Utrust doing Monetha dirty by getting a leg up & having their ICO three days before Monetha does. Looks like the same concept all the way through. Has anyone looked at this at all?
I would also like to know how both of them compare.
Hello gentlemen, thanks for your questions!
If we take a look at uTrust and Monetha, one clear point stands out - Monetha has Decentralised Trust and Reputation System, which is transferrable, powered by Smart Contracts, which hold all the information about the purchase (warranty, buyers info, etc.), and adjusts the ratings automatically.
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.
Our token holders can benefit by receiving a voucher proportional to the amount of tokens he holds from a third of our revenue, or if he spends MTH tokens, he'll receive a loyalty reward (more about it in our whitepaper).
Regards,
Monetha Team
