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Author Topic: Kinesis: Providing the most secure form of digital data storage  (Read 73 times)
Spectrology
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June 27, 2018, 03:47:31 AM
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Kinesis provides the most secure form of digital data storage.

By delegating the creation of money to private commercial banks, the Central Bank of Iceland, and thereby the state, foregoes considerable income that it would otherwise earn from creating new money to accommodate economic growth.

Commercial banks in Iceland reap a benefit from the ability to create money in the form of demand deposits. Banks can pay lower interest on demand deposits than they would by borrowing in the market.

Owners of demand deposits are content with low interest rates because the deposits are a convenient form of money and for banks that are ‘too big to fail’, there is an inevitable state guarantee on deposits.

Unless banks are engaged in ‘perfect competition’ (a situation that almost never arises outside of economic textbooks), much of this cost-advantage ends up as extra profit for the banks. It can be estimated that by delegating the bulk of money creation in the economy to private banks, the Central Bank of Iceland foregoes estimated annual revenue of close to ISK 20 bn.

Although demand deposits are a convenient form of money from the perspective of businesses and members of the public, fundamentally they are simply a liability (or IOU) of the issuing bank.

A demand deposit represents a bank’s commitment to pay the deposit amount in cash, or to electronically transfer it to another beneficiary, when the owner so demands.


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June 29, 2018, 09:50:04 AM
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When the demand of a certain thing increases, and if money is involved then it will be prone to hacking. The hackers are now more on alert and hacks their way into the system to earn easy money on the slightest possibility. But the companies are fixing their flaws in the system. Let’s hope for the best.
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July 02, 2018, 11:46:03 AM
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Actually with the increasing popularity of the crypto currency market, there is also an increasing demand for security of the market. In the most recent days many hacking events have shaken the market of crypto currency. So strong security measure is needed and this project will try to focus on this. This is really a nice initiative.
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