Decentralised trust and reputation
Commerce and trust need each other, but current systems are complicated. We use smart contracts to simplify the relationship.
What does it do? Our decentralised trust and reputation system (DTRS), powered by smart contracts, works flawlessly with Monetha’s payment processor. We let the buyer see trustworthy and transparent reviews made by previous customers.
How does it work? The information needed to ensure a trustful relationship between buyer and seller (such as warranty) will be recorded onto the blockchain. Smart contracts will automatically amend each party's trust rating according to an algorithm that assesses the quality of the transaction.
Creating a decentralised commerce of trust This is revolutionary. Based on the information saved during the transaction, clients and merchants will be able to file/solve a claim, rate each other, view ratings etc. Their history is then recorded onto the immutable Ethereum blockchain so that others can make well-informed commercial decisions.
- Decentralised trust and reputation working together with payment processing for global commerce: together with payment all the information needed to enable a trustful relationship between the buyer and the merchant are recorded (such as warranty). Smart Contract, automatically adjusts each party’s trust rating depending on their actions: file/solve claim, rate, write a review, make a purchase. - Payment processing to accept Ethereum based currencies and exchange them to fiat automatically or upon request. - In-built loyalty program which gives clients a 0.2% of every purchase in
Start of the company (January 2017)
Start of the company
Minimal Viable Product (Self-funded/May 2017)
Minimal viable product
ICO (August 2017)
E-commerce (EUR 700K/Early 2018)
Full e-commerce solution + exchange to FIAT currency (EUR 1,7M/Mid 2018)
First step towards decentralized reputation system: Monetha Wallet (EUR 3,5M/Late 2018)
Full functionality of the decentralized trust and reputation system (EUR 5,5M/Early 2019)
Retail (EUR 7M/Mid-Late 2019)
Attention. There is a risk that unverified members are not actually members of the team
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