Imagine a Bank that has no management and administration. All these functions are performed by the smart contract program. Anyone who wants to connect to the bank becomes its co-owner. You can place your financial assets as authorized capital in the form of a deposit on your bank account. The bank guarantees the preservation of financial assets by issuing you an equivalent value (smart contract tokens). The bank accumulates financial assets of all co-owners and accrues income for the placement of funds. You can earn by helping others to become co-owners of this bank by providing an opportunity to connect to the bank. You can always get your asset back at any time by returning its guarantees (smart contract tokens) to the bank.
The peculiarity of bank guarantees is that they cannot be depreciated under any circumstances. The smart contract program provides for an increase in the value of tokens depending on the amount (authorized capital) of the bank's deposit. The higher the deposit, the higher the cost of the token.
http://prosh.ru/smartcontract.htmlThis is entirely unworkable as a bank. A bank with no central management will fail. Banks make money be lending depositor assets and collecting more money when the loans are paid back. This necessitates a central administration to vet investment plans by people seeking loans and assessing the viability of those plans so the borrower has the ability to pay back the loan. What is described above, where people just invest money and magically make more money because “smart contracts” is not a bank, it’s a Ponzi scheme.
If you want to be a part owner of a bank, join a credit union. They’re owned by the members and they actually function as a bank WITH a central administration, which again is necessary.