What is Nostr?
Lee
npub1kp2…9n8c
2024-06-15 12:21:53
in reply to nevent1q…vk3w

Lee on Nostr: This gets me thinking about creation of "easy" financial products that emulate the ...

This gets me thinking about creation of "easy" financial products that emulate the familiar, targeted toward people who can't be bothered to learn about bitcoin.

Yes. I know. There are examples now in companies like Fold and self-custody or multi-sig IRA... these are primarily opt-in vehicles for those who have studied a bit.

I'm just wondering out loud whether there's something to be done *within financial institutions* to "supercharge" legacy financial products by adding a dash of bitcoin to the mix.

What about paying interest on accounts in bitcoin? A typical retail/consumer savings account might earn 2% or less and a typical interest-checking account might earn 0.25%. Perhaps if the offer was "interest paid in bitcoin to your institutional account (custody)" or, for those who bother to learn self-custody, "interest paid in bitcoin to your KYC'd self-custody wallet of choice?"

Incentives seem to align here.
Thoughts?

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