46 min listen
Justas Pikelis, Founder of Monetha–Decentralized Payment System with Merchant Trust Ratings Using Ethereum Blockchain
Justas Pikelis, Founder of Monetha–Decentralized Payment System with Merchant Trust Ratings Using Ethereum Blockchain
ratings:
Length:
37 minutes
Released:
Oct 16, 2017
Format:
Podcast episode
Description
Described by its users as the next generation PayPal with built-in trust, Monetha was founded on the idea that merchants cannot be given trust without transactions occuring. Monetha has two parts that work together. The first is a payment processor on the Ethereum blockchain, powered by smart contracts. The second, and more important part, is a decentralized trust and reputation system for online merchants on the platform, allowing users to see and contribute to trust ratings. When users pay for transactions, their transaction is rated by a smart contract system that looks at not only the value of the transactions, but whether the user experienced any issues, had to return their purchase, and a number of other data points collected both during and after the transactions. Though Monetha is currently for online merchants who allow payments to be made in Ethereum-based coins, in the future they hope to allow fiat transactions, and expand to brick-and-mortar merchants. For more information, visit www.monetha.io.
Released:
Oct 16, 2017
Format:
Podcast episode
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