Altcoins Talks - Cryptocurrency Forum
Further Discussions => Banks & Cryptos => Topic started by: maklampir on October 11, 2018, 04:50:13 AM
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So I've been thinking a lot about banking lately, specifically how it could be done within an anonymous, secure, community where fraud is so freaking easy. All-in-all, I don't think it would be that difficult to set up a BitCoin bank. The problem I see is incentive to continue running it.
Traditional banks make money mostly in three ways:
- Loans paid back with interest
- Fees associated with accounts
- Other associated 'services' like a safe deposit box, financial consultations, etc
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I have asked a bank manager once. He told me that the real inflow of money is when people lends money from the bank. The interest of the borrowed that are quite big are the ones they use to pay their employees. When somebody deposits in the bank they got their money addded with interest but at the same time this money can be an asset to the bank should they need to use it for lending.
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So I've been thinking a lot about banking lately, specifically how it could be done within an anonymous, secure, community where fraud is so freaking easy. All-in-all, I don't think it would be that difficult to set up a BitCoin bank. The problem I see is incentive to continue running it.
Traditional banks make money mostly in three ways:
- Loans paid back with interest
- Fees associated with accounts
- Other associated 'services' like a safe deposit box, financial consultations, etc
I think htis idea is a good one, and if there could be a bitcoin bank establishment, it will definitely operate like the fiat banking systems. The difference is just trust from members of the bitcoin community or every participants.
Yes, there will be loan and also customer deposit that could be used to run the bank, nevertheless the trust from participants will help boost the bank confidence in my opinion.
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