[Analysis] Full reserve banking with Bitcoin - Tamas Blummer

Today's financial system stands on the verge of collapse thanks to fractional reserve banking, argues Tamas Blummer. The symptoms of a sick system are near zero interest rates and negative sovereign debt yields. The only way out is full reserve banking which can be done with Bitcoin ($BTC), minus some obstacles. Proof of Reserves provides only a snapshot of credibility. Blummer calls for leveraging Bitcoin's programmable nature for credit covenants that offer full accountability within crypto lending.