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2021-11-01 Reveals How Its System Replicates and Improves the Entire Global Financial System, and Why It Has No Competitors – the Global Telephony Company that created the world’s first Unitary Global Digital Currency and Global Clearing System – provides all external entities and persons with many thousands of products and services. It replicates the entire Global Financial System – in one entity

ST PETER PORT, Guernsey and NEW YORK, Nov. 01, 2021 (GLOBE NEWSWIRE) -- The reason why Global Telephony Provider’s (“WM’s”) System is not a competitor to existing products or services of other entities, is because it is not a product or service itself. It is a System.

A System has within it hundreds of products and services, and a facilitation mechanism for all entities and people to use all, or any, of the products and services either for themselves, or via which to create their own products or run their own businesses.

Another example of a System is the Global Telecommunications System, comprising an interconnected system of Cell Phone Towers, Underground and Undersea Fiber-Optic Cables, Satellite Links, Radio-Wave Bandwidth, Repeater Stations, Mobile and Landline Handsets and Telephones, Internet and Wi-Fi modems, and multiple other components – all of which are interconnected.

Its network and infrastructure enables all Telecommunications Companies, A2P Texting Companies, Payments Companies and others to create and structure their own companies, services, service-variations products, and product-offerings. All these companies make use of – and need – the existing Global telecommunications System to exist and to function.

It is one System, but its capacities facilitate and enable the formation of – and running of – hundreds of different businesses, and their creation of thousands of product and service types. All these hundreds of businesses and thousands of product types working off it, are able to function because of - the single Global Telecommunications System, its infrastructure and network.

As such, the Telecommunications System does not have competitor products of services. The commercial entities using it to function and to provide their services compete among and between themselves, but they all use the same system to do so, and they do not – and cannot – compete against it. They require it to exist.

Another example of a System – albeit a severely fractured and disparate system in terms of components – is the existing Legacy Global Financial System. It comprises all Mediums of Exchange (cash, digital money and other Stores of Value), and the multiple components and facilities needed to Create + Recognize + Exchange + Accept + Transfer + Receive + Store + Convert + Structure + Value + Store + Administer + Record + implement other functions and requirements for these Mediums of Exchange, on National, International and Global bases.

All people and businesses use the Global Financial System for all types of transactions that exist.

All companies and entities providing any products and services of any nature utilize the interconnections, networks and infrastructure of the Global Financial System to create or run their businesses – and provide their products or services. They do not compete against the Global Financial System – because they cannot. It is the basis for their businesses to exist and function, and they function because they have access to this System.

WM’s System is a Global Telecommunications and Financial System – not a single product or service.

WM’s System has within it all components of an entire Global Financial System, and every transaction type that exists in respect of such a system. It also comprises all Mediums of Exchange (cash, digital money and other Stores of Value), and the multiple components and facilities needed to Create + Recognize + Exchange + Accept + Transfer + Receive + Store + Convert + Structure + Value + Store + Administer + Record + implement other functions and requirements for these Mediums of Exchange, on National, International and Global bases.

The Primary Differences between WM’s 21st Century Global System and the current Legacy Global Financial System are as follow:

  • WM’s System is a Telephony System, which has, by use of an Artificial Intelligence Complex Adaptive System, enabled its Telephony Components to acquire Dual-Use capacity, and be used as replacements for the current Components within the Global Financial System.

  • Whereas the current Legacy Global Financial System is comprised of several thousand entities all having to function together in disparate ways with disparate standards and systems to create that system, the WM System replicates every single component of the entire Global Financial System in, and from, one entity. This brings about global uniformity of standards, processes and sub-systems, and facilitates much more rapid, much more secure and much lower costs replacements and alternatives for every transaction type that exists. The scope of transaction types is limited only by the knowledge and experience of the persons or entities using the WM System.

  • Whereas the current Legacy Global Financial System is only accessible to, and by, entities – which are positioned as blocking intermediaries between private citizens and the System, the WM System provides equal access to its System to private citizens (who are WM or VSMP Members) and entities alike – with no intermediation.

  • Both the current Legacy Financial System and the WM System enable and facilitate the creation and functioning of every one of the many thousands of products and services of all companies and entities in this sector.

  • The difference between the two Systems is that the Legacy Financial System functions according to a (primarily) 19th Century approach and 20th Century components that has combinations of thousands of entities to function, while WM’s System functions according to a 21st Century approach and with 21st Century components and provides the entire System from – and within – WM as one entity. These 21st Century Components also enable a far wider scope of products and services (such as Globally-Valid Digital Currencies), and Global 24/7/365 functionality. They create and facilitate many hundreds of other products and services – or the possibility for external companies to create many hundreds of other products and services – that are physically and permanently impossible for the current Legacy Global Financial System to create or facilitate.

This is why – although the WM System provides private citizens (who are Members of WM or its VSMPs) to utilize the System directly, it is not a competitor to existing companies or entities in any of the sectors that function from – or utilize – any aspect of the current Legacy Global Financial System.

This is because external entities cannot compete with – or against – the System that they require to function or exist as businesses. They simply utilize the facilities and the capacities the system provides them access to, in order to fashion or structure their own specific and unique product or service offerings, and they then compete among and between themselves.

This is why WM adopts a neutral and non-aligned stance towards all external entities. Because it is the source of all of their capacity to do business - they must therefore all be treated equally, without fear or favor, and allowed to progress their own business types as best they can.

If external entities wish to acquire WM Affiliates (VSMPs) as part of their business activities using WM’s System – they can do so at zero cost. However, it is by no means necessary for any external entity to acquire a VSMP in order to use all the WM facilities and possibilities to run – or create – their own businesses, products or services from it. They can do so simply by joining as Members, because all persons and entities have access to the same WM facilities and capabilities once they are Members.

Moreover, WM was purpose-built. This means the exact and complete end-requirements were identified before the WM System and Platform were created. Therefore, they were created to function in specific ways to efficiently, robustly achieve and carry out, specific end objectives and services, in specific ways.

One of these objectives was to enable any external entities that wanted to carry out their business in a segregated manner to be able to do so away from all other members of the WM System – but to still be within the Closed-Loop Members-Only ecosystem of WM.

To achieve and provide this possibility, the WM System was built to include the infrastructure to enable and support what are known as “Closed and Restricted” sub-systems within the WM Closed-Loop Members-Only ecosystem. These “Closed and Restricted” sub-systems allow external entities to acquire replicas of the entire WM System – that have access to and function from - WM’s Global System. However, the member-base of their “Closed and Restricted” sub-systems are restricted only to those entities, and to whichever people and entities they choose to give access to. Only those persons and/or entities nominated by them (and as controlled by them in their sub-systems), can access and utilize whichever products or services they use the WM System to create or provide.

To illustrate some aspects of the WM System’s capacities, below are extracts from the five Research Papers on the WM System, authored by Professor Jan Kregel of the Levy Economics Institute, after over a year of reviewing the system:

The Economic Problem: From Barter to Commodity Money to Electronic Money
… to replace money with a new technology-based system there is only one system that provides this possibility. (WM) is the only currently operating system that meets this condition because it plays the role of the bookkeeper of an alternative settlement system.
Professor Jan Kregel, Levy Economics Institute, January 2021

Keynes’s Clearing Union is Alive and Well and Living in your Mobile Phone
WM provides the clearing house mechanism for global transactions in any currency, carried out in 1/100th of a second, at any time from anywhere in the world at zero cost. it provides the equivalent of a 100 percent reserved regulated deposit banking system, something that a fractional-reserve-based private banking system cannot provide.
Professor Jan Kregel, Levy Economics Institute, January 2021

Another Bretton Woods Reform Moment: Let Us Look Seriously at the Clearing Union
Författare GlobeNewswire