The idea of a bank
Didn't the previous Pope of the Spirit Hall ever consider a solution?
The answer is no.
Even Qian Daoliu, at that spirited age, must have thought about how to deal with this matter.
It should be understood that once this matter is handled properly, it will be an achievement that benefits the Spirit Master world and will be remembered in history.
But as the investigation deepened, a sense of powerlessness suddenly welled up in his heart.
First and foremost, there are many Soul Beast Forest on the continent, and these Spirit Hunting Squad are too scattered, making the situation extremely complex.
It's not that there aren't powerful members of the Spirit Hall patrolling the Spirit Beast Town, but these powerful individuals don't have X-ray vision, so how would they know what's happening in the forest? Besides, you can't judge a book by its cover, and most of the Blood Soul Squad in this line of work are seasoned veterans who have a million excuses to evade investigation.
After all, there were no witnesses in the Soul Beast Forest, so it was impossible to know whether the employer died in an accident or whether these people stole from him.
To resolve this matter, a prerequisite is the existence of a continental institution with enforcement power.
While it's feasible to have branches of the Spirit Hall across the continent, that's not their primary function, and they simply can't spare the manpower and attention to manage the Spirit Hunting Squad.
Furthermore, the strength of the Staff in the branch halls varies greatly, and some powerful Spirit Hunting Squad are not afraid of the branch halls' intimidation at all!
Qian Daoliu sighed and said to Wu Qi through telepathy, "Little Wu, I know you want to do something practical for the Spirit Master world, but this is clearly impossible. If you really want to change the current situation of the Spirit Hunting Squad, the simplest way is to establish a reputation ranking in each of the major Spirit Beast Town."
Qian Daoliu's suggestion was certainly good, and it was also the best solution he had come up with after thinking about it for half his life.
Establishing a reputation ranking is very easy, but it's clearly unfair to later teams.
As a result, well-regarded teams will emerge with an endless stream of orders, while new teams will be hesitant to hire them even if they lower their prices.
Ultimately, the chaos within the Spirit Hunting Squad stems from a lack of discipline.
Even if a ranking is established, what good will it do? In the long run, if the officials responsible for creating the ranking are corrupted, the consequences will be unimaginable.
Wu Qi gestured with his hand, interrupting the Elder who were discussing the matter.
"I already have a solution to your concerns, which is the main point I'm about to make. If this can be done well, it will become the Spirit Hall's cash cow in the future, and at the same time, it will be able to absorb a large number of redundant officials who have been laid off from the administrative system."
Upon hearing this, the Elder exchanged glances, their faces all showing joy.
Wu Qi had already given everyone enough of a shock today, but they hadn't expected there to be something even more important he hadn't said. The Elder listened attentively, afraid of missing a single detail.
Wu Qi turned to the last few pages of the white paper and had the Elder pass it around to each other.
The final major task was to establish a banking system based on the Spirit Hall's financial resources and reputation.
The bank's framework is similar to that of the previous life, but the Douluo Continent of today does not have the internet. The settlement system can only rely on traditional passbooks, but to prevent counterfeiting, Wu Qi added Soul Tool Anti-Counterfeiting Technology.
This was brought by Zhao Chenggong. This technology is mostly used in auction houses and pawnshops on the Sun Moon Continent to settle a portion of transactions.
Soul Tool Technology is not widespread in the Douluo Continent, and Wu Qi has strictly controlled it. Even if soul Soul Tool Technology Soul Tool Technology becomes widespread in the future, it will be extremely difficult for outsiders to break through the bank's anti-counterfeiting technology.
Upon seeing Wu Qi's plan for the bank, the Elder stared wide-eyed in disbelief.
Putting everything else aside, once the bank is established and promoted throughout the continent, the Spirit Hall will no longer have any financial problems.
The primary responsibility of a bank is savings and loan services.
In the Douluo Continent, bandits are rampant, and it is not easy to store large amounts of money. Some powerful families need to spend a lot of money every year to support a group of strong people in order to protect their gold and silver mountains.
If the money could be entrusted to the Spirit Hall for safekeeping and withdrawn at any time, this expense could undoubtedly be saved.
However, Wu Qi did not set interest rates on savings; money deposited in banks remained the same amount even after a hundred years.
However, the Spirit Hall has absolute credibility in this regard, and the money can be withdrawn at least a hundred years later.
In addition, the main source of income for banks is loan interest.
Once you have enough savings, banks can lend the money out as collateral for loans.
However, this is not without risk.
All of these assumptions are based on ideal conditions: customers who deposit money do not need the money in the short term, and customers who take out loans repay their loans on time.
"If a large number of merchants deposit money in the banks of Spirit City but withdraw it all from the banks of Heaven Dou City, the banks of Heaven Dou City certainly won't be able to come up with that much money in a short period of time. Wouldn't that break their promise?"
"Moreover, if these people put the money in the bank and then go to another place to withdraw it in a short time, wouldn't my Spirit Hall be bearing the risk and cost of transferring the money for nothing?" Qian Renxue questioned.
Wu Qi nodded slightly. "That makes sense. The existence of banks, and their issuance of debt, ultimately rely on depositors' funds as an anchor. If depositors don't keep their money long-term, it will be a significant blow to us."
"Therefore, in order to attract depositors, we naturally have to offer some benefits."
Interest is definitely not going to be paid. Commerce is not well developed in the Douluo Continent, and there are nouveau riche like the Seven Treasure Glazed Tile Sect who only hoard their money and don't spend it.
Interest rates are based on a large demand for loans. Given the current situation in the Douluo Continent, the demand for loans is not large. If high interest rates are charged, it will eventually drag down the entire bank.
It's important to understand that once a bank is established, it will inevitably be tied to the Spirit Hall's reputation. If a major problem arises, the impact on the Spirit Hall will be enormous.
However, giving small favors is fine.
When banks are established, some people will inevitably use loans to expand their businesses. In order to obtain loan amounts, these businessmen will certainly promise benefits to the banks, and these benefits can then be distributed to depositors.
For example, if a clothing store owner applies for a loan and wants to expand rapidly, issuing discount coupons and vouchers for the clothing store would be a good strategy.
In the past, when they distributed these benefits, they had to find people to hand them out on the street, and passersby who didn't need them wouldn't appreciate it.
If the funds are issued by the bank, it not only saves costs but also provides depositors with some benefits, making it a win-win situation.
Besides, there are more than just Clothing Hall in the city; there should also be grain and oil shops, carriage shops, and so on. If we issue multiple vouchers at once, there will always be people who need them.
Qian Daoliu chuckled, "Being generous with other people's money and profiting from my Spirit Hall's gains, and others will even be begging us to collect these vouchers. Issuing multiple vouchers at the same time will always have demand, and it's quite attractive to attract depositors. It's a good idea."
Customers who make fixed-term deposits receive larger amounts and more vouchers, and as long as their savings remain, they can receive additional vouchers every year. Depositors can even participate in a lucky draw to receive more benefits.