Hello everyone,
Thanks for your concerns and opinions about exchanges. Your opinion has been heard, and everything regarding exchanges is in consideration and being discussed internally.
If you watched our last Q&A you have heard that the hiring process with Kellogg is in final stages.
As far as the development goes, our development team has been making some changes to our MVP, but it's not published on GitHub because it includes proprietary information which we want to keep private to have a competitive edge. If you have any questions regarding our development, you are welcome to ask them on our upcoming Q&A this week with our CTO Andrej!
Regards,
Monetha Team
Do you also offer buyer protection?
I think this could be an essential feature for success of this idea.
Hello acorcos, 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.
Regards,
Monetha Team