Our decentralised trust and reputation system (DTRS), powered by smart contracts, works flawlessly with Monetha’s payment processor. We let the buyer see trustworthy and transparent reviews made by previous customers.
Commerce and trust need each other, but current systems are complicated. We use smart contracts to simplify the relationship.
What does it do? Our decentralised trust and reputation system (DTRS), powered by smart contracts, works flawlessly with Monetha’s payment processor. We let the buyer see trustworthy and transparent reviews made by previous customers.
How does it work? The information needed to ensure a trustful relationship between buyer and seller (such as warranty) will be recorded onto the blockchain. Smart contracts will automatically amend each party's trust rating according to an algorithm that assesses the quality of the transaction.
Creating a decentralised commerce of trust This is revolutionary. Based on the information saved during the transaction, clients and merchants will be able to file/solve a claim, rate each other, view ratings etc. Their history is then recorded onto the immutable Ethereum blockchain so that others can make well-informed commercial decisions.
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Raised really a lot but I still have not heard about any achievements. Introduction of such ideas could massively help overall blockchain technology adoption.
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Three blockchain and payment enthusiasts came together for an epic venture into shaking up the payment processing industry.
2
Minimal Viable Product (Self-funded/May 2017)
Having worked on prototyping, strategizing and building a team around the project, we built a fully working MVP with which merchants can accept Ethereum payments in their e-commerce store.
3
ICO (August 2017)
First priority after the crowdsale is to gather the best team possible and attract talented and accomplished people from payments, blockchain, Fintech industries. We will move our operations to Singapore, which has a huge Ethereum community and extremely good business environment for fintech startups. Moreover it has a great connection to our go to market - Asia.
4
E-commerce (EUR 700K/Early 2018)
Develop a fully functioning payment gateway for ecommerce merchants, enabling them to accept ETH and leverage the first version of decentralised trust and reputation system.
5
Full e-commerce solution + exchange to FIAT currency (EUR 1,7M/Mid 2018)
Accept Ethereum tokens, and enable merchants to exchange Ethereum tokens to their local currency and transfer funds to their preferred account. Smart contract wallet, real-time analytics, and a dashboard for merchants.
6
First step towards decentralized reputation system: Monetha Wallet (EUR 3,5M/Late 2018)
Monetha Wallet for clients + Loyalty program + Significant improvement of the decentralized trust and reputation algorithm.
7
Full functionality of the decentralized trust and reputation system (EUR 5,5M/Early 2019)
This phase will allow us to fully develop a globalized trust system powered by smart contracts.
8
Retail (EUR 7M/Mid-Late 2019)
Develop and introduce a decentralized payment, trust and reputation system for retail merchants. Roll out Monetha as a payment option to retail merchants, allowing physical stores to accept mobile payments from Ethereum based currencies, and exchange to their preferred local currency.
