The decentralised trust and reputation system (DTRS), empowered by smart contracts, works flawlessly with Monetha’s payment processor. Plus it lets the buyer see reviews made by previous customers. Every time the transaction is made blockchain will save all the information (for example warranty) that is typically needed to ensure the trust in different countries. The smart contract will automatically change the trust rate for both parties involved in the transaction depending on their activities. Creating a decentralised commerce of trust. This is revolutionary. Based on the information saved during the transaction, clients and merchants will be able to file/solve a claim, rate each other, view ratings etc. Their history is then recorded onto the immutable Ethereum blockchain so that others can make well-informed commercial decisions.
Traditional payment gateways take up to 15 different type of fees. With a transaction fee ranging from 2% to 6%. With the usage of the ethereum blockchain, "Monetha" will have single step and one fee only: a transaction fee of 1.5%. Most people are unaware of just how many stages there are involved in the transaction of a simple VISA or Mastercard transaction. Once you receive the “transaction accepted” notice, this is typically just the beginning of a long sequence of intermediary transfers before it lands in your bank account days later. Time is money, which is why Monetha transacts instantly in a matter of seconds. No intermediaries. Just you and the customer. They’re creating a commerce where Monetha with the support of the ethereum blockchain will make it transparent and trustful. Monetha’s decentralised trust and reputation system is minimising the possibility of unreliable commerce for both the merchant and the client.