Expansion on the idea of voting.
While working on the concepts of Banking, i realized that eventually a good business ethic and excessive funding could lead to centralization. So we need something to regulate the influence of Banks on the overall system, just the need for profit can at times not be enough incentive to maintain order and ethical business practice.
So... i came across this idea, let's introduce a credit rating system with a twist...let the people decide which is the better bank. As a customer, if you are satisfied by a Bank's performance, you can give them a thumbs up. This means that there is more at stake than just profit as a Bank, your reputation also goes on the line.
So banks serve the users, and if they fail at their jobs, they will get a low rating, thus less business.
i did say that. even if a bank node cost 50btc as long as scammers make a profit losing that 50btc is no problem to them also this feedback system would need to be moderated as some people can leave negative for no reason or just to hurt that person's account.
when i said let small players i did not mean let people with get a bank node for peanuts. my reasoning was as coins get brought up they increase in value thus reaching to a point you cannot have bank nodes and large dumps when they are released. a fixed amount of coins to unlock certain levels and limits is what you can do. something like every one starts of as beginner then pro and so on and then their limits rise too. if they mess up its from the beginning. you need to make the process long not the cost high to avoid them to scam.
ive been working on something like this for months now. il pm you what ive done then you can take it from there if you want anything as your already a step ahead and would be much better and faster than me at implementing it.
Glad to see your models are coming closer together, please check out the trust rating system, there is a very basic very rough implementation already in the code. It calculates your trust rating as an individual based on your transactional behavior and how long you have been a part of the ecosystem.
It is still incomplete (so much to do) but it already shows useable results, your rating directly affects how banks interact with you, the higher your trust rating the more "levels" you unlock. But as with any great idea i have they are almost always functional in my mind long before they are in reality. The eventual goal is that the trust rating shall be used to regulate who can be a bank, who can borrow how much can you borrow and perhaps even instate uniform interest rates for each level.
So potential bad actors have a lot to worry about, both at the average user level and the Bankers. Trust in this system is hard earned , and once you lose it, you are done