Credit Debt Facility on Hive: Draft Number Two.

Introduction

My Second Stage of thinking

Evolution in thought process.

I am thinking of changing me attitude towards Trustlessness. I think the customers will be asked to Trust but Verify. This attitude was first applied toUSA and USSR agreements about nuclear weapons, a far more serious topic, so if it is good for the USA and USSR with regard to nuclear weapons, perhaps it is good enough for the Hive Bank.

original source- modified

This idea or attitude allows me to provide a higher level of customer service to Hive Bank customers, and also requires a lower level of complexity for the customers.
It allows the customer to make deposits as simply as they would in a Traditional Bank, but provide them a much higher level of verification and transparency.

I think this is a good balance of familiarity, simplicity and trustlessness.
This is the description of the overall concept and now I will explain how this plays out in the banks policies and procedures, and how it helpd provide a easy to understand and use user interface.

Importance of this being a business on a blockchain.

First, remember this is a blockchain so...

"the transaction is the record, and the record is the transaction."

All deposits in the Hive Bank are transactions, which are permanently part of the blockchain ledger.
All withdrawals are also a tramsaction, which likewise permnent entries in the blockchain ledger.
In cryptocurrency, we send tokens via transactions, and create pefect ledger entries for posterity.
The Hive Bank will have a wallet, and all deposits and withdrawals from this account will be recorded on the Hive Blockchain ledger, which is accessible through the Hive Blockchain explorer.
The Hive blockchain explorer is accessible through "https://explorer.hiveblocks.com/"; it is a dedicated platform that allows users to view transaction details, wallet balances, and other information on the Hive blockchain.

This level of transparency is unlike any defi project in existence, where you must go to the blockchain explorer to find this knowledge. But here on Hive it is in the wallet for a bout a week and in the blockchain explorer forever.
Additionally, because of this level of transparency provided by the block explorer, the customer can easily verify that their deposits were received and their tokens are in the credit debt facility account.. - So not only the wallet ledger of the account, but also the block explorer for all transactions since the accounts origin.
This is what TRANSPARENCY Looks like.
So, if their funds were transferred out of the bank, or any funds are transferred out of the bank, this is also viewable in the wallet of the Hive Bank and the wallet of the recipient.
So, the posts for this account, which reflect deposits and withdrawals can be verified on the block explorer.

More then one block explorer

there are more then one block explorer projects on Hive where you can verigy transactions.
There are seven

This is what TRANSPARENCY Looks like.

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