner-intended and transparent.
Since Central Banks do not have the ability to “reconcile” old FIAT (paper) money into the new QFS system, all fractional reserve banking and central banking activities will cease.
Every sovereign currency and every bank represents a separate Ledger in QFS.
Data on all account holders, at all banks, in all 209 participating countries was downloaded into QFS in March 2017 and serves as a “Distributed Ledger”.
The QFS is designed for and ready to convert ALL bank accounts denominated in any Fiat currency anywhere in the world into a local asset-backed currency.
The QFS pings the originating Fiat currency bank account to ensure it is still valid, active, and operational at the time the exchange of fiat currency for asset-backed currency takes effect.
After the successful ping of a local bank account, the fiat currency holdings are converted into the new local asset-backed currency on a 1:1 basis.
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