Something is happening in the world today that we've never experienced before, the shape money is taking as result of crypto is simply fascinating. I'm glad to say a bunch of shits have just fallen forward for me to pass across the desired message. Crypto targets centralized banking, by design, the concept wasn't to compete with this sector, but to build solutions that fixes its major demerits; centralization.
One of the greatest fights the government have is against Decentralized Banking, on so many levels, it kills traditional institutions. Scrolling through coingecko I figured there are just so many Defi projects rolling in, all offering yields in different percentages, this is generally good because just like commercial banking, they are numerous company names, but the difference is that, with crypto, decentralized finance differs from commercial banking, different projects, different solutions, this is what makes crypto unique, it isn't trying to sell a product but presenting solutions
Security and Sustainability
Security is one key factor when it comes to investments, investors are always on the lookout for it, because before sustainable income is acquired, security has to first be in place, this is why I think of HIVE whenever Sustainable Finance is mentioned.
I think the topic is actually not well spoken off. HBD savings is one awesome feature for this ecosystem. From my one year experience on Hive, I've felt safe through out the journey, it's an atmosphere that creates confidence in actual investments. That said, HBD savings builds a solution around centralized banking, how?
Decentralized Banking - Changing The Phase Of Money Management
Hive, over the years has successfully brought real world solutions, taking HBD savings as a focus, this is a mechanism looking to take away the role of commercial banks. The first point to argue is the 12% APR. I've, a few times come across discussions on HBD and UST, as a comparison, I totally understand that UST staking offers a higher APR, but I don't assume the funds security, compared to Hive, is matched. While this post isn't much about contrasting on which is better, because, like I said, crypto is by design, a solution, while commercial banks compete for customers, crypto projects shouldn't be, rather, they just focus on building solutions, the right audience and users, definitely falls through. For the industry to actually be a success, more and more networks of decentralized applications will be set up.
HBD savings is a Three way merit system.
Security
Sustainability
Wealth management
Security
Considering HIVE by design, the network is secure with its complex setups. The private keys play an important role in that. Posting, Active, Owner, and Memo Key, all serving different purposes, that's unique, but most importantly, safe, by design. An account and it's content become secure unless these keys are compromised, which is in rare cases. The most utilized is posting, which good enough, is the least risky in terms of financial protection. Only the active key grants access to funds, and that's rarely used, and again, only the owner key gives right for account update and this key barely even gets touched…
Sustainability
HBD savings is quite sustainable even though it's just a savings account… We live in a world where billions are stagnant in bank accounts with no significant appreciation, but HBD savings not only saves money, it regenerate income at 12% apr, that's called banking with benefits
Wealth Management
First of all, saving money is a way of putting it out of supply, which means out of a spending reach. The goal is to stack up your wealth in savings where you can't touch it. Now, this is where the 3 days wait period for withdrawal comes in. If any, I feel the need for this, and even though it has not always been openly announced, this has helped people cut down on spendings. As humans, when you think of how long you gotta wait, there's always a higher chance of forfeiting whatever that was. Just like the long wait period for power downs, if an account is compromised, that's the leak of active key HIVE by all this design, makes it possible to spot the compromise before the hacker gets hold of your funds, liquid. Unlike traditional banking systems that once bridged, it's down, you get wiped, HBD savings offers great solutions which will change the phase of money management…
Financial advice; build your savings (wealth) with HBD savings