Monetha (abbreviated as MTH) is a blockchain company creating a universal, transferable, immutable trust and reputation system combined with a payment solution. MVP update (Minimal Viable Product) has been released on January 19, 2018 and the first product version was released on March 31, 2018. Monetha Mobile App public beta version was released for iOS and Android devices on June 4th, 2018 with on-going weekly updates. Monetha co-founders Justas and Laurynas have been nominated in Forbes 30 Under 30 lists and the company named as one of the boldest in blockchain. Co-founder Laurynas has been inducted in 25 and Under in Northern Europe for innovation in technology. In August 2017, Monetha had one of the most successful and fastest ICOs (Initial Coin Offering), raising 95000 ETH in 18 minutes, which at the time was equivalent to 37 million dollars. Monetha team includes Eric Duprat, a former executive at PayPal. Monetha's merchant partners include Pigu Group, the largest online retailer in Baltic States, and Foodout Group, a food delivery company in Central Europe.
Decentralized Trust and Reputation System (DTRS)
The fundamental problem for sellers and buyers in classified ads marketplaces (or global e-commerce in general) is that they do not trust each other. The solution is a Blockchain based trust and reputation system for commerce. Sellers will be able to build transferable, independent, universal, transparent reputation to boost commerce, while buyers will learn more about sellers and buy with trust wherever they are. One of the biggest concerns of the sellers/merchants is that they cannot transfer their hard earned reputation to use it in a global commerce. Monetha's Decentralized Trust and Reputation System lets its users display and build their ratings through different platforms (once reputable on their own e-commerce website, they can be reputable in Avito and OLX). This is where essentially the seller becomes the owner and the central figure of his/her reputation, rather than a centralized authority.