3 Reason Decentralized Web Will Outsmart Bank.

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avatar of @leophile
4 months ago - 3 minutes read

Crypto and the world of tokens worth of financial values. Everywhere as its in the web3 has come on the advent of AI & machine algorithm. Financial security is all that we want to have in a civic life, right?

Well,why not when we have top concerns for a family to run and a career to lead, study to pursue and loans to pay. Quite conventionally in the recent past, we all tried to go the bank nearby us and deposit papermade money into the electronic account controlled by the bank, to have full freedom of our monetary needs.But do banks implementing what they promise as, financial freedom?

The real case is in fact, they arent. I used to be a sole learner from my youngers from time to time. I teach a group of students who have their own bank account named as scholarship fund.They are instructed by the government education department to open such accounts for the first time, so that they could receive the P2P transfer of money, time to time.

Now, what does banks normally do as to fill their own chairman and director's pocket and allocate salary for their employees? In the search of finding own revenue's and annual profit, they adopt a loan providing and interest keeping policy.It works like a cylindrical conic.The interest of loans are higher than that of deposit interests, which equals to the profit made. Simple, isnt it?

But, not that easy. Its way complex and partially incomplete that the account bearing cost is such grave that, you cant do anything about it.

One of my students complained with full proof that his bank account debited 1/8th of his C/B (Current Balance), which has been deducted as bearing cost. Is that a legal policy to cut price of such small accounts as provided by the govt to student by the name of incentives. How ridiculous!!

Banks Losing Credibility.

Banks are centralized entity and the sole power of manipulation, policymaking, fund operations etc lie in the hand of those having the power to manipulate. At one side, some of the banks are looted and submerged to refusal of loan-paying that caused the bank to become bankrupted.

There were thousands of small to middle income deposits that was the defining social respect for those people struggling to improve their household conditions, make developments and lead a prosperous life. But,they ended up bringing mistrusts among the other people who looked at TV and found laundering money to the foreign lands.

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Building Assets In Crypto.

Peoples attitude shifting towards the volatile markets of crypto because its a potent way of bringing good interests in personal economy. Initially, some of the top billionaire's such as Bill Gates criticized spending and investing on crypto as it is a foolish way of wasting assets.

But, Bitcoins once had prices down to $0.5k each and in a remarkable turn of events, after 5 years of time it expanded as largely as to $32k, becoming the number one crypto token, calculated block unit, and the face of tokenized currency.

Initially holding 5-6 Bitcoins were easy to invest on and with meager calculations that wouldnt cost a few thousand dollars on board. The unpredictability is a game to play and those visionary people had their eyes on to the market and after a several years of active surveillance, became millionaires!

HIVE As Decentralization :The Alternative To Bank?

In such conditions of banks, where no financial freedom is guaranteed, needs bearing cost high enough,money has chances of being submerged to inflation and log loss, low interest rates ; people could easily choose Hive wallet as a best form of smart solution to these problems, couldn’t they?

A secured Hive wallet would guarantee to ensure the rapid growth of assets, APR percentages high and Stable coins as HBD could be fed well enough.No chance of policy change or power crisis for price manipulation.The whole power of such wallets rest inside the authority of holding some string keys securely.

Bank Or Decentralization?

Posted Using LeoFinance Beta