Web Address: https://www.monetha.io/

About Monetha

With Bitcoin and other cryptocurrencies becoming so popular in recent years, a need for trustworthy and reliable payment processors has never been as evident. Monetha is a brand new payment platform based on Ethereum which offers merchants and customers from around the world to make and receive fast and cheap digital currency payments.

While payment in digital currencies is nothing new, Monetha offers a fairly unique way to increase trust and reliability in a world where anonymity is so highly regarded. Monetha has created what they call a Decentralized Trust and Reputation System (DTRS), which allows customers and merchants to leave each other ratings when using Monetha as a payment method. By using the rating system, customers are able to see which merchants have a history of delivering the purchased goods in the promised condition and in a timely fashion and merchants can recognize potential scammers among the customers. Ideally, Monetha helps avoid fraud in every sense, while also providing a very fast and cheap way to pay and get paid.

A Deeper Look into Monetha

First launched in January 2017, Monetha is an invention of three self-proclaimed blockchain enthusiasts who came up with an idea on how they could potentially solve several major issues that occur with payment processing nowadays. It took the group only five months to create the Minimal Viable Product, a platform that actually allowed merchants to accept payments through Monetha’s platform.

Monetha’s main target market is in Asia, and the company is working with an intention of moving to Singapore, world’s centre of Ethereum based businesses, following its ICO which is set to begin on August 22nd, 2017.

The company owners, Justas Pikelis, Laurynas Jokubaitis and Andrej Ruckij have a vision of delivering a fully-fledged e-commerce solution including a wallet and an exchange as soon as 2019. Should they be successful, Monetha promises to solve a number of important issues for e-commerce businesses around the world.

Firstly, Monetha claims that their payment processing will be faster and cheaper than any other in the world. Currently, businesses are looking at between several hours and several days for payment processing, depending on the method of payment. With Monetha, a single minute is enough for a payment to change hands, going directly from the customer to the merchant, with no intermediary.

Furthermore, businesses are currently paying between 2% and 6% of the gross product cost for payment processing, with as many as 15 different fees being imposed by various payment processors. Instead, Monetha charges a single fee of 1.5%, making it not only the fastest but also the cheapest solution for e-commerce businesses to receive payments.

Finally, the trio behind Monetha understand the potential that digital currencies open for various types of fraudsters on both sides of the business world. As such, their DTRS creates a perfect business climate, completely negating any chance of fraud, with a reviews system quickly weeding out the scammers and leaving honest e-stores and customers with a great reputation and able to conduct business in lightning fast fashion. With ICO only days away, it remains to be seen how Monetha will fare in this emerging market.