I would describe the The Mortgage Electonic Registry System (MERS) as a Dark Side version of the blockchain. It was created for and by bankers to avoid paying taxes, commit fraud in mortgage backed securities and make it a cake walk to foreclose on families.
This Wikipedia article does a great job explaining it.
http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CB8QFjAA&url=http%3A%2F%2Fen.wikipedia.org%2Fwiki%2FMortgage_Electronic_Registration_Systems&ei=6f7XU93gAYGgyATy8YCABA&usg=AFQjCNHIhtublhtqaUxTyr2BkZgMlK-s6A&sig2=uTAkyEX6c7vN6OOOzdYrtg&bvm=bv.71778758,d.aWw
This article also.
http://www.ritholtz.com/blog/2013/04/states-fight-back-against-mers-mortgage-fraud/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29
I couldn't possibly believe that Lawsky could be oblivious to what these crooksters are doing yet he is going after Bitcoin. The blockchain is open source and everyone can and has seen it and how it operates. MERS is just as digital but is totally hidden from view. We gotta see through Lawsky and who butters his bread and greases his palms!
The blockchain or one made specifically for mortgages would hit the bankers where it would really hurt. Their days are numbered.
Topic: Tell Me A BlockChain Can't Nail The Bankers Coffins! (Read 596 times)
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