A Growing Case for Decentralized Banking Services – Change Bank

Ever worried about where does your bank keeps your hard earned money? Is it stored in the form of gold bars in a safe 100m below ground or is it stacked as bundle of fresh note in a unbreakable safe behind the counter where you usually interact with the pretty receptionist. None of this illusion is true, your money is not with the bank; maybe 20% is stored as a reserve but this is likely an overestimation.

Your bank uses your money to lend out to businesses and individuals so as to earn exorbitant returns of which only a tiny fraction gets back to you as the original owner of the funds. Your bank also uses your money to invest in plenty of risky investments like derivatives which many bankers themselves do not even understand. Your bank also uses your money to lend to other banks so that they can meet the overnight reserve cos another bank has over-lent or over-invested their own customers’ funds. If this does not make you worried, you should. Look at Greece, when everyone makes a run for the bank, the government had to close the banks in order to prevent a stampede. That is because, when all of us wants to get our cash at the same time, we will never be able to withdraw our money. This is impossible even in the most developed nations with the highest GDP per capita. That is the nature of banks. Most of our money is being leveraged by the banks for their profits; of which little are returned to you. Do not forget Venezuela; how all the money in the bank has been reduced to nothingness by their hyperinflation .

That is why a decentralized banking services, such as Change-Bank, which exist on the blockchain, is sorely needed. We as owner of our funds, can choose what to do with our money. We can choose to invest our funds via Change Marketplace with independent financial services and keep all our returns. And there will never be a need to worry that the bank will run away with our money as our funds are in the form of crypto currency and stored on the blockchain. This is the value proposition for a decentralized banking services. A bank which provides services for our funds and not uses our funds for their own profit. Change is Coming.