The associations wrote that ABN Amro is the first bank in the savings rate is again reduced, to just a any 0 per cent interest. The interest rate is as of november 1, with a 0.01 per cent interest.
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It Is savings in the bank might be a good idea?
This means that if you have a year-10,000 euro for an account, you only have 1 euro in the rate of interest in return. You have to ask yourself whether you have money in a savings account and put the right thing to do. Especially when the Central Planning bureau has calculated that the rate of inflation this year to 2.6 per cent.
The reduction is on the 1st of november, and it applies to all of the popular driven savings products at the bank.
Cryptocurrency offers a way out
Darrel Duffie, a professor at the Stanford Graduate School of Business, said that the cryptocurrency’s an end to the benefits that the banks currently enjoy a deposit with such low interest rates.
He is expected to cryptocurrency’is the business model of the banks within the next ten years, completely on its head, it will turn on. And this is in the pipeline.
Don’t look at it today, but with the potential to
Professor Duffie is looking at the long-term, and when you have a decentralized cryptocurrency such as bitcoin do not need to take care of the level of adoption in this day and age. He also said that some of the negative feedback from Facebook with a Balance will not mean the end of private cryptocurrency’s.
“The future is coming, and the future, which is disruptive to traditional banks, which are not on time”
In ten years ‘ time, things are different
Whether it be in the form of a bitcoin, a dollar-backed stablecoin, a Facebook or any digital currency from the central bank, and the benefits of the digital activamodel it will probably mean that banks will in ten years time, will no longer have access to low-interest rate deposits:
“The new payment methods are going to lead to more intense competition. If consumers are faster ways to get to pay their bills, and retailers easy access to their revenue be able to get a without a bank need-to-have, but they do not make as much money on the accounts to keep track of where you have barely any interest on it.”
The models for the banks is in an offside put
Citizens and businesses are almost entirely dependent on the banks for their money transfers. However, the vast majority of the population is a customer of a bank, and they have to pay heavily for the services of a private bank. Banks will ask for a large sum of money from the companies in which you have a credit card, you can pay for it, and that will depend obviously on the customer.
There are a variety of models in which the current level of commercial banks are excluded can be set in the process. From time immemorial, that is, of course, cash, but now you also services, such as PayPal, and of course the cryptocurrency as bitcoin.
And if the adoption is being driven by the private sector, think-on Balance, it can have a huge impact on the status quo.
The future is coming on
Professor Duffie argued that the current system is not sustainable. Technology, the economy, and public pressure will ensure that the global payment system is no longer in the banks is located.
“The smarter banks will have to be at the forefront, but others will be reluctant to support their old business models have to give you.” He had a message for the banks, such as ABN-AMRO bank:
“In the future we will be adding to it and that is not good for the banks.”