Ask & Answer

Answers to questions about EkaBank

The following questions were posed by potential users.

Any further questions will be published.

1. Where do the funds of EkaBank?
2. A person defaulted can access the services of EkaBank?
3. An EkaBank account can be seized?
4. In what state is based EkaBank?
5. What is the system of banking secrecy applied to EkaBank users?
6. What is the legal form of EkaBank?
7. Citizens of all countries of the world can use EkaBank?
8. How EkaBank protections in the event of insolvency of a user?
9. How does EkaBank to self sustain without producing useful?
10. How does EkaBank to assess the appropriateness of the request for a loan?
11. The EkaBank loans are tied to the presentation of productive projects?
12. An EkaBank user has to be a natural person or can also be a medium or small business?
13. EkaBank does make public its statute?
14. EkaBank does make public its financial and capital flows into and out?
15. EkaBank does open own agencies in the area?
16. How can I talk to EkaBank?
17. If EkaBank is a system out of the bank, how deposits and withdrawals occur?
18. With EkaBank is possible to make deposits or withdrawals using prepaid credit cards or other?
19. With EkaBank can I use checks or bank drafts?
20. How EkaBank protects the privacy of its customers and their transactions?
21. Increasing the money supply, EkaBank cause inflation?
22. How can I cheat the system?
23. Why a private or public should accept payments of EkaBank?
24. And if the person that I can pay with EkaBank not accept payments via EkaBank?
25. How does the user who has an EkaBank account denominated in the X currency to pay with the Y currency?
26. Ultimately, what is the purpose of EkaBank?
27. But then EkaBank Could not give money to those who have none, instead of lending it?
28. If EkaBank has no report with banking system incoming or outgoing, and receives no physical money (coins and banknotes) or electronically, how does to circulate resources?
29. What can I pay with EkaBank?
30. What is the technical support of EkaBank?
31. What is the difference between EkaBank and KyberPay?
32. EkaBank can fail?
33. What we do with the money managed by the banking system?
34. So the money that comes by the interest is worth nothing?
35. How many users will have EkaBank?
36. EkaBank is anti-system?
37. Why official language of EkaBank is Italian?
38. Can EkaBank provoke reactions of those who want to leave things as they are?
39. If platinum were to lose value, users would suffer a loss?
40. Even among EkaBank users loans can be made: how can you prevent them from being with interest?
41. EkaBank has a banking license?
42. Nobody gives anything for nothing!
43. EkaBank can also finance public debt?
44. Why does not finance banks?
45. What is not possible to do with EkaBank?
46. Why it's not possible transfer money outside EkaBank system?
47. You can get confused between EkaBank and KyberPay?
48. How is done the spread of EkaBank?
49. EkaBank revolutionizes the use of money and credit?
50. Why EkaBank began operation only now?
51. But, if all existing money circulates only in EkaBank, it would eliminate any free competition in the banking business?
52. How can EkaBank have such huge capital?
53. Why EkaBank not receive money from outside?
54. How do I credit a EkaBank account for the levying of a present or future debt?
55. Why is not possible to have meetings or telephone contacts with EkaBank staff?
56. Why the main version of EkaBank site is in English?
57. What means "EkaBank"?
58. How can use EkaBank whoever does not understand money and finance?
59. EkaBank will facilitate tax audits??
60. In the end, with EkaBank you can have whatever you want?
61. What happens if someone buys goods and after he paid them by EkaBank sells them and receives the payment to another bank?
62. What effect would on EkaBank the collapse of the banking system??
63. But EkaBank can only work if everyone adhere!
64. EkaBank considers imminent the collapse of the banking system?
65. EkaBank system can terminate or suspend?
66. What effects can have EkaBank on capital flight?
67. What effects can have EkaBank on the shadow banking system?
68. But 12.5 trillion dollars is an huge value!
69. EkaBank can also work with complementary currencies?
70. EkaBank manages real money?
71. How quickly EkaBank can be adopted by everyone?

1. Where do the funds of EkaBank?
   The initial capital is made available by a foundation and companies. The capital was invested entirely in shares and rights (patents) and is now discounted. Other funds will be provided by entities established in different countries.

2. A person defaulted can access the services of EkaBank?
   Yes, no restrictions.

3. An EkaBank account can be seized?
   Yes, of course the money will be transferred only to an EkaBank account.

4. In what state is based EkaBank?
   EkaBank is outside any jurisdiction.

5. What is the system of banking secrecy applied to EkaBank users?
   Each user can only access their account password. For the rest, the national law of each user is applied.

6. What is the legal form of EkaBank?
   EkaBank is of its users. It is not a company but a system made by its users, using an asset made available to alla users.

7. Citizens of all countries of the world can use EkaBank?
   Yes, of course.

8. How EkaBank protections in the event of insolvency of a user?
   According to the rules 25, 26 and. Any losses will be covered with the assets of EkaBank.

9. How does EkaBank to self sustain without producing useful?
   Using a portion of its assets.

10. How does EkaBank to assess the appropriateness of the request for a loan?
    Based on the information of the applicant and to their verification.

11. The EkaBank loans are tied to the presentation of productive projects?
    No, even if the underlying purpose of EkaBank is to promote and support (financing) productive labour in all its forms.

12. An EkaBank user has to be a natural person or can also be a medium or small business?
    EkaBank user can be anyone.

13. EkaBank does maConto su di te.ke public its statute?
    EkaBank has no statutes but only the 33 rules published on its website.

14. EkaBank does make public its financial and capital flows into and out?
    Yes, of course, along with all the information on its management.

15. EkaBank does open own agencies in the area?
    No, anyone who wants to organize and promote the system can help who for any reason is unable to directly manage its account.

16. How can I talk to EkaBank?
    The site of EkaBank is equipped with an encrypted and totally inviolable communication system.

17. If EkaBank is a system out of the bank, how deposits and withdrawals occur?
    We start with the first user who registers. If you want to pay a creditor, EkaBank need two things: first that the user has the account in surplus and that the creditor will register and become a member. To get the account active, the user must first apply for a loan. Because the lender is registered as the second user, the user first has to ask him. Payment from first to second user initiates the process: who wants to pay can use his money (received from another user) or borrowed money from EkaBank.

18. With EkaBank is possible to make deposits or withdrawals using prepaid credit cards or other?
    Initially, EkaBank only works with direct access to the site. Then you can do it by phone. Then will be adopted all electronic payment systems.

19. With EkaBank can I use checks or bank drafts?
    No, no checks or cash. EkaBank only works by transferring money from one account to another of its users. Maximum secrecy, but also complete transparency.

20. How EkaBank protects the privacy of its customers and their transactions?
    As stated in the answer to question 5, each user knows what pays and what it collects. Nothing more.

21. Increasing the money supply, EkaBank cause inflation?
    No, for two reasons. The first is that money is not given but lent and then continues its rarity. The second is that the EkaBank loans are interest-free and therefore does not increase and indeed reduces the production cost of the goods. Inflation is the result of unproductive debt, not of the productive credit.

22. How can I cheat the system?
    Paying with EkaBank and enjoying the outside. It runs a risk that any bank will exist and will exist as long as banks. To prevent this abuse, in contrast to the confidence in users, EkaBank, before executing a payment order, occurs in a few seconds his correspondence with the target stated in the loan application.

23. Why a private or public should accept payments of EkaBank?
    The private entity may be interested in EkaBank to collect a previous claim that otherwise the borrower would be unable to pay because he have no money (and EkaBank can load) or to increase the production and sale of goods or the provision of services. The public may be interested to collect taxes from those who have no money (which EkaBank can lend) and to finance public services (health and food assistance, education, etc.) And free for all infrastructure. In essence, accepts payments EkaBank who really wants to use money as a means of production and exchange, and not as a means of enrichment.

24. And if the person that I can pay with EkaBank not accept payments via EkaBank?
    It means that that person has not yet figured out how things are. If the subject does not accept payment by EkaBank, you do not pay. He does not collect. You will certainly find another who will accept, while he does not know if will find another who will pay.

25. How does the user who has an EWhat effects can have EkaBank on the shadow banking system?kaBank account denominated in the X currency to pay with the Y currency?
    The EkaBank account is denominated in grams of platinum (999/1000), one of the most rare and least depreciable assets, and safer than inflation. When a payment is made, EkaBank credits the beneficiary's account with the currency of the same request and charge the bill to pay with the same currency, at the rate of change of the price of platinum.

26. Ultimately, what is the purpose of EkaBank?
    It is a historical task. We started with the work to make products. And we managed to produce surplus. The products have become commodities. The goods were exchanged for cash. With the credit (money) we have developed the production. The production has allowed the profit (surplus) in favour of a minority. The profit has allowed the accumulation of capital, increasingly used to speculate, first with the marketism, then with finance. Now we need to do the reverse path, returning the result of the production to the work. This can be done only with credit to the production and consumption. Without interest, then no rent.

27. But then EkaBank Could not give money to those who have none, instead of lending it?
    No. Unless it is assigned in equal parts to entirely new currency guaranteed by the actual value and the maximum emission, giving money (legal tender) without making repayment, increases the dependence on money of the people who receive it and not the will and the responsibility to work to produce. History teaches that the only welfare at the end creates poverty, dependence and not, instead, as needed, material and spiritual development of each person. Economic relations, like all human relationships, must be based on reciprocity and commitment, not on charity and alms. Also, putting as much money in circulation without reimbursement (liberal payment) would cause inflation. Finally, we must never forget that nothing belongs to us exclusively and we borrow from nature all that we use.

28. If EkaBank has no report with banking system incoming or outgoing, and receives no physical money (coins and banknotes) or electronically, how does to circulate resources?
    First, the financial resources of EkaBank must only circulate within the EkaBank system to prevent a repeat of the speculative process made ​​possible by the current banking system. To understand the function of EkaBank is necessary to imagine EkaBank as alone world bank (or, better, credit system), alternative to the current banking system. To bring resources into the system, the user who has a credit collects it into its EkaBank account. To bring money available at the normal banking system in EkaBank, the user must first exchange this money with goods and services and then exchange goods and services with money that collects on EkaBank. EkaBank extends credit to the user who needs it and who expects to be able to repay. With this credit, you can pay others. When he has to pay, ask the creditor EkaBank account number, if the creditor is not yet EkaBank user, he must register and become EkaBank user.

29. What can I pay with EkaBank?
    Goods, services, debts, everything. The important thing is who pays and who receives money are EkaBank users are and whom pays have a credit balance on the account, otherwise he can borrow EkaBank.

30. What is the technical support of EkaBank?
    All operations EkaBank - registration, account opening, lending, payments and collections - are managed by the system of multi-currency payments KyberPay (totally free) that applies the EkaBank rules.

31. What is the difference between EkaBank and KyberPay?
    EkaBank is a credit system that grants interest-free loans. KyberPay is a multi-currency payment system that applies EkaBank rules to EkaBank users.

32. EkaBank can fail?
    No, it is impossible, because it does not lend money received on deposit, but only what it has as heritage, which must neverWhat means "EkaBank"? be returned to whoever has made available. Therefore, it is impossible that it cannot transfer money from one user who has the capacity to someone else. It is the principle that no (real) is created but nothing at all (real) is destroyed.

33. What we do with the money managed by the banking system?
    It's money without real value, and for the most part is used outside of the real economy, and produces no real wealth. It is the virtual, apparent and unreal value. And as an idea that never has been realized at some time is lost and extinguished, so the virtual value that is not transformed in the real value ceases to exist.

34. So the money that comes by the interest is worth nothing?
    First of all, the interest is a deception. What a sham the difference between selling receipts and total cost of production and distribution through which it is formed, which then lends the money with interest. But is not new. Aristotle contrasted the productive economy to chrematistics business, the art of making money, when he wrote in De Republica (Book 1, Chapter 8) that «The chrematistics being twofold, one commercial, the other economic, this necessary and laudable, that based on the movement and rightly criticized (because it is not natural, but based on deception mutual), rightly detests wear since there is money itself is the source of income and is not Already in use at the end for which was invented. Since the money came for the exchange of goods, but the wear makes money more money, so this property has also had his name interest. Because children are similar to their parents. And the wear out of the money is money, so between all modes of gain this is the most unnatural.»

35. How many users will have EkaBank?
    The system was designed to handle up to 10 billion users, including public and private entities.

36. EkaBank is anti-system?
    On the contrary, EkaBank is pro-system, even if it suggests a change of the current structure, that is no longer able to keep the system united. And we all must understand that the world economy does not change with empty talk nor with interest-bearing loans but putting real resources available to who wants to work and produce. With interest-free loans.

37. Why official language of EkaBank is Italian?
    EkaBank has no official language but the original text was written in Italian and then in that language has the most correct interpretation. There is no reason because be not so.

38. Can EkaBank provoke reactions of those who want to leave things as they are?
    Maybe so. There will be reactions and misunderstandings. Even by those who would benefit most from EkaBank. But it is a risk that someone must take if you really want to change. Not only for those whom share and understand the first but also for those whom oppose or do not understand right away. We must follow the suggestions of the great Poet who wrote «CoConto su di te.me after me, and let the people talk» and the great Pope who said «Don't be afraid». In Italian, in fact.

39. If platinum were to lose value, users would suffer a loss?
    Yes, but always less than it would experience if the account were denominated in one currency. Today, the platinum is also strongly underestimated compared to its cost of production, so the price can only increase. On the other hand, nothing is immutable. The platinum was chosen to minimize the effects of inflation. It is the lowest risk. However, EkaBank loans must be repaid over platinum quantity granted, so it must be refunded the same platinum quantity received.

40. Even among EkaBank users loans can be made: how can you prevent them from being with interest?
    Being able to request a loan directly to Ekabank, an EkaBank user has no reason to request a loan to another EkaBank user. In any case, the system indicates abnormal operations between users.

41. EkaBank has a banking license?
    Must not have it, because it does not receive money from outside the system.

42. Nobody gives anything for nothing!
    It's not true. There are those who gave their lives for others, that is more important than money.

43. EkaBank can also finance public debt?
    Who gave the resources to EkaBank has also offered to states, without interest. But states do not want a financial system without interest. And now it's too late.

44. Why does not finance banks?
    The current banking and financial system is unreformable.

45. What is not possible to do with EkaBank?
    Three things: you can not bring money in and out of EkaBank, you can not earn interest on lending money and you can not make unofficial payments.

46. Why it's not possible transfer money outside EkaBank system?
    When you pay a good or service through the bank, you should not pay the bank but who has sold the goods or delivered the service. The bank is only an intermediary that does not have to earn the money that passes at her. If anything, could only pay the service fee. If the opposite happens and you earn by lending money without producing real wealth, finance dominates the real economy. EkaBank has the only purpose of financing the real economy and therefore should prevent to earn by switching money.

47. You can get confused between EkaBank and KyberPay?
    No. KyberPay is a payment system that includes the activation of the account through a block of funds in a bank, the possibility of receiving outside money and transfer money outside. EkaBank is a credit system that includes the activation of the account without any conditions, and loans without interest and without charge, but absolutely forbids receiving outside money and transfer money outside. In essence, EkaBank use KyberPay adopting the 33 EkaBank rules and excluding all other KyberPay functions.

48. How is done the spread of EkaBank?
    In two ways: from production to consumption and from consumption to production. Apparently, it seems more interested who should pay and those who purchase goods and / or services. In reality, both the producer (starting with those who extract raw materials from mines and from those who produce food) and those who consume (or buy resources of production) is interested. The interest is mutual then: who produces and sells because it's interest to be paid and who consumes or purchases resources of production because they can pay.

49. EkaBank revolutionizes the use of money and credit?
    Yes, as the money should be a medium of exchange and not the purpose of the exchange, so the credit is a resource of production and not the purpose of enrichment.

50. Why EkaBank began operation only now?
    Because it's a resource that could be adopted only when all others had become ineffective. And this is happening now.

51. But, if all existing money circulates only in EkaBank, it would eliminate any free competition in the banking business?
    EkaBank did not ruling foreclosures but acts according to the facts. Making loans on trust, without collateral, without interest and without charge is the best we can do for those who need credit. If and when the banking system will finance at the above conditions, EkaBank will have no problem to open relations with it.

52. How can EkaBank have such huge capital?
    We confirm the answer to question 1. On the other hand, as stated in the presentation, far more incredible and paradoxical is the fact that the total nominal value of financial mass is tens of times higher than the total value of trade in goods and real services. But it is.

53. Why EkaBank not receive money from outside?
    Because it should ask for a banking license and the banking system would not be strongly agree for a bank that makes loans without interest. Only KyberPay, as system of payments, in accounts no EkaBank (which is a credit system), can receive and transfer money out.

54. How do I credit a EkaBank account for the levying of a present or future debt?
    By becoming EkaBank user who should pay.

55. Why is not possible to have meetings or telephone contacts with EkaBank staff?
    To maximize the time and also because each contact must be track and this can only be in writing.

56. Why the main version of EkaBank site is in English?
    Because with current instruments, the best translation in other languages is from English.

57. What means "EkaBank"?
    "Eka" is a Sanskrit word meaning "one".

58. How can use EkaBank whoever does not understand money and finance?
    The site shows a summary of money and credit basics. Following an audit turned out that they were understood by anyone who can read.

59. EkaBank will facilitate tax audits?
    The contrary: with EkaBnk is only possible to operate in full transparency, and which eliminates any any need for audit.

60. In the end, with EkaBank you can have whatever you want?
    With EkaBank you can pay for everything, but should be used to BE and not to HAVE.

61. What happens if someone buys goods and after he paid them by EkaBank sells them and receives the payment to another bank?
    We have already answered the question 22. It's like when someone buys goods and after they are paid with money loaned from a bank sells them and receives payment in another bank. This behavior is not always reprehensible. It is sometimes necessary. For example, you can use EkaBank to pay off debts already contracts with banks and other subjects. What counts is the intention and concrete action to repay to EkaBank the money loaned from EkaBank.

62. What effect would on EkaBank the collapse of the banking system?
    The banking system is destined to collapse. This will cause an acceleration of adhesions to EkaBank. If the collapse of the banking system will also cause the collapse of the legal tender currencies, EkaBank will use a new currency that will represent the value of platinum which are denominated EkaBank accounts.

63. But EkaBank can only work if everyone adhere!?
    EkaBank is a tool that spreads from below. Who has to pay is not interested in how many users are but that are users its creditor, ie those who must pay. And if they are not already, he will solicits them to become users.

64. EkaBank considers imminent the collapse of the banking system?
    Yes, unless they adopt the principles and rules of EkaBank.

65. EkaBank system can terminate or suspend?
    Impossible. Even those who created it and those who manage the system can not do it.

66. What effects can have EkaBank on capital flight?
    EkaBank causes a breakdown in the relationship between money and speculation because it eliminates the income and eliminates the possibility of using the money to exploit the labor of others, but can not prevent that the bank money can be transferred from one bank to another in different countries. To achieve this will require new universal rules that may be established by a world government directly elected by all the inhabitants of the planet. But that's another story.

67. What effects can have EkaBank on the shadow banking system?
    In the definition of the FSB (Financial Stability Board), the shadow banking system is the system of credit intermediation regarding entities and activities outside the normal banking system. These entities and activities include: the money market funds (MMF) and other types of investment funds or products with characteristics similar to those of deposits; investment funds that provide credit or are characterized by leverage, including funds traded on Exchange Traded Funds (ETF) and hedge funds; finance companies and securities that, although not regulated like banks, provide loans or loan guarantees or proceed to maturity and / or liquidity transformation; insurance and reinsurance companies issuing or guaranteeing credit products; securitization and securities lending transactions and repurchase agreements. EkaBank is a credit system alternative to bank with whom he don't wants to have relations and from which it can not «absorb» money. However, EkaBank deprives the speculative system of its real basis, that is, goods and services on which is founded the speculative process. In this sense, EkaBank contributes to the extinction of the whole finance employed outside the real economy and therefore also of the shadow banking system.

68. But 12.5 trillion dollars is an huge value!
    Yes, but in reality are little more than 1.5% of the notional value of OTC derivatives (official) and less than 0.4% of the total value of financial mass. It is that is needed (and how much, in total, can be made ​​available to EkaBank) to return the credit to the service of the real economy.

69. EkaBank can also work with complementary currencies?
    Yes, it could. However, by their very nature, complementary currencies can be very useful among individuals (affiliated) of the same area but they can never become universal payment method. To achieve this will need adopt an alternative currency to the legal currency, a world currency.

70. EkaBank manages real money?
    EkaBank manages legal tender money. If for money, either in the form of notes or pieces of metal, we mean a good or a currency with intrinsic value or which represents assets with intrinsic value, the answer is negative. No currency has or represents real values. Today, money is a title of credit with the expectation of being able to change it with goods and services. For this reason the legal tender was adopted. If the currencies had a real value there would not need legal tender. If, instead, for money we mean legal tender currency, money managed by EkaBank is the same money managed by banks. With one important difference: on the EkaBank accounts, currencies are kept constantly measured in grams of platinum, so that at any time the legal tender currencies would collapse, the account balances of EkaBank can be converted into a currency entirely guaranteed by a value equivalent to that of platinum.

71. How quickly EkaBank can be adopted by everyone?
    From computer simulations conform to the rules of emergent behaviors arising from the epistemology of complexity, when in every country three percent of the population with at least sixteen years of age will open an EkaBank account, the entire world population will open soon an EkaBank account. Emergent behavior represents a new level of evolution and can appear when a number of simple entities (agents) operate in an environment giving rise to more complex behaviors as a collective. The emergent behavior is a phenomenon that occurs in complex systems and especially in living organisms. The shape and behavior of a flock of birds or a gaggle of fish are good examples. Arises when some parts of a system that uses certain means with certain rules begin to use the same means with different rules. One of the reasons why an emergent behavior happens is that the number of interactions between the components of a system increases in combination with the number of its components, allowing the potential emergence ofnew and more imperceptible types of behavior. The properties of an emergent behavior can not be explained on the basis of the rules that govern its components: the set of subjects interacting agents in the new system behaves differently from the way they acted the parts in the previous system. The original cause of the phenomenon is the need to satisfy needs and desires by means of new solutions that propagate and emerge in the system to effect emulations. The answer to this need stimulates the increase of interactions and the number of subjects involved in emulation for the same answer. The ability to emerge depends on the number of agents, the number of interactions between them and the way in which they organize. If the structure (that is, the arrangement of the parts) that forms is hierarchical (pyramidal, controlled from the top), the emergent behavior overlaps the previous one with which coexists. In this case there is a phase transition, that is, the gradual transition of the system from one state to another through intermediate been progressive. If, however, the new structure is of conarchical type (circular, self-organized from the bottom), the emergent behavior radically replaced the previous behavior and evolves the whole system which performs a state jump, that is a sudden transition from one state to another without intermediate states. An example of state jump is the transition from an economy based on profit to an economy based on the satisfaction of needs. In the first is produced for profit, and is consumed to produce. In the second is produced in order to consume and consume to satisfy needs. A second example is the transition from a credit system based on guarantees and annuity to a credit system based on the ability, the will, the responsibility and on self-control. A final example is the transition from a monetary system based on money that is exchanged for commodity that is exchanged with more money (MCM) to a monetary system based on commodity is exchanged with money that is exchanged for other goods (CMC). EkaBank structure is of conarchical type. So, when it emerges in the financial system, foreshadows a jump from one state to another, a sudden shift from bank credit to participatory credit. On the planet there are about seven billion humans, five billion of whom have at least sixteen years of age. From the simulations appears that EkaBank will emerge (and then you will have a state jump) when about two hundred million people in the world have an EkaBank account (process).