In any country in the world, there are banks. They provide the functioning of the economy. The most common banking systems: a central bank, a network of commercial banks and non-bank credit organizations.
The central bank prints money and controls the activities of all financial institutions.
The working of banks seems to be uncertain, but it is possible to identify some main functions.
The principal one -credit mediation. How it happens: banks attract deposits and then they give these funds for a certain fee (issue a credit). For deposits, you pay up to 10% of the amount, and the loan is given for 20%, 30% and even 50% per year.
Another obligation is to make payments from individuals to other customers or businesses.
Banks receive incomes mainly by carrying out next operations: by investing in securities, issuing credits, transfers, currency exchange, settlements between customers.
Thus, the main activity of the entire banking system is mediation in cash flow (from depositors to borrowers and from sellers to buyers).
There is an alternative to traditional banks-this is the ABLE Platform.
It is developed on the basis of block chain technology, this protects it against hacking.
The ABLE project is a system where it is possible to conclude a transaction directly between investors and borrowers and cooperate without an intermediary bank. There it possible to split the profits in half. The whole process - investment money transfer, interest payment and return at the end of the maturity period - is carried out through smart contracts.
The next stage of the platform development will give an opportunity to receive salary and credits in crypto currency.
Then, we simplify the payment and money transfer services; it will reduce the cost of making transfers.
The ABLE platform will work with any crypto currency, it gives us unlimited possibilities, because the popularity of crypto currency is growing and growing every day.
More detailed information:
Telegram Group: https://t.me/ABLE_Project_EN
Bitcointalk Thread : https://bitcointalk.org/index.php?topic=3159298.msg32659058#msg32659058
My profile on Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1636564