they cheated the whole community ! Download the app and try it.
They promised :
Monetha whitepaper : https://ico.monetha.io/Monetha_WP.pdf
2018 :
Phase 1: E-commerce and first version of the trust rating - EUR 700k
Goal: develop a fully-functional payment gateway with a user interface for e-commerce merchants and enable them to accept ETH currency while leveraging first version of trust level mechanism. Time: early 2018
Phase 2: A full e-commerce solution to accept Ethereum-based tokens and
exchange them to fiat currency: EUR 1.7m Goal: accept not only Ether currency, but also Ethereum-based tokens and enable merchants to exchange Ethereum currencies to fiat currency and transfer funds to their preferred account. Moreover, smart contract wallets, real-time analytics, and dashboards for merchants will be introduced during this stage Time: mid 2018
Phase 3: A Monetha Wallet for clients + Loyalty program + Significant improvement of decentralized trust and reputation algorithm: EUR 3.5m
Goal: make a significant step towards a fully working decentralized trust and reputation system: improvement of decentralized trust and reputation algorithm together with Monetha smart contract based mobile wallet for making/solving claims, rating merchants, writing reviews, etc. Review purchase history, see clients’ and merchants’ trust rating, etc. Finally, the loyalty program will be enabled during this stage of development. Time: late 2018
Roadmap on icobazaar : https://icobazaar.com/v2/monetha/roadmap
June 2018 Full e-commerce solution + exchange to FIAT currency. Accept Ethereum tokens, and enable merchants to exchange Ethereum tokens to their local currency and transfer funds to their preferred account. Smart contract wallet, real-time analytics, and a dashboard for merchants.
App is usless and community was cheated .
-There is no marketplace
-You have to find seller on facebook, amazon, craiglist and tell him to download monetha app and give you his phone number + he has to make a new sell offer on monetha app for you.
- no payment
-no fiat
-no wallet
Just download it and you will see, i dont know where money went, Justas said devs are paid over 5k but this...
Topic: [ANN][ICO] Monetha - ICO Review (Read 697 times)
Read the full review with ratings here
Monetha is creating a decentralized, blockchain-based payment solution with an integrated trust and reputation system, which is what differentiates it from other cryptocurrency merchant solutions such as BlockPay, Coinpayments, Coss.io, and others.
Every transaction made with Monetha will be recorded to the blockchain including the time of the transaction, product details, receiving and sending addresses, warranty conditions, delivery time, and any other relevant purchase information. The information will be hashed and available only to authorized parties, but accessible to both merchant and client on the Monetha app. Based on this information, clients and merchants will be able to rate one another, as well as file and resolve claims, all of which will also be recorded on the blockchain. Moreover, a trust rating will be assigned to every wallet address and automatically adjusted every time a transaction is made, a claim is filed or resolved, a review is written, etc. Smart contracts will automatically (algorithmically) adjust the trust rating of a merchant based on customer ratings and reviews as well as responsiveness to claims, and that of a customer based on purchase and claim history. These trust ratings will be visible to other merchants or customers. Unlike ratings in centralized marketplaces, which are not influenced by unrated or unreviewed transactions, Monetha ratings will be automatically influenced by all transactions to varying extent. And furthermore, Monetha will allow users to transfer or export their accumulated reputation to other platforms.
Being a cryptocurrency based payment solution, Monetha naturally aims to make the payment process cheaper, faster, and more efficient than it is using traditional payment gateways, by reducing the need for intermediaries. When clients choose to pay through the Monetha gateway, the purchase amount will be converted to a selected cryptocurrency in real-time and a QR code will be generated for the customer to scan and approve with their crypto-wallet. The payment will then be transferred to the merchant’s wallet in approximately 2 minutes, and converted to the merchant’s preferred fiat currency via Kraken or other exchange API. Merchants will be able to choose the fiat currency, conversion frequency, time of deposit to their bank account, and other options. Monetha will not be able to suspend, hold or prevent any transaction – permissionless transactions will be guaranteed by their smart contracts. However, in its whitepaper, Monetha says that it will screen every merchant to ensure that only valid and authentic merchants use the platform, and that it plans to include an algorithm to recognize and red-flag unusual behaviour.
For its services, Monetha will charge merchants a transaction fee of 1.5% (with no chargeback fees), of which 1/3 (0.5%) will go to a “Voucher Smart Contract” for token holders and the remaining 2/3 (1%) will go the company as revenue. The voucher smart contract will provide token holders with the ability to claim a voucher proportional to the amount of tokens that they hold, to use as a discount or gift-card when shopping with Monetha. In addition, every purchase made with Monetha will reward the customer with 0.2% of the purchase value in Monetha tokens from the loyalty program pool. Other loyalty discounts will also be available.
To date, Monetha has developed an MVP which provides merchants with a Monetha payment gateway script that can be integrated into any shopping cart or website (some scripting knowledge is required). Merchant-side functionality enabling rates, limits, and automatic exchange to local currency are still to be developed. Also, while the whitepaper provides sample workflows illustrating the purchase and claim processes and how they affect the trust rate for both parties, the number, detailed structure, and functionality of the smart contracts will be defined and finalized during development. Monetha’s stated goal for the platform’s beta version is to provide an online e-commerce payment platform which enables mobile payments in Ethereum-based cryptocurrencies, as well as to show the potential of its trust and reputation system, and to work with merchants to test and improve the solution.
Monetha plans to partner with major payment providers such as First Data or e-commerce platforms such as Shopify, and has former PayPal executive Eric Duprat as well as former Braintree executive Kellogg N. Fairbank on its lead team, along with co-founders Andrej Ruckij (formerly VP Development and Strategic Initiatives at Adform), Justas Pikelis (a Lithuanian entrepreneur who has previously founded IT and robotics companies), and Laurynas Jokubaitis (who, along with Ruckijj, co-founded Wowtto), as well as Dr. Jean-Marc Seigneur (Chief Reputation Officer at GlobCoin; has published over 100 scientific papers on computational trust and online reputation management). Other team members include engineering lead Viaceslavas Ruckis, principal Ethereum engineer Alex Bazhanau, product design / front end developer Erikas Malisauskas, smart contract developer Martynas Adomaitis, and software engineer Andrej Davidovic. The company’s advisors include Sean Harper, James Downton, Nik Rokop, Paolo Rebuffo, and Robertas Visinskis.
Read the full review with ratings here
Monetha is creating a decentralized, blockchain-based payment solution with an integrated trust and reputation system, which is what differentiates it from other cryptocurrency merchant solutions such as BlockPay, Coinpayments, Coss.io, and others.
Every transaction made with Monetha will be recorded to the blockchain including the time of the transaction, product details, receiving and sending addresses, warranty conditions, delivery time, and any other relevant purchase information. The information will be hashed and available only to authorized parties, but accessible to both merchant and client on the Monetha app. Based on this information, clients and merchants will be able to rate one another, as well as file and resolve claims, all of which will also be recorded on the blockchain. Moreover, a trust rating will be assigned to every wallet address and automatically adjusted every time a transaction is made, a claim is filed or resolved, a review is written, etc. Smart contracts will automatically (algorithmically) adjust the trust rating of a merchant based on customer ratings and reviews as well as responsiveness to claims, and that of a customer based on purchase and claim history. These trust ratings will be visible to other merchants or customers. Unlike ratings in centralized marketplaces, which are not influenced by unrated or unreviewed transactions, Monetha ratings will be automatically influenced by all transactions to varying extent. And furthermore, Monetha will allow users to transfer or export their accumulated reputation to other platforms.
Being a cryptocurrency based payment solution, Monetha naturally aims to make the payment process cheaper, faster, and more efficient than it is using traditional payment gateways, by reducing the need for intermediaries. When clients choose to pay through the Monetha gateway, the purchase amount will be converted to a selected cryptocurrency in real-time and a QR code will be generated for the customer to scan and approve with their crypto-wallet. The payment will then be transferred to the merchant’s wallet in approximately 2 minutes, and converted to the merchant’s preferred fiat currency via Kraken or other exchange API. Merchants will be able to choose the fiat currency, conversion frequency, time of deposit to their bank account, and other options. Monetha will not be able to suspend, hold or prevent any transaction – permissionless transactions will be guaranteed by their smart contracts. However, in its whitepaper, Monetha says that it will screen every merchant to ensure that only valid and authentic merchants use the platform, and that it plans to include an algorithm to recognize and red-flag unusual behaviour.
For its services, Monetha will charge merchants a transaction fee of 1.5% (with no chargeback fees), of which 1/3 (0.5%) will go to a “Voucher Smart Contract” for token holders and the remaining 2/3 (1%) will go the company as revenue. The voucher smart contract will provide token holders with the ability to claim a voucher proportional to the amount of tokens that they hold, to use as a discount or gift-card when shopping with Monetha. In addition, every purchase made with Monetha will reward the customer with 0.2% of the purchase value in Monetha tokens from the loyalty program pool. Other loyalty discounts will also be available.
To date, Monetha has developed an MVP which provides merchants with a Monetha payment gateway script that can be integrated into any shopping cart or website (some scripting knowledge is required). Merchant-side functionality enabling rates, limits, and automatic exchange to local currency are still to be developed. Also, while the whitepaper provides sample workflows illustrating the purchase and claim processes and how they affect the trust rate for both parties, the number, detailed structure, and functionality of the smart contracts will be defined and finalized during development. Monetha’s stated goal for the platform’s beta version is to provide an online e-commerce payment platform which enables mobile payments in Ethereum-based cryptocurrencies, as well as to show the potential of its trust and reputation system, and to work with merchants to test and improve the solution.
Monetha plans to partner with major payment providers such as First Data or e-commerce platforms such as Shopify, and has former PayPal executive Eric Duprat as well as former Braintree executive Kellogg N. Fairbank on its lead team, along with co-founders Andrej Ruckij (formerly VP Development and Strategic Initiatives at Adform), Justas Pikelis (a Lithuanian entrepreneur who has previously founded IT and robotics companies), and Laurynas Jokubaitis (who, along with Ruckijj, co-founded Wowtto), as well as Dr. Jean-Marc Seigneur (Chief Reputation Officer at GlobCoin; has published over 100 scientific papers on computational trust and online reputation management). Other team members include engineering lead Viaceslavas Ruckis, principal Ethereum engineer Alex Bazhanau, product design / front end developer Erikas Malisauskas, smart contract developer Martynas Adomaitis, and software engineer Andrej Davidovic. The company’s advisors include Sean Harper, James Downton, Nik Rokop, Paolo Rebuffo, and Robertas Visinskis.
Read the full review with ratings here
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