Justas Pikelis, Founder of Monetha–Decentralized Payment System with Merchant Trust Ratings Using Ethereum Blockchain
Finding Genius Podcast
Richard Jacobs
4.4 • 1K Ratings
🗓️ 16 October 2017
⏱️ 37 minutes
🧾️ Download transcript
Summary
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.
Transcript
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| 0:45.5 | Welcome to Almost Here, Round the Corner of Future Technology Podcasts with Richard Jacobs. |
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| 1:02.6 | the corner, from Bitcoin to artificial intelligence, 3D printing, blockchain, virtual reality, |
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| 1:10.2 | Hello, this is Richard Jacobs with Future Tech Podcast. |
| 1:14.1 | My guest today is Justis Piquelis, founder of Monita or Moneta, M-O-N-E-T-H-A. |
| 1:21.3 | Justice, how you doing? |
| 1:23.2 | Doing well. |
| 1:24.1 | Thanks for having me, Richard. |
| 1:25.5 | I'm very, very eager to share some news and share some |
| 1:29.0 | beneath the description about with your audience. |
| 1:35.3 | Yeah, tell me a little bit about your background. Where do you come from and what got you into this venture? |
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