How does someone start a bank. I understand that you have to have a shit ton of money, but how does someone actually start/open a bank of their own? Can mr joe shblow, given that he is able to come up with previously mentioned “shit ton of money”, go out and open his own bank? Obviously it takes time, but what’s the process of doing so?
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And as a side-question to this, how does this factor into things like Loopring with their catchphrase “be your own bank”? I imagine the world of blockchain based ledgers has a whole different set of rules than institutional accounting-book ledgers in terms of operating, but also how would loans work in a blockchain based ‘be your own bank’ world?
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