[MOMC]eBanking-Explained

Day 1,550, 14:38 • Published in India India • by Dushyanth


From the response to the previous article..I thought Of taking a step closer to making the project it into reality by giving more details!!


*Firstly The Bank will have 2 ends
1.Front end - savings accounts
2.Back end - Shares and industires.


BACK END:

In this section I'll explain about shares and industires..



*There will be shares of 100 INR each around 1280 shares..which will generate
1,28,000INR.15 saltpeter mines..( 15*8,500=127500INR)would be opened.

*This will generate a revenue of 15*280*0.33*7=9702INR Profit/week

These share holders cannot ask to return their money but can sell their shares under mutual agreement with other players.

FRONT EN😨
Here i'll explain about savings account and interests..

*Let us say total Savings of 1,00,000INR is generated by all the accounts.

*Out of this 15% i.e 15,000 INR would be kept aside as Reserves for withdrawls.

*And the remaining 85000INR is used to open 10 more saltpeter mines

#This will generate a revenue of (10*280*0.33*7)=6468INR

--so Total Generated Profits = 6468+9702=16170INR.

1.Bank will pay 3% interest per week on the lowest amount for that week in the account. 1,00,000*.03=3000INR
Amount left=13170INR
2.New saltpeter mine will be opened to expand the industry.
13170-8500=4760INR
3.920 INR would be used for salary of the mines and food to recover the wellness because of mines..
4.remaining 3840 is divided among 1280 shares (3INR per share).

#The new mines increase the profits and since the money in interest is fixed @3% the extra profit will be left to share holders..providing them an advantage and an opportunity to sell their shares at higher prices...


*Requirements:
1.5-6 reliable players,who can operate 4-5 saltpeter mines daily.
2.Support of Treasury in times of despair (like if withdrawls are more than reserves).
3.All the values in calculations are needed to be scaled to realistic approximations.
4.Feed-back from all by finding the loop-holes..and ways to make this a better project.

*Do you remember we collected128k and spent only 127.5k in the back end!!The remaining 500INR is my bonus for coming up with this project..😛
*And finally thanks to troj4n20 for providing the help and knowledge to get this project to this stage.😃


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