Topic: [ANN] [ICO] MONETHA - Decentralised reputation with built-in payments - page 246. (Read 187501 times)

We will definitely do! We are now looking over the applications for translations. Stay tuned!

Please provide the translation into Indonesian....

A traditional weekly video blog which covers our progress of the past 7 days. Enjoy and leave a comment!

Video link: https://youtu.be/xLYuB6Epkx0

Thank you for joining the signature and avatar bounty luksbit! If you open up the link we provided bellow, you will see a date column. This is the date when we start counting the stakes. It's the date of your registration. A timestamp.


https://docs.google.com/spreadsheets/d/1ZvTighFmAfG3CTNQoiPE6uNxNgROsiboYLZtjarZgEE/edit#gid=0

Hope that answers your question.

The bounty campaign when you start counting the stakes? I'm participating in the Bitcointalk signature and avatar bounty. Thank you

Thanks for the question vuvanle120!

Regarding the 1.5% transaction fee:

1) 0.5% of 1.5% transaction fee will go to Monetha investors. So we are left with 1% as a company revenues.
2) Traditional payment gateway takes 0.25% + fixed fee as their company revenue from total fee which is around 3% + fixed fee. But the thing is that payment solution business is always a scale business. You have to generate a lot of transactions in order to be profitable. Having this in mind, we have almost four times the rate to do business with as compared with what an average global payment gateway takes per transaction as their revenues. Which gives us big "buffer" for growth until we reach the sufficient transaction volume.

Moreover, you have to remember that the merchant does not only pay a transaction fee when accepting payments with traditional payment gateways. There are bunch of other fees that merchants have to pay, such as:

● Retrieval Request Fees and Chargeback Fees are paid when someone claims for a chargeback. The best-known payment gateways such as PayPal and Stripe charge merchants a USD 15 chargeback fee.
● Flat fees that include: Terminal fees to buy the needed terminal for retail merchants, PCI fees paid to Payment Card industry for compliance OR noncompliance
● Annual fees, Monthly fees, Monthly minimum fees, IRS reporting fees, network fees , etc.
● Incidental fees that consist of: Address Verification Service (AVS), Voice Authorization Fee (VAF), Batch Fee, and NFS fee.
● Marketplace fees for Alibaba, Amazon, etc for “providing and facilitating” the trust system. Think about his use case: if you are a small merchant in China, the only way to sell goods to the global world and be trusted at the same time is to join the Alibaba. You won’t need to pay a fee for a payment gateway, but Alibaba will charge you a pack of other high fees.

When combined, it calculates to a high amount of money that the merchant has to pay per year for a payment processing.
Thus, we not only significantly decrease the rate merchant has to pay in order to accept payments, but we have more room to do business with.

There will definitely be a possibility to decrease the 1.5% fee for businesses that have huge transaction volumes.

3) We are not only a payment processor. Together with the payment processing comes the Decentralised Trust and Reputation system which is included in the same 1.5% transaction fee. Today, if merchants want to have a trust rate, he/she has to join one of the centralised marketplaces like Amazon, Ebay, Alibaba, etc, which charges merchant ridiculously high fees and most of the time hold money for a very long time. Other option is to pay additional money for services such as Trustpilot which does not work as it supposed to while leaving a lot of so called "empty space" between very bad and very good comments.


Regarding online and brick&mortar:

As you can see in our product development timeline on our website or White Paper, the last milestone is to enter the Retail (physical brick&mortar) stores once we have a fully functioning and working solution with Decentralised Trust and Reputation for e-commerce.

E-commerce is converging with physical commerce through mobile and new transaction technologies in the traditional world that leverage the mobile technology: strong authentication, NFC communications and Tokenization of traditional payments. So our target market is much bigger then online.


Hope that answers your questions!
Monetha Team

If you're able to reduce numerous transactional steps why do you need to charge 1.5% fee. It seems a little steep to me. Are you planning to provide better fee rate for businesses that have tons of transactions or this will be a 1.5% flat fee?

Is Monetha going to be an online payment gateway only? Or are you also planning to issue physical card so consumers can use at  brick & mortar stores?

well...ok..good luck anyway 

Thanks for the question lilaj4de. The signature and avatar bounty will end once the ICO ends.

Will the Bitcointalk signature and avatar bounty end at the end of ICO? Or in 2 months? Success in project

Sounds like a very interesting project. I'll be definitely keeping an eye on it!

I have joined the signature campaigne. Whether in Monetha ICO there is a social media campaign.? I hope there is a social media campaign like facebook and twiter. Hopefully Monetho ICO project success...

Thanks for the question majestymage and sorry for the late response. As shown in our bounty page (https://www.monetha.io/en/bounty), we do not need a Romanian translation.

Thanks for the interest.
Monetha Team

Still no response to my offer to translate your project. Not interested on a romanian translation?

Thanks for the comment tauceramica, but you are misinformed.

First of all, Lithuania is not a Slavic country (it would be similar to calling a Chinese person Japanese). Geographically it is considered to be a Northern Europe country (Finland, Sweden, Norway, Denmark) and politically Lithuania is being considered as a Baltic country (Lithuania, Latvia, Estonia).

Baltic countries are very well known for its educated and talented people, especially in the IT development and in both the traditional startup scene (Skype, TransferWise, Pipedrive, Vinted, Yplan, TransferGo etc.) and in blockchain (Edgeless (Top 65 coin), Mysterium Network (raised over $15M in their ICO), Polybius (raised over $31Min their ICO)).

Second of all, the Monetha is actually very diverse and its team received 9 out of 10 rating in the most popular ICO rating site "ICO Tracker" (that's even before a former PayPal executive and one of the most influential figures in online trust and reputation joined Monetha).

5 out of 12 team members are not Lithuanian (2 are from the United States, 1 from the UK, 2 from France) and all of the other team members have international software development and business experience in countries like the US, UK, Israel, UAE, France, Singapore, Sri Lanka, Malaysia and many others.

We're happy that ICO concept enables strong projects to raise capital no matter of their geographical location, skin color or false nationalistic stereotype.
The way investing in startups should be.
 

good luck guys
join signature campaign
success for MONETHA ...

Really a good project, it seems that the site has no bounty for social networks: https: //www.monetha.io/en/bounty. i Joined in Signature and avatar

I had never suspected Lithuanians and Latvians were Slavic
I think looking at whitepaper and fundamentals of a project could be a better criteria...

You know when I get away from a project? When I see people from the same country in the team, I never invest that project. This people are all like Slavic like Lithuanian, Latvian or something which break my trust easily.

Sonm project is a super example of this. They totally failed.

Alway seek multinational projects.

nnice  project. could not participate in signature campaign now. will there be social media campaigns?

good luck dev.