EVE General Discussion

Um..aren't those also the two largest problems with banks in real life that got us into the financial crisis?

I'd like to see long term "borrow" contracts in place, though I'm sure somehow they'd be abused in a way that'd be broken.

Player A & Player B sign a contract that will regulated by Player C (perhaps a dedicated corp for this). Player A borrows from Player B (ship, money, whatever) for a certain time. Once returned (perhaps with interest), contract is completed. If goods are not returned, ISK is taken from Player A's wallet and given to Player B (or maybe items just return to hanger). If "A" does not have enough to cover it will be an additional tax to their income.

Player C regulates the contract, grants extensions, etc, and is paid a small fee for doing so. Scamming can happen by new "throw away" accounts players borrowing, then transferring it off to another character. Paying off Player C to void contracts.

Corps form banks, lend to players, regulated by a third party. Still possible scamming, etc.

Though this might prevent people from purchasing PLEX to get ISK, by just borrowing it from other players. Which we can't have now, can we?

Anything that is player run would be subject to fraud because we're all just looking for that big score to make the headlines with.

But I can conceive of a payday loan sort of operation for smallish amounts. If you want a loan, you meet the loan officer at a hisec planet in noob ships. Borrower targets and kills the loan officer, thereby giving him a killright. Borrow gets the isk. If the loan isn't payed within a week, the loan officer makes the killright available to everyone for the cost of the loan. Borrow lives with the killright for the next 3 weeks.

Probably still wouldn't work to make a profit for the bank. Might be entertaining though.

All banks are scams, in real life and in game.

We already have reputable eve banks. Erotica 1 and all her scum can attest to that.

The trouble is, most of the Eve banks that were successful were 100% accountable and paid out exactly when they were meant to. They were all really proper (internet spaceship) banks for all essential purposes.

The trouble happens when one of the people with the most access gets bored and abscond with everything. You can't stop that, it's always going to be possible. Just like technically speaking it's possible now with real banks. You could put a limit on single transactions, so that no one could move 500b in one go. That might give people the chance to stop the rest from going missing.

That's atually the idea behind the kill rights system. it should still be possible for one of the top CEO's to do this, just like in real life. The change would be that everyone working for the bank and everyone who deposited money with the bank would now have a killright on them.

EDIT: also, this would feature permanently on their credit history so that they would never be able to work for a banking institution again.

the benefit is that you earn interest on your isk, at a slightly or greatly increased risk. This is opposed to the current system where most people have their isk stuffed under the mattress doing nothing in particular.

Rather than start with a bank, it’d be better to start with something simpler. The introduction of a lending type of contract would be an interesting addition to the game.

This contract would be between two parties (including corps or alliances) and involve a loan amount, an interest rate, a repayment period (months, weeks, days, etc.), term (how many months, weeks, days, etc.), and potential for collateral. The party creating the contract would be the one setting all the variables.

Once this detail was input, the servers would calculate a repayment amount based on the input and make the contract available for all to accept. Once accepted, the servers would hold the collateral in escrow (this would occur in station and be similar to what happens during manufacturing) and place the payment amount somewhere in the borrower’s wallet (assuming a new screen that keeps track of all the outstanding debts). The borrower would make their periodic payments until the contact was satisfied and the note was paid in full. Those payments would be directly placed in the lender’s wallet. Once the contract was completely paid, the borrower would receive their collateral (if any) back at the station they created the contract in.

For defaults (i.e. non-payment), this could operate on a three strikes rule; the borrower would be allowed up to three late payment defaults before the lender was allowed to accelerate the contract and collect the collateral. If the borrower lapsed more than a complete period on payment, the lender could accelerate the contract and collect the collateral. The key point here is that the borrower has to screw up a little before the lender can do anything. Also, the lender may contact the borrower and choose not to accelerate right away but work it out instead. This would be completely up to the parties involved. Edit: if the note was accelerated, the lender would get the collateral but lose all right to future payments from the borrower.

The details of the borrowing contracts could be made available for others to see. There could be an area of the character screen that relates to completed or failed contracts. The amount and repayment periods would be listed in this section showing how many periods there were and how many payments were made on time or late and what the final result of the contract was, i.e. paid in full or charged-off. The full details (who borrowed to/from, interest rate, repayment period length, etc.) of the contract could be made available via the API, should the borrower want a large loan and be willing to provide them.

That’s my .02 isk anyways.

would probly need to make is so you cant delete or make a char on an account that has an open lending contract
so at the least, anyone borrowing money is gonna exist till the loan is repaid