Monetha Introducing a cutting-edge mobile payment platform developed on Ethereum, Monetha leverages smart contracts and a pioneering decentralized reputation mechanism. It's a blend of processes found in PayPal and TrustPilot, aiming for an ICO launch on August 22, 2017, seeking 95,000 ETH at its peak with a 402,400,000 token ceiling.
Monetha's goal is to streamline the payment process, promising lower fees—a mere 1.5%—compared to the common 2-6% by competitors. While credit card and banks delay merchant payments for possibly weeks, Monetha looks to hasten this to under two minutes, albeit subjected to Ethereum's occasional congestion due to heavy ICO traffic, with ambitions to reach a million transactions per second. they aim to fix with Raiden Their Decentralized Trust and Reputation System (DTRS) is a cornerstone, analyzing merchants and customers alike to establish trust scores—imagine an Amazon rating system, but embedded into the blockchain.
This system proactively updates itself with every new review, claim, or dispute, effectively deterring fraud, charge-backs, or faulty goods, which are pressing issues in today's global eCommerce sphere.
Details within the DTRS get recorded on the Ethereum blockchain, ensuring a permanent, unchangeable record to assist users in wiser buying and selling decisions.
Could Monetha redefine the payment processing market? Cryptocurrencies' potential for mainstream online shopping faces skepticism, yet Monetha's ICO merits further exploration.
The brains behind the enterprise include co-founders Andrej Ruckij, Justas Pikelis, and Laurynas Jokubaitis, with Eric Duprat steering payments—they draw from his PayPal tenure as Mobile Division General Manager.
Whitepaper
Here is the Whitepaper for Monetha.
[pdf-embedder url=”https://level-up-casino-app.com/wp-content/uploads/2017/08/Monetha_WP.pdf”]The Team
Monetha looks to have a solid team - Heads of Sales and Merchant Acquisition
Members of the Team:
- Andrej Ruckij – Co-Founder/Technology
- Eric Duprat – Payments lead
- Kellogg N. Fairbank - Leads of Decentralized Trust and Reputation
- Dr. Jean-Marc Seigneur - Specialists in UI/UX and Frontend Development
- Justas Pikelis – Co-Founder/Business
- Laurynas Jokubaitis – Co-Founder/Product
- Viaceslavas Ruckis – Engineering lead
- Alex Bazhanau – Principal Ethereum Engineer
- Erikas Malisauskas Andrej Davidovic – Expert Software Developer
- Martynas Adomaitis – Smart Contract developer
- Kickstarting on August 31, 2017, the crowd sale rounds off on September 30, 2017, carrying a soft threshold of €7 million and a Hard Cap standing at 95,000 ETH. Tokens, totalling 402,400,000, will see 60% drafted for sale; 10% for advisory, rewards, and promotional endeavors; while 15% supports a loyalty scheme, and the team holds another 15%, secured for a year under smart contracts.
Advisors:
- Sean Harper – Product and Payments
- James Downton – Marketing advisor
- Nik Rokop – Business advisor
- Robertas Visinskis – ICO advisor
ICO Details
Post-ICO, the firm plans a strategic migration to Singapore, recognized for its thriving Ethereum aficionados and the nurturing fintech ecosystem, as echoed by the CEO today.I appreciate the reserved 10% of tokens for the team, locked in a smart contract for a year, motivating them to elevate the token's value.
They've already crafted a functional MVP, offering a WordPress plugin alongside a Magento extension. outlined his plans for the company once the sale is over.
In addition, they've devised a simple 'Buy Now' mechanism usable on any webpage. It starts with setting up an Ethereum wallet,
MVP
Pair this with your website and Ethereum details to dive in, which you can download from their site and test out.
Although not groundbreaking, the team is formidable, entering a colossal domain—about $3.6 trillion cycles through payment processors yearly. Securing even a minor fraction could enhance their worth. MyEtherWallet and then contact them Whether the public adopts cryptocurrencies for online spending regularly is a question still open. A tussle with major players like PayPal is conceivable, but Monetha's roadmap hints at a 2018 e-commerce solution accommodating fiat conversions. Plus fierce competition from
Conclusion
, a formidable Asian entity with robust retailer networks.
Yet, Monetha stands apart with its Decentralized Trust and Reputation innovations—an invaluable project component. The immutability of the Ethereum blockchain aligns perfectly with recording trust and transactions, amplifying their distinction. Omise Go The consumer launch is projected for 2019, suggesting a long-term ICO commitment might yield substantial gains if Monetha seizes parts of this vast, lucrative space.
Blockonomi's Editor-in-Chief and Kooc Media's founder. A staunch advocate for Open-Source, Blockchain, and an equitable Internet.
His insights have garnered attention from Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch, and beyond. Reach out at [email protected]
