Here’s our 25th AMA recap!
Thank you to the Infinity Chain Club for participating in Ask Me Anything (AMA) with MonetaPro on December 11, 2020. This guest star,
Stephen Meade — Founder & Chairman
Introduction
Stephen Meade,
My name is Stephen Meade. From USA, and in Beverly Hills/Los Angeles.
I’m a life-long entrepreneur, having created several successful companies over many years.
Going back a ways, when I was 22, I went to work for a financial services company call Travelers Group. I ran sales training and over 6 ½ years I read over 357 books and trained over 8,000 sales people.
Reading those books helped me develop a 10-step process called “The BullsEye Belief” system, which I used over the years to create and build the companies.
In total, I’ve started 11 companies, five of which we were the first one in the world to have done something in that space.
My first e-commerce company was started in 1996, went Public in 1999 with a market cap close to $1 Billion. This initial company and technology is what went on to become PayPal.
In total, I’ve had three Public Companies in the United States, and the technology has ranged from ecommerce, enterprise software, homeland security, mobile technology, and FinTech.
I created MonetaPro in 2018, which I saw what was going on the world of Blockchain and Crypto. I knew that what we could build with MonetaPro would be better than anything that I saw occurring in the industry.
And, with our ongoing successes, I was right.
If you want to quick “about me” video, you can check it out here- https://youtu.be/ni0NtVxlp6Q
Q1. Starting with the very basics, can you provide a simple description MonetaPro for our Community? How did you get idea create MonetaPro?
Stephen Meade,
For the first part, MonetaPro, is a Fintech/Blockchain company and a very large space of what’s called Corporate Barter.
This is a $17 Trillion industry and it is where large companies trade assets with each other.
Items like cars are traded for computers, or food for oil, or even media for airline seats.
If you think of a company like Amazon, which is a web based marketplace, it’s primarily for Business to Consumer, and has an average sale of $84. We have built a marketplace, but for B2B where the average transaction for trade is over $1MM.
The MonetaPro exchange provides a centralized global trading venue for companies to trade with existing partners as well as find new ones. Locating a trading partner is as simple as entering the type and amount of goods or services desired within the powerful search engine designed by MonetaPro. Negotiating and executing trades are both fast and easy.
Tracking and reporting trade activity is in real-time.
We have built the systems, and integrated port of our invoice systems into the IBM Blockchain- so we are one of the few early companies in the world that has gone live with an enterprise platform.
All aspects of ownership become decentralized and recorded, and the audit trail becomes more transparent and efficient. The system utilizes leading-edge, private blockchain technology to deliver better efficiency, more liquidity, and trust to the global trade industry.
The overall result? Lower transaction costs, ease of locating a new trade partner, executing a trade, and tracking each trade from start to finish.
The platform and systems are built and have started to roll out. We have created the MON Token to be able to trade outside the system.
As far as competition, we have not seen any direct competitors for the Global Trade space.
Even further, speaking of “competition”, MonetaPro has competed and WON eight global blockchain startup competitions around the world. That is actually more than any other company on the planet.
So, not only have we not seen any direct competition, the MonetaPro project was deemed one of the best against “ALL” other blockchain projects.
This idea with MonetaPro actually was first an idea for me in the year 2000 (almost 20 years ago). The idea was to build a global electronic currency for business payments.
I had just sold my ecommerce company which was doing credit card transactions (Think PayPal before PayPal), and I wanted to revolutionize business payments. But, the technology did not really exist to build a system.
With the advances in technologies, databases, Internet, and Blockchain, the opportunity was there to build and launch MonetaPro.
We will be successful in building a Global Marketplace and creating a more fluid way for business to work with countries around the world. Dubai as an example, used to trade over $17B in food, but stopped because it was too complicated to do without an online platform. That is what MonetaPro does.
The MON Token sits outside of the MonetaPro platform and can be traded, or returned to the company. Inside MonetaPro, the GBUC credit can change the way B2B commerce is done on a global basis.
So, we believe MonetaPro could be one of the global successes not only in Blockchain and Crypto, but something like Amazon as well. Amazon in only a B2C platform, meaning Business to Consumer. It has an average sale of $87.
MonetaPro is the worlds first B2B platform. In the business to business world for Corporate Barter, the average transaction is $1.5MM, so much bigger trades and opportunities.
MonetaPro can be successful on both worlds.
We have a small, experienced and dedicated team who has built the technology and created other successful companies. So, the team is small but capable.
We have advisors as well which are very experienced and involved.
You can see the team also here- https://monetapro.io/ama-dataroom/
Q2. What are the advantages of MonetaPro that makes it unique compared to competitors?
Stephen Meade,
MonetaPro also has several advantages over other projects.
1- Completed Technology
MonetaPro is not a project like so many opportunities in the Blockchain space. We have a completed technology and closed-loop market place. It is running currently on AWS (Amazon Web Services) and is highly scalable for hundreds of thousands of concurrent transactions. MonetaPro has enterprise functions like hierarchy controls, user rights and authorities, credit controls, negotiation modules and more. This makes MonetaPro the only technology platform in the world, that we are aware of, which can function for B2B in a massive market like Global Barter. For the MON Token, we completed the regulation with Malta to become a VFA (Virtual Financial Asset), which makes the MON Token one of the few that have past the rigors of approval, which has helped created that as a legitimate project
2- Blockchain Integration
MonetaPro investigated many different blockchain integrations. In the end, we worked with IBM to build the first ever Blockchain (actually IBM Hyperfabric) integration into SAP and Oracle. The ability for the MonetaPro invoice to communicate directly with the large accounting systems of Multi-national corporations, sets the platform apart from other technologies. Again, as far as we are aware, MonetaPro’s use of blockchain for asset management, supply chain, and audit trails, make the system very unique and valuable.
3- Big, big market
1. Most companies look for a $1 Billion dollar size market. For MonetaPro, we have $17 Trillion dollar market- which is B2B Corporate Barter. This actually rivals the size of the Amazon Market- which is B2C and estimated at $20 Trillion. This means MonetaPro has an opportunity capture and own a significant part of a large global market. MonetaPro is still the only company that has built a completed, B2B technology platform for such a large market. This means MonetaPro has a big opportunity to be successful.
4- Experienced Team
We have a team of people who has built other successful companies in the USA, and in Finance. This means we have built and created systems before. Many of our Team come from Finance and Software and have created or run public companies.
5- Partnerships
We have completed a partnership with Artis Trade Corp). This is a 30-year-old company which has done over $1 Billion in prior Corporate Trade. The agreement is for Procur to start bringing on several of their clients for trading. There are three that are close to completion ($100MM+ in machinery, $15MM+ in Billboard Advertising, and $50MM+ in aeronautics equipment.
So MonetaPro is built and ready to launch. The MON Token is generated and ready to list.
And we are ready to build a successful company and have a successful token.
Q3. What is the use case for the MON token? How do you make sure it captures the value of the ecosystem you are building? how much supply is available?
Stephen Meade,
The MON Token is an ERC-20 token, which means it easy to list, trade, and sell. The MON is being offered for the AMA at $0.05. We have some time bonuses for instance, any contributions in the next 24 hours gets a 50% discount to $0.025, and it goes up over the week. We have been approved on two exchanges and are working on a third (which would also allow US investors). Our goal is to have our final approval and go live on an exchange within a few months. This would mean the MON would be fully traded on an exchange. And, we have an alternative liquidation opportunity.
Within MonetaPro platform, we have an internal unit (not a blockchain token or crypto) called a GBUC, which stands for General Business Usage Credit. This internal GBUC is always equal to $1.00. If you participate in the AMA offering, you will have the option to “return” your MON token to MonetaPro. The Company will then issue you a GBUC credit for each MON token. This means your MON token purchased at $0.05 will always have a trade-in value within the system equal to $1.
Think of MonetaPro sort of like Ripple, where that is the technology, and the XRP Token is traded separately from the ripple technology for banks. The MON token is traded separately, but it can be returned to MonetaPro for a $1 GBUC- which again makes us very unique with two different liquidity options.
But, we have something unique as well. We have a “conversion” option for the MON Token holder, where you can choose to “return” your MON to the company, and MonetaPro will offer you a separate GBUC inside the system. This means you can convert your MON Token for a $1 return. The GBUC will then be available to use on items which will be available in the MonetaPro Marketplace.
Think of it like having a $1,000 store credit in Amazon, that could only be spent in Amazon. The GBUC act like a store credit inside MonetaPro.
The total Supply of MON is 300MM.
With the conversion option of MON to GBUC, it acts as a type of “buy back” guarantee, and also a type of Token “Burn”, as this will remove tokens from the total supply in the Market and return them to the company.
We believe this adds value to the MON Token as the Presale price right now is $0.05 (with some bonus available), and will be able to be sold on a future exchange, or returned to the company for a $1 credit.
Again, we have a full video on our tokenomics available here- https://monetapro.io/ama-dataroom/
Q4. Can you share about the Presale MonetaPro? How do we join the presale?
Stephen Meade,
The Presale has started now and is priced at $0.05. We are only looking to do about $1.5MM-$3MM total for the presale.
We did a prior private round in 2018/2019 in which we raised about $3MM, which went to building, enhancing, integrating and completing the MonetaPro technology platform.
We believe there may be one more phase, if needed, to raise an expansion round.
The Token has been created as an ERC-20 unit, which makes it easy for transfer, trade, and sale.
To get involved in the Presale, we’ve created a Uniswap account to make the purchase very easy.
The address is here for those who are interested:
0x60b88f7f48d46f0e5c3540a2c9b25b4d64632d23
We also have lots more information, including introduction videos, tokenomics, narrated powerpoints and even a demo of the completed system.
We have also received approval on two exchanges, which we are evaluation.
We will use a $100,000 promotion program with the Top PR firm in the industry- Michael Terpin and Transform Group. They have helped launch 37 of the top 100 tokens.
So, we have lots of support to help back up the Token and the Community.
All of that is available on the web site; https://monetapro.io/ama-dataroom/
Q5. Can you explain the MonetaPro roadmap now? Are all targets according to the current road map? and what are the next steps to be taken in the future?
Stephen Meade,
MonetaPro has had many milestones. When we first put the project together in early 2018, there was a lot of excitement around Blockchain. But, there was also a lot of competition for good projects. We took about doing Global Startup Contests to see where we stood as a project and other companies.
1- MonetaPro ended up winning EIGHT global contests (more than any other company in the world), all of which validated the MonetaPro project, company, and opportunity. We set about finishing the marketplace, another milestone.
2- We completed the MonetaPro technology platform and stress tested it to over 300,000 concurrent transactions.
3- From there, we got an investment from Amazon to move the platform to AWS.
4- Next up, we spent months with the team from IBM to integrate our invoice system into the Hyperfabric (milestone)
5- and then launch that component on the AMBS (Amazon Managed Blockchain Services) which was another milestone.
6- For the MON Token, we worked with the Country of Malta to help craft the legal framework to become a qualified VFA (Virtual Financial Asset), and we passed rigorous testing and qualifications to get approved and certified. It was important for us to have the MON be qualified and accepted, as that helps add confidence in the project.
7- We have started to file some patents and IP with one of the Top 25 law firms in the world, we have had successful conversations large companies which have provided inputs on how to improve our systems.
For the next 6 months, the goal in to finalize a few of our early charter member companies to launch in MonetaPro, and to finish with the exchange listing for the MON token.
For the roadmap moving forward.
We are focused on building a successful company and project. Much like building a Public Company where you want to increase shareholder/token holder value, you do that by creating a company that generates revenue, has customers, and makes big progress.
Our team has built other successful companies, and believe MonetaPro will be as well.
The MonetaPro platform is built, tested, and ready to scale and roll out. There is no direct competition yet that we have seen, so our opportunity to be the first Global B2B Marketplace is tremendous.
MonetaPro is not a local solution, it is global. A single company like Ford Cars can trade with hundreds of other companies around the world. So a single company on MonetaPro can bring lots of other companies on to do more trading.
We are looking at a long term company to be successful. Where Amazon has done really well, and is really big — but it is B2C (business to consumer). We want to be the same, except in B2B space.
TWITTER QUESTIONS
Q1. The last publication on Twitter of Moneta Pro was in March, the project has been paralyzed since then? Are you reactivating it again? What happened in those months of absence?
Stephen Meade,
Yes. Good question.
We were ready to launch with MonetaPro corporate customers in March/April and with the exchanges in the Summer. Wil COVID in March, it slowed down the conversations with the big companies.
Those have now picked up again.
But, it’s true as we haven’t done a good job keeping up with Twitter and the social side.
You can see from a prior question, we have hit many milestones and made much progress.
We’ve spent the last few months really working on getting the MonetaPro system complete, integrated and ready to go.
We are now ready!
Q2. How is the Proof of Ownership, what is required and how is it verified? How long does it take, would it slow down the transaction process?
Stephen Meade,
The GBUC, which again the “internal trade unit”, is NOT on the blockchain. It is technically called a ledger credit, and thus can only be used internally.
As an internal credit, the GBUC exists on the MonetaPro database, and thus can settle “IMMEDIATLY”, which makes it better than a blockchain credit.
The GBUC does not have proof sequences because it is not a blockchain token, so again, there are no settlement issues, no speed issues, and no time lag.
The MON token just operates as a normal ERC20 token that can be swapped or traded on an exchange.
The GBUC acts differently and is only available for use inside of the MonetaPro marketplace.
The GBUC enables a company to sell goods, earn the GBUC credit, and then spend it on other items (all of which occurs without blockchain).
So, if you participate in the PreSale (which we hope you do), you will make the purchase with ETH or BTC and well will deliver the MON to your wallet.
You will then own the MON and will be able to trade it on a exchange, we hope, for a much higher value.
But, if you want to, you can return your MON to the MonetaPro company. We will then take your MON token and “Issue” you GBUCS in the system.
So, if you purchased a MON on the presale at $0.05 (or lower with the bonus discounts), you will be able to return it to MonetaPro for a $1 GBUC value.
That means we have a return built in for the MON.
We hope to have a really big marketplace of Good and Services. There are big industries that do corporate trade, and we hope to bring them on. Some of the items that could be available would be cars, computers, travel, hotels, media, shipping, electronics, advertising, and more.
We have the MonetaPro system built, we are now just starting to add in customers.
Q3. MonetaPro Multi-Party Trading System provides a 1: multiple trading solution: via GBUC. Can you explain more, what is GBUC? How do both investors and MonetaPro benefit from each other?
Stephen Meade,
Current companies do most corporate trade manually and one-to-one. MonetaPro has created a one-to-many where company can list goods, receive GBUC credits, and then use those credits to buy other items.
You never convert to cash or fiat, you can conduct international transactions, and you can do all of this within a closed, trusted market.
For the adoption, we have focused on large companies with a history of trading. This means if we get a few large companies, they will bring on their existing trade partners as part of the MonetaPro Platform.
Where most complex trades are done manually, MonetaPro is a platform which makes it very easy to do several things for companies.
We have the following.
1- easy to list your item
2- set your own price
3- when sell an item receive GBUCs
4- use our search engine to find other items
5- easily acquire the items
6- Blockchain updates inventory modules
7- blockchain writes and provides an audit trail.
Because MonetaPro has a hierarchy feature, you can easily move credits around from a sales department to purchasing, etc.
So, we take what is very manual for companies and automate it inside a global technology platform.
For the companies, we use a formula I created called ELT=V, which is Efficiency, Liquidity and Trust= Value. For big companies, if they are doing Trade, it is manually done.
So, we provide an efficiency with the technology platform. Liquidity comes from the companies existing Trade Partners, so we don’t have to promise to bring them new customers, the Company can trade with other companies they know.
This leads to the “Trust” part, where companies can trade with others that they already know and trust.
And we do something really cool with Pricing to eliminate currency fluctuation risk by “floating” the price.
This part is important too. For the Blockchain component with IBM provides another level of trust. We use to blockchain for TWO things. 1- to update accounting modules. And 2- we write a blockchain contract for an audit trail. This can prove that items (say $1MM in cars as an example), were removed from inventory and transferred to a third party within MonetaPro. You need to prove those items were moved and not just stolen, so the trust of the blockchain can provide that audit trail.
This means we are using the Blockchain as an enterprise solution for really big companies. We are still one of the few companies in the world to complete a platform, test the technology and successfully integrate in with IBM.
Q4. What percentage of the market do you believe you can capture with your solution ? Do you have any user count targets for the next few years based on the above?
Stephen Meade,
This is a good question and we’ve made good progress and continue to make more. As mentioned above, on the technology side, we completed the MonetaPro platform and launched it on Amazon after an investment from them.
Then, we completed the IBM integration and Amazon hosting for Blockchain.
On the customer side, we recently completed a sales partnership with Procur Global Services (formerly Artis Trade Corp). This is a 30-year-old company which has done over $1 Billion in prior Corporate Trade. The agreement is for Procur to start bringing on several of their clients for trading. There are three that are close to completion ($100MM+ in machinery, $15MM+ in Billboard Advertising, and $50MM+ in aeronautics equipment.
We are also in discussions with several other large companies with a history of trading, and also several Countries who also do Corporate Trading (which they call “swaps and flips”. Several of the countries in the UAE (United Arab Emirates) used to do a massive amount of Corporate Trade (mostly around Food, Travel, and Oil/Gas), but they stopped because there was not an easy way to track the trades and provide a good audit trail to make sure only legitimate partners were participating.
MonetaPro solves all the problems for Countries to trade with other approved Countries and Companies.
So, are partnerships early, but they are big opportunities and still growing.
As a target, here is a breakdown of the companies we are going after. Our goal is to get 1–3 of these really big companies to start using MonetaPro for all of their trading, which would mean they would help bring on other companies.
And, the trade volume they are doing manually, could all come into MonetaPro. :)
We like to compare MonetaPro to Amazon.
Amazon is Business to Consumer.
MonetaPro is Business to Business.
So, we do not compete with Amazon, but have the same kind of opportunity.
This would make MonetaPro and the MON a big opportunity.
Q5. How having a Multi-party trading system contributes to the goal of blockchain transactions that aim to be trustless? How many intermediaries need to be trusted to use MonetaPro and how is it still secure and private?
Stephen Meade,
Yes. We are working for that!
For the technology, we have already invested many millions of dollars into building the technology, doing partnership with IBM, and getting approval through Malta as a qualified VFA Token.
We have taken many, many steps to not only make sure our project is successful, but also we wanted to be part of the new regulated environment moving forward.
Getting approved in Malta means we have taken steps that few other companies in the world have done. This was important to us at MonetaPro as well because our actual Customers are the largest companies in the world.
The MonetaPro platform and technology was completed and passed major stress testing to be able to handle hundreds of thousands of transactions per second.
We were then able to complete an integration between our invoice and IBM Hyperfabric Blockchain, and then have that IBM Blockchain hosted on Amazon Manage Blockchain Services (AMBS).
We have started to file some patents and IP with one of the Top 25 law firms in the world. This will allow us to defend our technology in the world.
There have been many successful conversations large companies which have provided inputs on how to improve our systems.
MonetaPro is technically a “closed-loop” system. This means all transaction occur only within the system. With the GBUC, it’s an internal credit that can only be spent in the system.
The GBUC can’t be stolen, used, or traded outside of the MonetaPro system, so that makes us very secure.
For MonetaPro, all companies have to be approved in the system and we control the amount of credit they receive and the trading they can do.
By only working initially with really big companies, it is easy to verify and validate all of the people who use MonetaPro as a trade platform.
We have spent the last 24 months in building the platform, winning contests, creating patents, speaking on panels and presenting, and dealing with some of the largest Companies and Countries.
We have VERY vested in making MonetaPro successful as a global platform, and we want to build something that can rival Amazon (not compete with Amazon as we are B2B, so a different space), but a successful project that can have a major global impact. We want to be successful in doing something no one in the world has done before.
This will also help us drive and ensure the value and price of the MON Token, which is on interest to all of us, including members of the team.
We are looking to raise additional capital now for sales people who can help bring MonetaPro to market.
For the IBM Blockchain part, that also provides trust, but we are only using blockchain as an inventory management and audit trail solution.
So MonetaPro is a closed-loop technology, and the IBM blockchain is built into our solution.
All of that makes us a private, trusted solution.
TELEGRAM QUESTIONS
Q1. @Eiadayfick
Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to $Your platform and keep them long term.
Stephen Meade,
Yes. I have created several Public Companies in the USA which were on the OTC (which is a small cap company). It is very similar when you have a public stock that you have to create a good marketing program to drive interest in the Token, increase interest in the community, AND increase customers to use the MonetaPro platform. We have Transform Group to help us create additional PR and News and to drive awareness and interest.
Plus, again with the global conferences we speak and participate in, there is always more and more interest. And, to have market makers in several different countries, we believe we can drive awareness and value and increase the MON Token price.
We are focused on building a successful company and project. Much like building a Public Company where you want to increase shareholder/token holder value, you do that by creating a company that generates revenue, has customers, and makes big progress. Our team has built other successful companies, and believe MonetaPro will be as well. The MonetaPro platform is built, tested, and ready to scale and roll out.
There is no direct competition yet that we have seen, so our opportunity to be the first Global B2B Marketplace is tremendous. MonetaPro is not a local solution, it is global. A single company like Ford Cars can trade with hundreds of other companies around the world. So a single company on MonetaPro can bring lots of other companies on to do more trading.
We are looking at a long term company to be successful. Where Amazon has done really well, and is really big — but it is B2C (business to consumer). We want to be the same, except in B2B space.
We have also partnered with Transform group to have a $100,000 marketing budget to promote the company, and support the MON Token and the community.
Again, we view the MON Token much like a Public Stock in the USA. This means supporting the community and shareholders, driving value, creating revenue, generating profit, and increasing value for the MON token and stakeholders.
Q2. @Suzan_Marcoz
I am a investor and I only care about prospect of a crypto that I chose, tell me the reason why I should choose your project over the existing one ? What is your coin advantage that can convince me to change from my other Holdings ?
Stephen Meade,
There have been many exit scams, and many projects that made promises, but never even built any technology. They were paper tigers.
We wanted to make sure and build a successful project, complete the technology, get approval, and create a Company and Token in the Blockchain space that could be very successful and profitable for everyone.
Our team has had accomplishments in building other technology companies, and creating several US Public Companies, which is very difficult.
We have already invested many millions of dollars into building the technology, doing partnership with IBM, and getting approval through Malta as a qualified VFA Token.
We have taken many, many steps to not only make sure our project is successful, but also, we wanted to be part of the new regulated environment moving forward. Getting approved in Malta means we have taken steps that few other companies in the world have done.
This was important to us at MonetaPro as well because our actual Customers are the largest companies in the world. We have spent the last 24 months in building the platform, winning contests, creating patents, speaking on panels and presenting, and dealing with some of the largest Companies and Countries.
We have a VERY vested in making MonetaPro successful as a global platform, and we want to build something that can rival Amazon (not compete with Amazon as we are B2B, so a different space), but a successful project that can have a major global impact.
We are set up and ready to support the MON token in the Marketplace, and to have a successful company with real customers and real successes.
We want to be successful in doing something no one in the world has done before. This will also help us drive and ensure the value and price of the MON Token, which is on interest to all of us, including members of the team.
That is also why we set up UniSwap, to make it easier to participate and have the tokens delivered directly.
Q3. @parisha89
Do you have any new partneship recently? And what advantage of this partnership to the project?
Stephen Meade,
We have just completed an agreement with a company in Dallas, TX USA. This company is over 30 years old and has done over $1B in Company Barter. They have agreed to start to bring on several of their existing clients. We also have conversations ongoing (a little slower due to COVID), but those are with big companies like IBM, Maersk, and even within countries we have partnership conversations going with Dubai and Abu Dhabi.
These countries do several billions of dollars or trade, but it is all still manual. They want to bring it into an online trade platform, which is what MonetaPro is.
The big industries and companies we can approach around the world are companies in Automotive, Airlines, Hotels, Media, Food/Drink, Oil/Gas, Shipping and more. Most all of the companies in those industries do some type of trade, so it is a big market opportunity to go after.
Q4. @orpa99
In the bad situation of the Covid-19 epidemic, every industry was heavily affected. Does it affect on the growth of Your Project and its ? What are your plans to turn challenges into opportunities for Your Project Development?
Stephen Meade,
COVID has actually been interesting. It has initially slowed down the conversations we had with the really big Companies and Countries. But now, it has opened an opportunity. Many of these companies are struggling to move their products and inventory and not everyone has Cash/Fiat.
MonetaPro operates on an internal Trade Finance Credit, which can help companies move inventory, receive Trade Finance Credits, and then acquire other items they want or need — all without using cash.
So, there is very much high interest in MonetaPro and how it can help the companies. We also have a COVID Supply Chain solution that is part of MonetaPro and can help companies move their items around.
Q5. @aroraforty
Regulation is very important. Projects are closed in many countries for failing to use proper regulations and permits. To be worldwide; how do you handle this problem?
Stephen Meade,
This question requires a few parts. And again, in our Data Room is an narrated presentation that talks about this directly. But to your question. The MON Token is an ERC20 Token, which makes it easily accepted on exchanges and traded. The MON token does not operate or function within MonetaPro, so it was not a scalability issue. We are not using the MON for transactions inside the system or settlement, so ERC20 was the best choice for the Token. Within MonetaPro, we have web based technology that is not based on blockchain (again, think of Amazon which is a website without blockchain). Our invoice system “IS” on blockchain, but the function of the Blockchain is to integrate, communicate, and update global accounting systems (SAP and Oracle), where large companies use to keep track of their inventory. We investigated THREE different options for the blockchain within MonetaPro. 1- Build our own “proprietary” technology , 2- Build on stellar, graphene, multichain, EOS (founders are good friends of mine), ETH, etc., or 3- Pick a big name like IBM and partner to build with them. We chose option 3. By using IBM Blockchain, we have more credibility in speaking with the big companies as our customers. The blockchain invoice we have created does not have a scale issue as we are not using it for settlement. We use the invoice blockchain to attach a data asset record, remove it from an SAP inventory module, and transfer that asset record to the acquiring party. Last, the GBUC, which again the “internal trade unit”, in NOT only the blockchain. It is technically called a ledger credit, and thus can only be used internally. As an internal credit, the GBUC exists on the MonetaPro database, and thus can settle “IMMEDIATLY”, which makes it better than a blockchain credit. The GBUC enables a company to sell goods, earn the GBUC credit, and then spend it on other items (all of which occurs without blockchain).
For regulation- MonetaPro is not a project like so many opportunities in the Blockchain space. We have a completed technology and closed-loop market place. It is running currently on AWS (Amazon Web Services) and is highly scalable for hundreds of thousands of concurrent transactions. MonetaPro has enterprise functions like hierarchy controls, user rights and authorities, credit controls, negotiation modules and more. This makes MonetaPro the only technology platform in the world, that we are aware of, which can function for B2B in a massive market like Global Barter. For the MON Token, we completed the regulation with Malta to become a VFA (Virtual Financial Asset), which makes the MON Token one of the few that have past the rigors of approval, which has helped created that as a legitimate project
We have a full white paper, team listing, demo videos of the actual MonetaPro system and more all available on the web site. You can see the pinned message above, or see more here. https://monetapro.io/ama-dataroom/
We hope you like our project and the PreSale opportunity.
Stephen Meade,
Last-
To get involved in the Presale, we’ve created a Uniswap account to make the purchase very easy.
The address is here for those who are interested: 0x60b88f7f48d46f0e5c3540a2c9b25b4d64632d23
We also have lots more information, including introduction videos, tokenomics, narrated powerpoints and even a demo of the completed system. All of that is available on the web site; https://monetapro.io/ama-dataroom/
- Telegram : https://t.me/MonetaProMONOfficial
- Twitter : https://twitter.com/MonetaPro
- Website : https://monetapro.io/
- Instagram : https://www.instagram.com/monetapro/?hl=en
- Youtube : https://www.youtube.com/playlist?list=PL7H3mvRsNt-UDMIhrS_aXGqbfyXwpw2ZP
Thank you for trusting Infinity Chain Club as the organizer of the event today, hopefully everyone can understand about MonetaPro.
Join our Telegram Group and you can talk directly with other Communities and enjoy some of the events that we created. We are always here to support.
