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Unlike other banking systems, customers may when selling an asset through the system obtain instant credit from the bank based on the type of asset they are selling and their credit rating. This feature of the CopperCards Banking system provides an extraordinary powerful incentive to commerce and industry and will greatly enhance any economy. Once the customer sells the product the net difference between the sale and credit is balanced against their account. The Bank will absorb bad debts every seven years, however, this will affect the customers credit rating. Bank personnel will be rewired on the accuracy of managing their client’s accounts. The Bank may, pursuant to strict regulations, issue coppers to pay for infrastructure and salaries of employees (this function is chosen instead of charging transaction fees). Unlike other banking systems, coppers bare no interest and no interest may be charged for coppers. This is not only in strict conformance to religious laws, but an obvious and logical necessity in order to maintain stability and prevent fraud. Charging interest on money made out of nothing amounts to nothing less than fraud and is a serious criminal act. Astonishingly this is the basis of much of the world’s banking sytems. This is strictly prohibited and enforced in the CopperCards Bank. |
