Monarch: A payment solution

Monarch: A payment solution

While cryptocurrency as an accepted payment method is still in its infancy, businesses around the world are getting on board. The list includes major companies like Microsoft, Tesla, Virgin Galactic, Lionsgate films, Wordpress, Expedia, and payment merchants PayPal and Stripe. With a lower barrier to entry than accepting plastic, any business in any industry has the ability to get on board.

According to Bitcoin payment service provider Bitpay, an estimated 100,000 merchants were using its services as of February 2015. This figure is much higher now. In japan alone which surpassed China last year as the world’s largest Bitcoin trader, an estimated 260,000 businesses offered cryptocurrency as a payment channel in 2017 alone. A Japanese airline is one of a growing number of local companies accepting Bitcoin payments.

In social media forums you notice people writing after cashing out, saying the things they have used such monies for. But a number of conversations online point out exactly how difficult it is to do without getting third-party payment processors’ eyes on you.
Exchanges such as Bitstamp, Coinbase, Kraken, and others need much verification to revert Bitcoins to fiat or fiat to Bitcoins. Simply because you’re approved, it doesn’t mean you’ll be able to throw BTC worth US$100, 000 down an exchange and expect to get the funds sent to your account with no issues at all. The exchange may even cancel the after the sale was made. Your financial institution can also stop you from cashing out massive sums or just freeze your account.

In buying and selling crypto assets and the process of converting to fiat is not an easy one at all. A whole lot of expertise is still required.

 The Monarch solution

Monarch platform seeks to meet some of these challenges by creating a unique platform that permits whoever is using it to put their bank account which empowers you to buy crypto assets. So, what the platform seeks to do is make it possible to buy or sell crypto assets but beyond that, transfer the fiat back into their bank account. Furthermore, to create an internal mechanism that will provide electronic storage of users’ private keys and passwords to all their crypto sites and even non crypto ones.

The intention here is to combine a frequent payment mechanism that will allow users to track, begin, and end subscription services to places like Netflix, mortgage companies, utility bills, so that eventually monarch tokens will become a fully backed silver asset, helping curb the problem of volatility. Monarch has two token structures: the first which the monarch security token allows holders to benefit by from the token backing silver and the distribution of dividend. The second is the Monarch utility token is used as a transactional avenue to enhance fee structure and payment remedy.

The platform will make user of an interface that is simple for users so that they are able to control their routine bills, services, subscriptions, passwords and trade crypto assets. It is also about implementing the idea of mass adoption of cryptocurrency.
The platform is revolutionizing payment with the concept of “Be their own king” for users which seeks to create an easy intermediary between consumers and merchants, so that the difficulties plaguing the crypto market are put behind finally.

Useful Links:      Website | Whitepaper | ANN Thread

Author Detail:

BountyHive Referral Link:     Orangeseller
ETH Address:  0x1461C3727dC461EfF7B32751dFf56c51c2218d5E

No comments

Powered by Blogger.