The launch of Monartis
Monartis sees the launch of a new, easy to use digital currency. So simple to use, in fact, that it’s intended that it will be possible to spend the currency online from the day of release in a dedicated online store.
Designed for mass market adoption, the Monartis eco-system will be developed to provide a user-friendly environment for consumers, retailers and service providers. Our Monartis Fast Checkout app will have the potential to reduce online checkout times by almost 90%, helping to save both consumers and retailers valuable time and money.
Monartis will be opening an online store, with associated currency. It is intended that it will be possible to make payments within the store, using the new currency, from the outset.
It is hoped and expected that, beyond the launch day, Monartis will be accepted by multiple retailers and service providers, becoming a mainstream means of both making payments and transferring money across borders, without the need for the bank charges and currency exchange fees often associated with such transactions currently.
The founders are seeking to raise funds to enable further development of the online store, integration methods for a variety of e-commerce platforms (including Shopify, Magento and Woocommerce), the creation of the Monartis Fast Checkout app to assist with future adoption of the currency and for marketing activity to promote both the store and the currency. A key element of the marketing activity will consist of an extensive retailer recruitment campaign.
It is intended that the online store will provide “proof of concept”, demonstrating to other retailers the ease of taking payments in this manner, while providing consumers with a digital currency that has inherent use from the outset.
Why is our solution needed?
Have you tried talking about digital currencies with your friends and family? Although many of us who are immersed in the industry are aware of the possibilities, the opportunities and even the associated jargon, the reality is that many consumers struggle to understand the basic concepts involved.
The vast majority of consumers, even in the developed world, might well be unable to explain the difference between the varying digital currencies, let alone describe what they are for. Without that basic understanding, it becomes very difficult to encourage greater take-up.
It is often suggested that a currency has two primary purposes:
- To act as a means of storing value
- To be used in a transactional manner, allowing for the exchange of goods and services
Examining Bitcoin, the best known of the existing digital currencies, there is an argument that it does successfully act as a store of value for those who are able to purchase it. However, spending digital currencies is often remarkably difficult.
In order for Bitcoin and other digital currencies to function effectively and be in mass market use, we believe that there are a number of existing hurdles:
- Purchasing digital currencies is more difficult than it should be for the average user. We believe that exchanges and available wallets don’t provide the user-friendly environment that might be expected
- Once purchased, coins are very difficult to spend. Few retailers or service providers will accept digital coins as a means of payment
- Retailers and service providers are sceptical about the value of accepting such digital currencies for payment
As a result, many coins are currently being seen largely as a means of storing value and are being used on a transactional basis by only a small fraction of the potential user base. If digital currencies are to take the next step, they need to become both accepted and accessible. This is where we believe that Monartis can make a difference.
Our founders come from an online retail background. They understand technology, but they are also well versed in bringing technical solutions to a mainstream audience. They understand the importance of demonstrating the value of new technologies in everyday lives. Importantly, they also have the experience of working closely with retailers and service providers.
It is our view that a digital currency won’t be adopted for daily use unless it meets the requirements of consumers, retailers and service providers.
Find out more
Are you interested in learning more. Our official website at www.monartis.com contains a wealth of information.