Take the power back and be your own bank with cryptocurrency

One of the most powerful concepts, which once understood, will help convince people to begin using cryptocurrency is that you can be your own bank.

Using banks: great for them, terrible for us

Take a moment to think about how ridiculous the voluntary arrangement you have with your bank is. You entrust your hard-earned money with your bank by depositing it with them. Thanks to the fractional reserve system (the biggest scam in human history) your bank holds a small fraction of what you deposit and turns around and lends it out to others who need credit for a massive profit in the form of interest, which you get no cut of.

Your bank also imposes limits on what you can deposit and withdraw for your own “safety”, which can be immensely inconvenient depending on your situation. Other negatives include travel limitations for your “safety” and a host of fees including but not limited to monthly maintenance, overdrafts, international payments, ATM, card replacement, early withdrawal, etc.

Bank runs and capital controls

With all these negatives out of the way, I’d like to focus on the biggest risk and most terrifying possibility for any bank account holder – the “bank run”. A lot of the people i’ve personally talked to about the concept of “be your own bank” seem to be under the impression that bank runs are a thing of the past.Bank Run

Well-developed central banking systems and deposit insurance have no protections against a bank run. In fact, if all the deposits in U.S. banks were simultaneously requested to be withdrawn, it would take an estimated 20+ years for the U.S. just to print all this digital money that doesn’t actually exist as paper currency.

And for those who may be under the impression that bank runs and capital controls are a thing of the past, you need to think no further back than to the latest 3 examples, all within the past 5 years.

  1. Cyprus in 2013
  2. Greece in 2015
  3. India in 2016

US and other economic superpowers not immune

It’s important to note that more developed countries like the U.S. are in no way immune to this. The fact of the matter stands that when people want physical cash, banks will have a huge problem and they will be absolutely unable to facilitate even a small portion of these withdrawals.

Why is Bitcoin better?

Reviewing all the negatives about using banks sheds a bright light on the stark contrast between using banks and using bitcoin.

Bitcoin shares none of the negatives of bank accounts and at the same time incentivizes users much better to “deposit” (or hold) bitcoin. Bitcoin provides users with security. Sending and receiving bitcoin is easy and has no limits or extra fees aside from the transaction fees used to compensate miners for securing the network.

Bitcoin’s value is also very attractive in the middle of this low to negative interest rate environment. While interest rates are at historic lows, Bitcoin’s likelihood to continue growing increasing in price over time is much more attractive than interest payments that don’t even match the inflation rate. 

Bitcoin is also extremely portable. It’s easy to store on anything from hardware wallets to paper wallets, and even brain wallets. Yes, with the advent of bitcoin we have for the first time in human history the ability to store our wealth in our brains. Simply memorize your private key and hope that you don’t suffer from amnesia down the line (pro-tip: always back up your private key somewhere!).

Power to the people: BYOB (Be Your Own Bank)

Banks are worried about Bitcoin because it’s a serious threat to their current power structure. For a number of reasons, Bitcoin and other cryptocurrencies could make them entirely obsolete. Since Bitcoin has no liabilities or debts associated with it, it’s truly yours when you hold it. This type of asset is known as a “bearer instrument”.

There can never be a run on the “bitcoin bank”. Therefore, the biggest risk (a bank run – which is highly likely to happen again) is entirely absent from bitcoin. This is a huge reason that Bitcoin is superior. This is also why you should seriously consider BYOB’ing with Bitcoin and cryptocurrency. Be Your Own Bank!

Printing your own money is optional

Another major factor in favor of being your own bank with crypto is the ability to “print” (otherwise known as “mine”) your own coins.

Bitcoin and other major cryptocurrencies have a limited supply and pre-defined parameters for issuing the bitcoin currency which is created through mining. Unlike central banks, where a small centralized group of bankers entirely controls the issuance of the currency, the bitcoin code was written to continue issuing the precious cryptocurrency to miners until 2140.

Although Bitcoin mining is very competitive at this point and requires serious start-up costs, expensive mining equipment, and high energy expenditures, there are many other options for “money printing” in the cryptocurrency world. A couple of these options include GPU mining and holding PoS coins in wallets.

Summing up the benefits of Bitcoin over banks

Bitcoin has all the benefits of banking and more without the risk of capital controls. This is the main reason Bitcoin has grown so much in recent years, and continues siphoning value out of national currencies. All this is being done with Bitcoin’s main use case as a store of value and speculative investment vehicle. It has yet to reach any level of mass adoption to be excited about.

If you ask me, it’s a no-brainer to use Bitcoin and other cryptocurrencies over traditional banks. Either A) you hold your wealth in an institution that might never allow you to withdraw it when you need it the most and lose value in the form of inflation, or B) you hold your wealth in cryptocurrencies and benefit from better incentives and almost certainly increase the value of your holdings in comparison with fiat currency.

The choice is yours. Hold On for Dear Life.

CIBUS Blockchain for Food Supply Chain

A Revolutionary Food Ecosystem is being built on the CIBUS Blockchain for Food Supply Chain

CIBUS aims to become a Trusted Food & Dietary Supplements Ecosystem on Blockchain, Empowering Consumers with
Transparency, Safety & Traceability at Lower Cost


To bring trust back into Food and empower consumers to make better choices. CIBUS wants to provide food safety and transparency to Food and Dietary supplements.


To create a decentralized, peer-to-peer global food trading ecosystem that will eliminate middle-men and reduce costs in food industry value chains.


A mobile application will be used to check authenticity and quality of food, which will revolutionize food safety by making all food transactions transparent.




  • Lack of trust
  • Lack of traceability
  • Lack of food safety and consistency


  • High costs & rising consumer prices
  • Lack of engagement between producer & consumer
  • Fragmented food ecosystem with high regulatory friction



Cibus has the potential to disrupt the food retail business in a big way.

Successful implementation of the Cibus blockchain would make two big improvements to the consumer shopping experience.

  1. Trust in all transactions from production to consumption recorded on the blockchain
  2. Cutting out the middle man margins from rent seekers to lower cost for consumers.

Food Safety and Quality

The terms “food safety” and “food quality” are sometimes confusing.

  • Food safety refers to attributes of food that negatively affects the health of consumers.injurious to the health of
  • Food quality includes all attributes of food that impacts the product’s value to the consumer.
    • Positive qualities such as origin, colour, flavour, texture, processing method
    • Negative qualities such as spoilage, contamination, discoloration, odors.

Foods with compromised quality have potentially serious health risks for consumers. Quality assurance is desired by both retailers and consumers.

With the use of blockchain authentication, food products’ originality can be  verified by consumers directly on the digital ledger.

Cibus blockchain offers food traceability that gives consumers full transparency to trace the originality and authenticity of food they buy using Cibus.

Food Traceability Requirements

The Cibus food traceability system can reduce certain food hazards, which may cause significant impact of food safety and quality.

● Microbiological hazards;
● Pesticide remainder;
● Mishandling of food additives;
● Indiscriminate use of Chemical contaminants, including biological toxins;
● Mass adulteration.


The list can be further extended to cover genetically modified organisms, infusion of allergens, veterinary drugs, residual, and growth promoting hormones used in the production of animal products.

Watch out Monsanto, Cibus is coming for you and your GMO’s!

The following technologies will be used for food safety & quality:

  • P2P Marketplace: party to party business transaction
  • Creating intuitive dashboard for supply chain management
  • Launch of food checker app
  • Introducing loyalty system and rewards for customers
  • Founding Digital Cooperatives and Matchmaking with Logistics Companies to strengthen CIBUS food supply chain
  • Collecting data for data visualization, data analytics, predictive analytics to boost sales for CIBUS affiliates
  • Setting corruption free business deals with blockchain technology

CIBUS can make big efficiency improvements in Food Retail

CIBUS is collaborating with developers, food aficionados, farmers, and other parties who all share the same concerns about food safety and quality.

The ultimate goal is to generate a community-driven, lively ecosystem, that uses the CIBUS blockchain for building a better future for the global food markets.

The secondary goal for CIBUS is to educate global audience about the benefits of implementing a transparent food supply system worldwide.

Payment intermediaries

Collecting payments is a challenge for all retailers retailers for various reasons inherent in the fiat, credit-based system. Cibus allows retailers to avoid payment fees to intermediaries.

Cibus Retail will allow the use of the CBT token which offers users the benefits of a regular currency without transaction fees and settlement issues.

Product sourcing and tracking

The Cibus blockchain gives people ability to track every detail of a food product before a retailer sells it or a consumer purchases.

They will be able to check all movements from farm to fork.


1. Trace

Removes dependency on regulatory mechanism and delivers a mobile verification tool to consumers that can be used to validate the authenticity and quality of food.

2. Trade and Retail

A decentralized and direct global food trading platform between food producers, consumers (B2C) and retailers (B2B).

Eliminating intermediaries reduces cost and the transit time for food products.

3. Social

An incentivized social networking platform that allows consumers to provide feedback and reviews directly to manufacturers.

The product or satisfaction rating provided by the users on Social is interlinked with the vendor rating system in Trade and Retail.

4. Logistics and Escrow

Ensures that food is transported according the to standards mandated by European
Commission by using geo-tracking and conditions monitoring smart contracts. It provides scalable, reliable and multi-modal logistics solution for food trade.

5. Advertisement

An inbuilt analytics and content management tool that provides manufacturers and sellers with good insights into customer preferences and choices.

This can be used to create advertisements that are highly relevant.


CBT is a utility token used for transactions in the ecosystem. CBT tokens are to be used to incentivize the Social platform and also as payment for affiliates.

You can sign up using this affiliate link to get free CBT tokens.

CBT will be used to pay for transaction fees, escrow service fees, and advertisement fees.


PRE-TGE TOKEN SALE END DATE: 10:59 AM (GMT) on February 28, 2018
ICO Token Sale Start Date: 11:00 AM (GMT) on February 28, 2018

Payment methods: BTC, ETH, LTC, DASH
Soft cap: 5,000,000 CBT
Hard cap: 40,000,000 CBT
Token exchange rate: 1 ETH = 1000 CBT
Total token supply (max): 100,000,000 CBT
Min purchase: 10 CBT

The ICO rounds will start with a 30% bonus (1300 CBT per ETH) in the Pre-sale and decrease each round until 8% in the final round.


  • Q1: Token sale and listing on exchanges
  • Q2: Alpha release of Trace
  • Q3: Alpha release of Trade, Retail, and Social
  • Q4: Beta version of Trace


CIBUS will release full versions of all solutions through Q4 2019 and the integrated Ecosystem Platform is planned for a full release in Q1 2020

We believe the CIBUS blockchain has the potential to disrupt the global food business with their ecosystem and we certainly can benefit from improved food safety and transparency.

We will keep an eye out for updates on the CBT token sale. Register today for free CBT tokens.

Do Your Own Research.


Hold on for dear life.

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