My post-ICO plan (5 ways how MTH price will rise)
Any investor may have doubts whether any ICO project can deliver what they promised to deliver. These fears, at some point, are inevitable, and that’s why I’m here to explain my future plans.
As 10% of the total token supply will be held for Monetha’s company for the next 12 months, it is to my team’s best interest to raise the value of our token. The logical solution to this, is delivering what we’ve promised.
The post-ICO plan will include these five steps:
First and foremost, in order to have a clear bridge between my potential investors and my team, this pre-ICO communication has been one of our priorities.
After seeing monumental success with this type of communication, my team understands that this is needed for our post-ICO plan too. Every investor subscribed to Monetha’s newsletter will receive the same updates they are getting now — Social Media posts, “Week In Review” video blogs, live Q&As, as well as my new blog posts and personal communication in Slack, Telegram, etc.
Second — while having a clear communication plan is helpful, the main goal is product development.
If we collect the minimum amount of funds needed to complete a full version of our product (EUR 7M), our development team will deliver the following:
- A functioning payment gateway for ecommerce merchants, enabling them to accept ETH with first version of DTRS (Decentralised Trust and Reputation System) in early 2018.
- A system which will accept Ethereum based tokens, and will also enable merchants to exchange Ethereum tokens to their local currency and transfer funds to their preferred account. On top of that, it will also include smart contract wallet, real-time analytics, and a dashboard for merchants. This is projected to be done in mid 2018.
- In late 2018, a first step towards decentralised trust and reputation system will be done. It will include Monetha Wallet for clients + Loyalty program + Significant improvement of the DTRS algorithm.
- Full functionality of the decentralised trust and reputation system in early 2019 will allow my development team to fully develop a globalized trust system powered by smart contracts.
- Finally, a retail version of Monetha is scheduled for mid-late 2019. This version will roll out Monetha as a payment option to retail merchants, allowing physical stores to accept mobile payments from Ethereum based currencies, and exchange to their preferred local currency.
It is important to note, that Monetha will start monetizing and collecting revenue right after the first milestone is done (early 2018).
The progress for all these milestones will be thoroughly and frequently posted on my medium channel or Monetha’s GitHub account which are available to the public.
Third — with Monetha’s product development, there’s another side that is highly related — business development. This branch of my expansion covers other, non technical development.
If you haven’t noticed, my co-founders want to build Monetha as a leading company in the payment processing industry. To become a golden standard, Monetha has a long road planned ahead.
One of the aspects we want to focus on, is to have a strong team that recruits superstars (executive level people), that carry strong business fundamentals. Having these team members, that bring a lot of value and experience to the table, is quite an expense. Nonetheless, reaching a higher-than-planned financial goal will allow help us with this objective.
Another factor towards Monetha’s business development success is being in the right place, at the right time. Speaking about being in the right place — we consider Singapore to be a perfect fit. Being located in Singapore will open a lot of new doors for us:
- By positioning ourselves near the “Silicon Valley of Asia”, my team can find strong team members much easier, because world-class talent is located right there, in Singapore.
- There is 50x larger mobile payment volume in China then there is in the US. By being closer to our target market, we can understand it better, as well as being able to apply our technology much faster.
- Singapore is being known as a vibrant environment for fintech startups. We believe that this will kickstart our growth to become a large force in the payments industry.
Fourth — since we are in the payments industry, one of my team’s focus points is security. While Monetha can’t disclose any details about our security progress or features, I can assure you that we are, and will be devoting plenty of resources to maximize everyone’s safety pre and post ICO.
At the moment, my team is doing their best to take care of safety of the investors throughout the crowdsale. Once it ends, they will shift their focus towards the security of Monetha’s merchants, buyers and their payment information.
Fifth — lastly, the first difference that you are going to see after my ICO will be me, getting listed on many of the popular exchanges. At the moment, my team is focusing on getting listed on both mainstream and local exchanges. However, as you may have heard, it will take them about 2–4 weeks after the crowdsale to do so, but this could easily change, depending on ICO results.
We have seen many bad examples of ICOs relaxing and not continuing the work after they raise money. This will not happen with Monetha, as we know that the long-term success depends on hard work in software/business development, security, communication with investors and business fundamentals.