Monetha, a company leveraging blockchain technology to create a decentralised trust and reputation system working with payment processor, has announced an upcoming ICO, set to start on the 22nd August. The solution is aiming to solve the problems of trust and reputation, payments, and access to growing cryptocurrency economies – specifically Ethereum – that merchants experience. Co-founder Justas Pikelis describes the platform as a cross between PayPal and the Trustpilot platform on the Ethereum blockchain.
As detailed in the company’s whitepaper, the Monetha crowdsale and token creation process will be enabled by smart contracts running on the Ethereum blockchain. Ether will be used to purchase Monetha Tokens (MTH) in a ratio of 2,000 MTH : 1 ETH, with a 20% discount for early investors. For this ICO, there will be a ‘soft cap’ set at the equivalent of 7 million EUR. The Token Creation period will last fourteen days, or until the Hard Cap is reached.