Hi Monetha team, I have another question. When MTH token holders recieve their voucher in MTH tokens can this MTH voucher be exchanged on exchanges for other crypto currencies or can these vouchers only be used as spending on your partner merchant sites?
Hello Galactica, thanks for your question!
MTH holders will be able to spend these vouchers
only with e-commerce stores by Monetha's merchants.
Regards,
Monetha Team
I have few questions, how MONETHA differ from UTRUST. I have read both the whitepaper for me utrust sounds superior from monetha. Both are payment block chains based on the same concept as how PayPal works. Rod map looks similar for both.
Utrust have shown some advantage over PayPal in there white paper. They have payment protection in place. Do you provide any payment protection for the buyers or sellers. If you don’t have payment protection it’s unlikely to attract consumers.
The only advantage I can see is that you have a great experienced team. That make me to think to invest in your project.
Hello rejosh, thanks for your question!
As far as our payment protection goes, there are four aspects that we plan to implement:
A: There will be a chargeback pool in case of emergency issues, so that we can issue a refund to the buyer.
B: Every merchant will be registered with us as a legal entity. In case of any fraudulent activities - we will have all the details of the company, and will be able to take legal action if need be.
C: That's where DTRS comes to help - if a merchant has been in business for couple of years, trying to gain his reputation, it simply wouldn't make sense for him to lose the large amount of positive reviews to save money by not issueing a refund.
D: We’re preparing for this by prototyping and strategising an inclusion of an algorithm that would recognise and red flag an unusual behaviour from the merchant and the client. The solution might pivot as we will collect a significant amount of real data, because we need real data to be able to find the best solution to prevent scammers.
If we take a look at a bigger picture and other competitors, the most important feature of Monetha is DTRS (Decentralised trust and reputation system)
In Monetha, payments and trust will work flawlessly together. We are letting merchants accept mobile payments from their clients and at the same time ensure the trust for both the merchants and the clients.
The information needed to ensure a trustful relationship between buyer and seller (such as warranty) will be recorded onto the blockchain together with the payments (at the moment of payment). Smart contracts will automatically amend each party’s trust rating according to an algorithm that assesses the quality of the transaction.
Based on the information saved during the transaction (for example warranty), 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.
So for example, once the payment is made, the trust rate for merchant increases. If client makes a review, trust rate increases as well. If client makes a claim and merchant does not react to it, the smart contract decreases the trust rate. Different weights of how smart contract changes the trust rate will be assigned to different actions
Think about this use case: imagine you are a merchant from China. The only way to sell your products to the global world and be trusted at the same time is to be part of Alibaba. Moreover, if you suddenly decide to start selling on Ebay, there is no way you can transfer that trust rate you earned. However, Monetha is able to solve this issue, because it's reputation is easily transferable.
To add a point, it is worth mentioning that nowadays the reviews made on Amazon that are connected with confirmed payments are always prioritised by Amazon algorithm in the review list and carry much more legitimacy. With Monetha, every review is “linked with payment”.
You can read more about DTRS in our White Paper here:
https://www.monetha.io/static/media/Monetha_White_Paper.58f83d45.pdf
Or in this blog post here:
https://medium.com/@monetha/people-ask-me-what-is-your-main-strength-cf72c6fd2754You still not annonced hard cap? Why? And what your plans for hard cap? Very strange
Hello Gembira, thanks for your question!
As we mentioned before, we promise to announce our hard cap and maximum token supply this week. You can always subscribe to our newsletter to hear about this important update first!
Regards,
Monetha Team
