The Sandlock mobile application team announced via a medium post on 27th September that they will be hosting a Tezos-built blockchain project on their platform.

This soon to be integrated platform is the ‘MoneyTrack’ decentralized ledger network. MoneyTrack was developed to serve the direct money arena i.e. gift cards, consumer credit & compensation of insurance to replace the existing poor records systems. Built on a blockchain network, MoneyTrack aims to create a trustworthy ecosystem for beneficiaries & their lenders.

MoneyTrack blockchain ecosystem will be powered by its native token ‘MTK’. These altcoins will facilitate the digitization of transactions & configurations of requests with specific features like expiry dates. The MoneyTrack blockchain network will use a Proof of Transaction to verify the processing requests as per the smart contract agreements between financers & beneficiaries.

Furthermore, the infrastructure protocol used to design MoneyTrack allows small businesses to leverage the platform’s blockchain services. They can develop their own DApps for integration with directed money.

The whole MoneyTrack idea is beneficial to all contributors within the network. Financers will be able to reduce operation costs by making their processes simpler with blockchain integration. Beneficiaries on the other hand won’t have to worry about the execution of their contracts and merchants get income from creating this market.

Tezos Network

As of press date, the MoneyTrack blockchain development is among the pioneer platforms that Tezos has launched within its community. Its design has been accredited to a group of French Academic researchers & engineers.

The Tezos blockchain network leverages the zero knowledge proof Tech & formally verifies smart contracts to keep the transactions confidential. This new smart contract oriented blockchain network has a self-governing ecosystem upholding the decentralized aspect of digital ledgers. Not long ago, Tezos had a launch for its pioneer version and has since encouraged the crypto community to try its efficiency!

Sandblock Mobile App Tezos Campaign

This initiative is a new industry concept, it is meant to give the masses information about Tezos activities specifically the newly added MoneyTrack. Participants might receive rewards given that 300,000 MTK tokens have been set aside for this purpose. These will be the MTK stakes ‘SMTK’ tokens.

Users who remain actively updated with the developments in this project stand a better chance of gaining the SMTK reward tokens. This is because the criteria for rewarding will be based on a comparative basis between what one user has accumulated against that the total collections.