0:08 – Business trip to Tokyo, Japan
5:15 – Conversation with co-founder of Monetha, Laurynas Jokūbaitis, about the teaser website.
Konnichiwa (Hello) Monetha followers, welcome to Monetha’s Week in Review number 22.
This week, Monetha visited Tokyo, Japan, so we want to give you a little bit better idea of what we’ve been doing there.
(At backstage of the conference in Tokyo, Japan)
So, here we are, at backstage.
We’re looking long-term. At Monetha, we’re thinking about the technology, as mentioned, business fundamentals and in the long-term, it will prevail.
A lot of the companies, who will have the core business fundamentals, they will stay, those coins will stay and those who don’t have that, will actually just turn. So, we at Monetha, we believe that we have a really substantial value with our coin and with our technology, so we are definitely here to stay.
(At the hallway to the stage entrance)
Justas: Here we are, together with Everex, they are about to make their grand entrance…
Alexi: Hey guys!
Justas: …so guys, what are you going to talk about?
Alexi: Everex and blockchain and all the stuff.
Justas: And how the future looks?
Alexi: How the future… how grand it is.
Evgeni: Bankless Future…
Justas: Bankless future, awesome! Sounds great! Maybe there is some collaboration in the future between you and Monetha?
Evgeni: We already talked about setting an API with them.
(At the backstage of the conference)
Just about to go near the stage and present about Monetha.
(During the presentation)
Problem, that Monetha is solving is essentially the Trustless World of Commerce. For example, a buyer in Japan maybe cannot trust a person who’s selling from Russia, that’s how the global commerce does not happen.
There’s this company called, TrustPilot used all over the world. They have a Trust and Reputation problem, because a lot of the ratings, average ratings, are three stars, because people leave either one star or five stars, everything in between is lost. So, through the power of smart contracts, our algorithm, which will recognize, how good of a transaction it was, we will rate every purchase.
Facebook, for example, (pointing to a store integrated with Facebook), it is thirty-five ratings of five stars, but nobody knows, if those ratings were backed by a payment, whether they were linked. You can just go and rate a business that have never seen before. Ratings on Facebook, they don’t reflect the reality of reputation.
First of all, there are only three ratings (types of ratings), that you can leave on eBay. Positive, Neutral, Negative. It is a closed marketplace, so if I want to sell, if I build my ratings on eBay and I want to sell on Alibaba, I have to start all over again. With Monetha’s Trust and Reputation system, you will be able to universally transfer reputation from one marketplace to another marketplace.
We want to bring the same feeling that you get, going into a physical store, into e-commerce.
(During the Q&A, after the presentation)
Questioner: Right now, there are a lot of ICOs going on and I’m sure there are a lot of competitors in the same domain. Do you have any companies in mind as competitors and if you have, what are the differentiation point from those companies?
Justas: So, there are a lot of companies who are doing payments processing or mobile payments, but without a doubt, our main differentiation is The Decentralized Trust and Reputation System. A lot of the trust is being built without the payment online. It can be changed, it can be manipulated. And because we’re storing that on blockchain, it’s immutable. And there are many features amongst that, for example, claim feature,if there is a claim, the reputation suddenly drops and the merchant has to act positively, in order to restore that reputation.
So, Monetha is spending time in Tokyo, letting know about Monetha’s vision and what is going to be achieved in the next year, let’s go!
Arigato! (Thank You!)
(At International Tokyo Airport)
At the moment, departing from Japan, in which I spent three full days, full of business meetings, investors meetings and a conference, which prove to me that Japan is a crypto country. Of course, at the moment, Bitcoin here is king, but, while bringing these companies, like Monetha, Agrello and Everex, Japan is trying to know more about decentralized apps and Ethereum in general. We believe that Japan is definitely a market that would benefit from Decentralized Trust and Reputation System and this was the first step of establishing our presence here.
So, I want to thank the organizer of the Bitcoin Future Conference – Ayumu Kodama, an influencer of Japan’s cryptocurrency community. Great three days and now, back to Europe.
(At Software Development Office in Lithuania)
So, this is a very quick round up of what happened in Tokyo and now, I want to bring in one of the team members of Monetha.
(Conversation with the co-founder of Monetha, Laurynas Jokūbaitis)
Justas: So, here now, together with me, is our product master mind, our product lead, Laurynas Jokūbaitis. So, Laurynas, tell our audience a little bit more, what was released last week for Monetha.
Laurynas: Yeah, sure. So, hello everyone. Last week at Monetha, we’ve released a very first version of visual mock-ups in a teaser website, just to show you the very feeling of how users will interact with Monetha’s app and how it will look like. And the full website, which will describe it (the product) in a greater detail, will be launched just before launching our first technological milestone.
Justas: So, in my opinion, the teaser website really looks nice and really looking forward to the full one!
(End of Conversation)
Thank You so much for your attention and as always, we will see you next week. Bye-Bye.