Consumer Banking Takes Major Step Forward With Blockchain Technology To Help Consumers Save

MinexCoin is the first blockchain project I've seen to successfully create a decentralized banking application, allowing users to 'park' their coins for an interest rate at a specified length of time. The coins never leave your desktop wallet.

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This post was originally published on my Medium blog and can be found here. I hope you enjoy and find this helpful! Most of us have consumer bank accounts that we use to pay our bills, make purchases, investments, and save money with — transfer and store value. Signing up for a bank account requires documentation of our personal and ID information. Operating our bank account requires us to log-in to an online banking portal where our information is stored. Have you ever actually looked at your bank statement to see how much the bank rewards you for storing your value with them? In this article, I will: briefly dive into the statistics, painting the harsh reality of the current mainstream consumer banking savings return rates (Chase & Wells Fargo); take...

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