RE: Money School: What Is A Bank?
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Right now, we need a place where people deposit their money. And this place would provide safe keeping by putting the money in a vault, which keeps it safe.
Do you think that we would be allowed to do this?
What would we call such a place?
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Depends upon what money is and the form it takes. I do not believe it is cash anymore so we have to switch it up.
To answer your question, I would say we call it a wallet (digital).
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