The current banking system forces business to hold and manage money as a bank which incurs costs and risks that we pay. We can break this model through direct payments to all parties as it happens.
Be in control of your cash flow
Let’s switch from dumb money of the plastic card or paper to smart money where the payment goes to all parties at once, whether 1c or $100 and not into the invisible banking model due to the constraints of the current banking process.
We do this through your wallet that allows payments directly to the providers where ever they are without the fees and time restrictions the current banking system imposes on us.
We can then remove the banks' costs incurred through credit card charges (3-6%), slow processing times and minimum fee constraints that force a business to become a bank. This adds more fees as the business pays to handle those funds (bookkeeper, risks, cash flow) and leaves fewer funds to pay out to the real people who delivered the service or product.
We have operating businesses in the Yoga space and have experienced the pain and decided to fix it.
"I can now have the student pay the teacher as the class happens, and my landlord as well saving me bank and bookkeeper costs, a 7.9% saving."
During covid we built an online Yoga platform to allow teachers to follow their passion and be rewarded. We found that to reward them as we wanted, we need to fix a bigger problem, the constraints of the banking system that was placed on us. Vault3 was born from this as we joined with Celo who followed our beliefs of a better world.
A community can now be a country and capture the value for themselves.
For too long, the communities who inspired us have been used as targets for big business, banks, and governments to extract value from them. It is time we rewrite this as we now have the ability to allow a community to become a country with its own internal economy.
Vault3 is bringing the new pay-everyone-at-once payment rail that removes all intermediaries and allows direct value transfer and connection between each, resetting the worth value and allowing value to stay inside the community.