I always wanted to open my own crypto bank , finaly i m ready to do it , if you have 382 bitcoin and your only dream its to open your own bank what will be your ideas? Is it possible to build a decentralized bank?
Decentralized Bank, two opposite words, is like talk about cold fire... Let's define a bank:
A bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.
So, a bank can't be decentralized while it's regulated by authorities.
And Talking about the capital you need to open a bank, from this article https://www.huffingtonpost.com.mx/entry/how-to-start-your-own-ban_n_497261 you can find:
Code:
Generally banks need about $12 to 20 million in capital to get started
So, while 382btc is equal to $3.2M then the answer is "Not Now". For that you need bitcoin at $32,000 to open a bank with that amount.
The good news is you can run other big projects with that amount, like an exchanger or a casino.
