• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Breaking: Digital Currency Group (DCG) Pulls The Plug On TradeBlock: The End Of An Era?
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Digital Currency Group (DCG) Pulls The Plug On TradeBlock: The End Of An Era?
No Option but to Innovate
Advertisement

Monetha Challenges PayPal’s and Trustpilot’s Status Quo with the Ethereum Blockchain

Bitcoinist by Bitcoinist
6 years ago
in Press releases
0
Advertisement
Advertisement

Lithuania-based blockchain start-up Monetha offers a more efficient and safer crypto-payment gateway system through Ethereum-based payments. The company has recently announced the date of its much-anticipated ICO.

[Note: This is a press release.]

Claim the JACKPOT with 55 FREE SPINS. Signup today to redeem your bonus.

Ethereum blockchain based mobile payment processing company Monetha

Ethereum blockchain based mobile payment processing company Monetha is powered by smart contracts with a decentralized trust and reputation system. Monetha’s service offers a faster, safer, and cheaper, decentralized payment gateway alternative to the current system employed by most of the today’s retailers and merchants. Monetha is best summed up as a combination of PayPal and Trustpilot, run on the Ethereum blockchain. The fintech company has announced its upcoming ICO campaign, which will commence on the 22nd of August 2017.

Monetha’s decentralized trust and reputation system (DTRS) uses smart contracts that integrate flawlessly with the payment processor. It is designed to build trust between buyers and sellers by recording vital information like product warranty and more regarding the transactions on the blockchain. A built-in algorithm analyzes the reputation of the users and assigns trust rating to each party. The trust rating is constantly adjusted based on the reviews, records on claims and disputes and more.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

By doing so, it solves the trust problem associated with transactions, especially when it comes to online purchases on domestic and international sites. It solves the lifelong trust problem between the parties, helping them avoid pitfalls like scams, charge-backs, and faulty goods, etc. Apart from e-commerce, Monetha’s decentralized trust and reputation system is also compatible with retail applications.

The co-founder and business lead at Monetha, Justas Pikelis said:

We are very excited to start the revolution of global commerce by bringing trust and efficiency for both the merchants and the clients.

Users can purchase products from all over the world in any Ethereum-based cryptocurrency and Monetha will automatically convert their chosen cryptocurrency back into a fiat currency of their choice. The platform generates a QR code that can be scanned by cryptowallets for making payments, and once the transaction is initiated, the merchant will receive the funds in typically under a minute, and they have to pay no more than 1.5% as commission.

Monetha’s system is both easy, fast and cheap, compared to the current centralized alternatives. Monetha’s unique service guarantees all parties safety through the Ethereum blockchain and the ability for both parties to give each other ratings, to help improve their reputation.

Despite the presence of a range of payment gateways and processing service providers, merchants continue to face a lot of issues due to multiple steps (up to 15 steps at times) involved in the process, starting from setting up to settlements. Also, the transaction and services fees associated with traditional gateways are generally at the higher end. Merchants usually end up paying anywhere between 2% and 6% per transaction. Whereas, the Monetha service involves a single step and costs a fixed transaction fee of 1.5%.

Monetha also offers an added advantage in terms of processing time, which might vary with conventional payments solution providers. The waiting times for processing payments on standard gateways range from minutes to hours or even days. They also come with complex claim and chargeback procedures which could prove costly to the merchants. Meanwhile, payment processing on Ethereum blockchain is 10,000 times faster at 20% the price.

Monetha Co-Founder and Head of Technology Andrej Ruckij summing up what Monetha means to merchants said:

With no centralized Authority, it’s literally like a merchant becoming his own bank.

Monetha’s mission is to become a strong force in the global commerce, offering a reliable, transparent and decentralized payment gateway to all users worldwide.

Launching in January 2017 Monetha has a meticulously thought out roadmap leading to 2019 when its services aim to reach full maturity. Currently, in phase two, Monetha has already put together a capable team, finished strategizing and gone through comprehensive prototyping. The phase three in the company’s timeline involves the launch of its token sale, starting 22nd of August 2017, which they believe will be a significant step towards turning the minimum viable product into a finished product.

Monetha’s decentralized trust and reputation system takes every facet of traditional e-commerce and retail and improves on it. With their groundbreaking, unique service and a successful ICO Monetha has the potential to revolutionize the way payment systems function around the world.

Learn More About Monetha

Resource Links:

  • Learn more about Monetha at – http://www.monetha.io
  • Access Monetha whitepaper at – http://www.monetha.io/static/media/Monetha_White_Paper.050930a4.pdf
  • Follow Monetha on Facebook – https://www.facebook.com/Monetha.io
  • Follow Monetha on Twitter – https://twitter.com/Monetha_io
  • Join Monetha’s Slack channel at – http://slack.monetha.io/
  • Follow Monetha on Telegram at- https://t.me/monetha_io
  • Follow Monetha on Reddit –https://www.reddit.com/r/ethereum/comments/6iln7f/a_brief_overview_and_critique_of_the_monetha/
  • Follow Monetha On Medium – https://medium.com/@monetha/welcome-to-a-commerce-that-is-trusted-globally-e4340274dcda
  • Monetha Blog – http://www.monetha.io/en/blog

Media Contact:

Contact Name: Justas Pikelis
Contact Email: justas@monetha.io
Company: Monetha
Location: Vilnius, Lithuania

Monetha is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.


Images courtesy of Monetha, AdobeStock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Bitcoinist

Bitcoinist

Bitcoinist is the ultimate news and review site for the crypto currency community!

Related Posts

Making Green or Being Ecofriendly: AltSignals Presale Wins Over Ecoterra Fans

Making Green or Being Ecofriendly: AltSignals Presale Wins Over Ecoterra Fans

1 hour ago
Bware Labs Launches $INFRA Token, making high API performance possible within a decentralized Web3 infrastructure

Bware Labs Launches $INFRA Token, making high API performance possible within a decentralized Web3 infrastructure

2 hours ago
This Polygon (MATIC) rival is predicted to reach a $1B Market Cap in 2023 itself, a great buy opportunity for long-term holders

This Polygon (MATIC) rival is predicted to reach a $1B Market Cap in 2023 itself, a great buy opportunity for long-term holders

3 hours ago
The Hype of the InQubeta (QUBE) Presale is so Impressive that Analysts See it As The Best Crypto 2023

The Hype of the InQubeta (QUBE) Presale is so Impressive that Analysts See it As The Best Crypto 2023

3 hours ago
Can Cardano Reach $1 In The Next 3 Months? Tradecurve Has It Sights Set On 3000% Growth

Can Cardano Reach $1 In The Next 3 Months? Tradecurve Has It Sights Set On 3000% Growth

5 hours ago
Shiba Inu (SHIB) and RenQ Finance (RENQ), are the only 2 cryptos to trend on Twitter this week

Shiba Inu (SHIB) and RenQ Finance (RENQ), are the only 2 cryptos to trend on Twitter this week

6 hours ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • Making Green or Being Ecofriendly: AltSignals Presale Wins...

    1 hour ago
  • Bware Labs Launches $INFRA Token, making high API...

    2 hours ago
  • This Polygon (MATIC) rival is predicted to reach a $1B...

    3 hours ago
  • The Hype of the InQubeta (QUBE) Presale is so Impressive...

    3 hours ago
  • Can Cardano Reach $1 In The Next 3 Months? Tradecurve Has...

    5 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.