The proverb “small spool, yes expensive” is beginning to take on more and more meaning. The production of small money is starting to cost the world so dearly that economically weak countries have long abandoned it, and the stronger ones are looking for options that would reduce the cost of small things at least to the level of their nominal value, but these efforts lead to funny results.
As soon as mankind invented money, how did he immediately encounter the need to somehow break it into smaller parts, because you won’t start giving the same money for a cow and chicken? However, it quickly became clear that it was not so easy to divide the main (usually gold or silver) coin into shares. As a result, the ancient Greeks, for example, had to use coins of about two dozen denominations. After a series of reforms and troubles, the Roman Caesars managed to reduce the variety of coins to five denominations from the largest – aureus to the smallest – ace (400 aces were considered in one aureus). Inattention to a small coin, as a rule, cost dear rulers: before the modern monetary system developed, more than one state was shocked by outbreaks of social discontent caused by this reason. Continue reading
Retail wins banking business
Last year was the most successful in the history of the retail business of VTB24 Bank. He again entered the top three most powerful banks in Russia, earning a record profit of 47 billion rubles. The bank’s growth is ahead of the market by about 1.5%, therefore, the organization’s management intends to continue working with retail operations.
For the second year in a row, VTB24 is one of the three most profitable banks in Russia. Last year, the bank earned 47 billion rubles, net profit amounted to 37 billion rubles. This was announced at a press conference on the results of 2012, the President and Chairman of VTB24 Mikhail Zadornov. Continue reading
More recently, the payment system E-DINAR appeared on the market. Originally from a booming Asia, this electronic system has already proven to be very attractive and promising. She has the main qualities: low transaction costs, speed of operations, reliability and an intuitive interface. The new service provides users with additional features – when performing operations, the user receives a bonus.
New E-DINAR Technologies
This service is based on blockchain technology that takes into account cryptographic principles. Clients can place any currency for exchange and other transactions without commission.
The unit of account can be easily bought and sold on a special exchange, which is located directly on the site. This allows for independence in monetary matters. The question of the currency in which the operation can be carried out completely disappears. Money here becomes universal, they are automatically converted into those that are required for a specific operation. Continue reading