• Austin Jones

SoshWallet Uses Blockchain To Make Banking Transparent



The world of finance is changing. The old way of doing things, where banks can charge high fees and hide their numbers behind closed doors, no longer works. New technologies are allowing us to see more about the inner workings of our finances and how we can improve them over time. Banks that embrace these changes will be able to maintain their relationships with customers for years to come! While banks have yet to offer group bank accounts that give access to large numbers of people, SoshWallet is changing this with the transparent group banking app. Compatible with all major banks.


There are also some new technologies that will help with transparency. One of these is blockchain. Blockchain is a technology used to record transactions across a network of computers, without the need for a central authority. It can be used to create decentralized databases and store transactions that are cryptographically sealed, making them tamper-proof. This means that you don’t need an intermediary party (like your bank) to confirm or verify these transactions; they’re verified by everyone on the network instead. SoshWallet utilizes the best blockchain technology with Ethereum through Amazon Web Services.


In banking terms, blockchain could be used as an alternative way of storing information about money transfers between people or institutions—a more secure method than traditional methods like paper documents or emails because there's no way anyone can alter the data once it's entered into this digital ledger system without permission from all parties involved in creating those entries. You could even see banks using blockchain technology themselves in order to offer better customer services like faster payments and easier access. While banks aren't adopting blockchain on a large scale yet, SoshWallet is!


Transparency can lead to a better banking relationship.


Transparency is key.


The more transparent your bank is, the better understanding of your financial relationship with them and your group you will have. This can lead to a more positive relationship, which in turn leads to fewer issues and problems down the road.


More transparency in banking can improve relationships and results.


There are many reasons why transparency is important for the banking industry and its customers. One of the most important reasons is that it can help build trust between banks and their customers. In fact, research shows that relationship-driven businesses that use transparent business practices have greater consumer loyalty than those that don’t (1). This means that if you want to keep your customers coming back for more, you need to start being more transparent with them—and they’ll reward your efforts by continuing to do business with you.


SoshWallet wants to help your business, your organization, your group bank together transparently!


Transparency is the key to building a better relationship with your bank. As technology continues to grow and evolve, more options will become available for you to see what’s going on in your account. This can help improve transparency within banking and give customers more control over their finances. If you want more transparency in your organizations finances, use SoshWallet!

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