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Thursday, 28 June 2018

Review: Monarch Token

With the internet development, people are starting to use the cryptocurrencies than the fiat money. In other hand, people now starting to buy or sell crypto assets and convert it into cash money or fiat currency. To do so, people need to learn some technical knowledge. Further, there is a chance of financial loses related with market volatility and asset devaluation.

Monarch comes to address all limitations by bringing the best team and brightest minds in cryptocurrency and software development. Monarch plan to integrate a recurring payments tool that allow user to monitor, start and stop all subscription services for almost internet related things like Netflix, mortgage companies, utility bills, car payments up to Amazon and etc.

Hot vs cold wallet

To achieve the goal in revolutionizing the payment industry, Monarch designed a mobile app as the cold storage wallet. This Monarch mobile app will be available for Android and iOS users as well as for desktop. Users of this apps will be allowed to store their Bitcoin, Ethereum and ERC20 tokens. The app will be update immediately right after the Token sale, started with price alerts and custom notifications.

Hot wallets are like checking accounts while cold wallets are like savings accounts. Hot wallets are used for everyday spending while cold wallets are used for long term secure storage of cryptocurrencies.

Monarch solutions 

Monarch provide many solutions for many problems. First, Monarch has Auto-Payment and subscription management. For some condition, customers who are incapacitated will continue to be billed for subscription services which may lead to enormous financial detriment. If they want to discontinue those services, they have to follow a long and frustrating process. 

Monarch has the solution for above problem. Monarch app is able to manage the subscription based services can be done from one platform which available for Android and iOS phone. Monarch hot wallets allow users to make recurring and subscription based on cryptocurrency payments. 

Second, Monarch has Monarch password vault to help a user to manage like 27 unique online logins. Those amount was gauged from research for adults which lead them to lose a password at least once a week. Monarch solutions will ask the user to write down or store 12 words seed to be used for their password recovery. 

Third, Monarch has feature for subscription based crypto payments. Some merchants provide the ability to pay for goods and or services in cryptocurrency as one time payments. The merchant cryptocurrency is then susceptible to volatility since it was based on the market value. Monarch comes to alleviates those issue by it’s ability to send and request payments on a scheduled basis in cryptocurrency. 

Fourth, Monarch has multi-currency support. The problem will occurred when the merchant have a limited flexibility for the customers to pay in others cryptocurrencies. Monarch solutions is combating some of the volatility of cryptocurrencies by allowing merchants to accept multiple currencies. 

Fifth, Monarch has the ID management. Many providers ask the same basic information on registration for future accounts which causing a huge resource to have those Know Your Customer (KYC) process. Monarch solution have the similar solution like what Facebook does on easy registration process. In the future, Monarch will look to partner with identity verification blockchain solutions.

Sixth, Monarch has the financial analytic and tax forms. Many financial analytic and tax forms are hard to reconcile especially for cryptocurrency. Monarch solutions provide you the service to effortlessly manage your finance and taxes in one place. Monarch will show you how many is being spent and allow users to import all their trades.

Monarch exchange

Monarch exchange will allow merchants and consumers to exchange cryptocurrencies on an internal platform with minimal effort. Monarch payment management will change the payments for multiple industries. Industries which require recurring payments includes are payroll, rent/mortgage, utilities, video service, newsletter and donations.


Token sale

There will be 500 million Monarch Tokens (each 250 million MT and MTS ~ Monarch Security Token) which has target on sale amount $105M. 50% of MTS will be sold on private sale, pre-sale round and public sale via Token Generation Event. 

Private sale will start on May 1, 2018 for 5% of overall tokens with 25% of bonus. Pre-sale round will start on June 15, 2018 also with 5% of overall tokens and 15% of bonus. At last, the public sale will held on July 15, 2018 with 40% of overall tokens with no bonus. 


➭ AUTHOR
BOUNTYHIVE USERNAME : JahriMeayer



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