If there is a universe, and if there are citizens within it that want to trade and create businesses and cater to customers and create value for themselves and others, what do they do with the excess value? Where to store value?
Bank Facilitator
A BankFac makes it easy to deposit and withdraw spare value. Often referred to in terms of money, and in particular currencies of various kinds, a BankFac includes banks and non-banking financial institutions that run a ledger for their clients, recording credit and debit of value as they move it in and out of the system.
Payments
A very simple and obvious function facilitated by a BankFac is of payments - accepting them from others, and sending them to others. Payment processors and gateways, issuing banks and merchant banks, the whole complex industry arises when we speak of payments, but the function is simple: moving money from one point to another.
Banking
Apart from payments, a BankFac also facilitates interest, credit and loans, and other financial services. Governments around the world usually require banks to be licenses and operated under strict regulations. A BankFac itself does not need to be a bank, just as a ComFac is itself not the business that is being facilitated.
Currency
And in what units shall we record and track the creation and transfer of value? What units shall we measure money in? How can we compare value in mathematical terms when created in different markets?
The answer: any thing can be a currency, as long as it has the above properties. It used to be coins and notes and then digital but fiat currencies.
Crypto
And now blockchain gives us the ability to create limited quantities of digital items. This ability to limit copies of original digital tokens allows for programmatic shared truth and removes the centralized control on the number of currency notes. Cryptocurrencies are not a new concept, but new technologies make it 1-click easy to create and manage.
A BankFac should handle and manage both fiat and crypto. And by corollary, any other type of asset across physical and digital varieties should also be able to go in the vault.
Lending
We already mentioned credit and loans, but a BankFac makes most of their money through facilitating capital through things like consumer credit and commercial loans. This capital facilitation function is what a CapFac does.
