I am interested, but I have some questions:
When you speak about incorporation, what country do you plan to incorporate in?
In that same vein, I understand you are an anarchist, but I wanted to find out if you have looked into the tax and regulatory structure of running a bank in the place you plan t incorporate and are those costs assumed in your budget? For instance in the US, just being a money transmitter (not a bank) comes with a host of regulations (Know Your Client, Suspicious Activities Reporting, etc) and a substantial financial cost to operate in 50 states (about $25 million in regulatory and registration fees). The designation of a bank opens the institution up to BASEL III regulations (60,000 pages last I heard).
How is this model different from the failed Bitcoin bank Neo & Bee which was formed (and failed) in Cyprus?
I see you discuss checking accounts and interest payments in your proposal. I see the checking account valuation is in dollars. First, if this bank will not engage in fractional reserve lending, how do you propose to pay the interest rates mentioned for the various products (bank accounts at 4% - 6%, CDs at 8% - 12%) without going bankrupt?
How will honesty bank generate its fees?
I have a host of other questions as well. I think the idea is great and could follow a direction similar to microlenders like Kiva and possibly grow into something like Prosper or Lending Club in the US. In the Bitcoin space two microlenders you may want to look at to compare business models are BTC Jam and BitLendingClub.
One of the things which kills many crypto "banks" is failing to plan for serious downside volatility in the crypto they choose as their default currency. I think if you can solve this problem, then the rest should be fairly simple to solve in comparison. I am very interested to both see your response and investing if the opportunity is right.
RE: Honesty Bank: Steem's New Banking Solution for Viral Mainstream Adoption (Business Plan)