Introduction
Monetran combines blockchain technology and cryptocurrency to enable customers to transfer funds and send remittances faster and more economically than by traditional methods.
Our system is designed to cost 70% less than traditional money transfers, and to cut the time of delivery down from days to a mere 3-5 seconds. All this while earning considerable profits for the company by extracting fees each time a transaction passes through the company app. From the outset, Monetran intends to use its system to compete for a share of the $700 billion dollar remittance industry.
In addition to its transfer system, Monetran has developed Moneda, an asset-backed, redeemable, stable token. Moneda has been designed to maintain its value, making it a true store of value and a perfect medium of exchange. Moneda encompasses all of the features necessary to achieve mass adoption and is poised to obtain the popularity needed to become a universally accepted method of payment on the internet.
Although both the Monetran system and the Moneda token could thrive independently, we believe they work best when used together, delivering a smooth customer experience and a way for people around the globe to enjoy a fast, economical transfer of funds.
Problem
According to statistics supplied by the World Bank, the average $200 remittance is subject to approximately 7.1% in fees, or more than $14. Because many recipients reside in poor countries, that amount represents a considerable hardship.
In addition to high cost, there is also a high degree of latency involved with the antiquated method of funds transfer still prevalent today . A cross - border remittance normally takes days and, on occasion, could take almost a week to complete. It should also be noted that the blockchains of most of the well-known cryptocurrencies are either deficient in cost effectiveness and / or fast resolution of transactions, rendering them unable to solve these problems:
- Typical transfer systems are far too expensive
- Cross-border payments can take a week with antiquated systems
- Other cryptocurrencies can’t deliver on cost / speed combination
Solution
Monetran combines blockchain technology and cryptocurrency to enable customers to transfer funds and send remittances faster and more economically than by traditional methods.
The reason most money transfers are so expensive is because a cross-border payment must pass through a number of intermediaries before reaching the recipient. Each of these middlemen charges a commission, with the end result in most cases being a 7% charge and a transaction delay of days. The Monetran system utilizes blockchain technology, therefore the need - and cost - of middlemen is negated and transaction time is reduced to mere seconds in most instances.
Monetran’s system, which is enabled by the Stellar network, is built to enable transfers anywhere in the world in a matter of seconds at a cost that is approximately 70% less than traditional transfers.
The ability to make economical, rapid transfers is due to the efficiency of Stellar, which is nearly free to use with fees of a fraction of a cent per transaction.
- Monetran utilizes blockchain which reduces cost by eliminating intermediaries
- The Stellar network cuts transaction time from days to seconds
- The efficiency of the blockchain enables transfers for 70% less than competitors
Monetran Completes MVP Built on Company App
Monetran’s development team has completed a version of minimal viable product which operates on our app. The MVP enables customers to register and to both purchase and redeem company tokens, known as Moneda, directly from the company. In addition, we plan to enable customers to make person-to-person transfers of Moneda tokens.
Incorporated in the app is the ability to transfer tokens using the Stellar Network’s federated IDs, which simplify the forwarding process and make transfers as simple as sending an email. Federated IDs take the place of a long cryptographic string of letters, numbers, and symbols normally needed to complete a blockchain transfer, enabling customers to enjoy a smoother and easier user experience.
OUR TOKEN
One of the primary promises of blockchain technology has been that digital representations of value, known as coins or tokens, could employ cryptology to become useful as trustless forms of currency for use in internet commerce. Unfortunately, after nearly a decade since Bitcoin emerged on the scene as the first cryptocurrency, that promise has yet to be fulfilled.
Problems have arisen which have prevented wide acceptance of any cryptocurrency as a medium of exchange in such commerce. Issues of stability, economy, speed, and scalability have plagued those cryptocurrencies that would assume the mantle of a universally accepted form of payment over the internet. However, our unique new type of cryptocurrency, combined with an innovative new platform for its implementation, has delivered solutions to the problems which have heretofore prevented the widespread acceptance of any cryptocurrency.
In the preceding pages we have introduced Moneda, an asset-backed, redeemable stable token issued by Monetran and created for use on the Stellar network. Moneda has been transfused with tangible value from its inception, with a viable plan to increase its value over time. It is redeemable - something that no currency has been since the days of the gold standard - for a portion of the principal in an asset account which contains income producing U.S. Government financial instruments. Built on the ultra-rapid Stellar network, Moneda is built to enable swift, secure, economical transfers and transactions for any amount, large or small, either domestically or internationally. Because Moneda is backed by Government assets and redeemable, it has a high degree of stability with a likelihood of gradually increasing in value, making it a perfect store of value.
In short, Moneda has been designed to encompass all of the qualities that any currency, digital or otherwise, should possess to be accepted as a universal medium of exchange. We believe that this demonstrates that Moneda, issued by Monetran for use on the Stellar network, is indeed a cryptocurrency worthy of mass adoption and everyday use in internet transactions.
The many advantages of Monetran / Moneda / Stellar
- Is SEC compliant and available to U.S. investors
- The Stellar Network will enable transactions in 3-5 seconds
- Moneda is backed by a portfolio of U.S. Government financial instruments
- Will provide very economical transaction fees
- Will enable micropayments – even those less than $1.
- Provides token stability benefiting customers and merchants
- Moneda functions as a store of value and increases gradually
- Will enable P2P international transfers including conversions
- Will not require mining which wastes valuable resources
- Will be available in areas underserved in financial systems
- Federated IDs take the place of complicated cryptographic keys
Stellar Network
Stellar is an Open Source, Distributed Ledger Technology
Stellar is a complex, distributed ledger blockchain system which enables financial transactions that resolve in approximately 3-5 seconds. It operates on protocols known as a Federated Byzantine Agreement, which differs from the way Bitcoin, Ethereum, and most other blockchains work. This method of consensus, or verification of transactions, was created by Professor David Mazieres and forms the backbone of the Stellar Consensus Protocol (SCP.) The Stellar network enables Monetran to make swift, economical transfers of funds on a global scale. It also eliminates the need for “mining’” which requires an extremely large use of electricity, thereby increasing cost and causing undue environmental strain.
One of the features exclusive to Stellar are federated IDs. Federated IDs are akin to email addresses and they take the place of the long, cryptographic keys which make systems work. This makes sending money on the Monetran system as easy as sending an email. This will be extremely important in helping the public at large use blockchain systems such as Monetran.
Market
Opportunity
Our first foray into the remittance market will most likely be the USD / Mxn. The most recent statistics show that the total amount of USD sent to Mexico as remittances is nearly $36 billion. A 3% market penetration would translate to roughly $1 billion in business with commissions, based on Monetran's fee schedule, that would yield annual revenues of approximately $10 million for the company. This is our immediate goal.
The U.S. / Mexico remittance market is only one of many markets ripe for conversion to the Monetran model. Others include parts of Central and South America, India, China, and sections of sub-Saharan Africa. The worldwide remittance market is worth $700+ billion and growing.
In addition, Monetran has designed its token to be stable, redeemable, and to serve as a store of value. This makes Moneda a perfect candidate to serve as a universal medium of exchange and, therefore, a candidate for mass adoption. Monetran intends to use its system to enable all types of payments over the internet in a faster and cheaper manner. With this in mind, Monetran expects to eventually forge partnerships with major retailers such as Amazon and Walmart as well as any other business that accepts payment over the internet. At every turn, Monetran plans to earn transaction fees for the company.
Competitive Landscape
In a head-to-head comparison of the Monetran system vs.the leading transfer companies, Monetran comes out ahead in virtually all of the areas of most importance to customers. The biggest reason for this is because Monetran is built and will operate via blockchain, which eliminates the middlemen who add great cost to the average cross-border payment. In addition, the processing time for such transactions is cut down to literally seconds instead of the hours or days which are prevalent in the antiquated systems which are part and parcel of traditional transfer systems. The efficiency of the Stellar blockchain enables Monetran to charge a fraction of what the top competitors do and still earn a solid profit.
Business Model
In our current plan, the primary source of income for Monetran will come from transaction fees, charged whenever anyone sends a remittance or makes a payment through the Monetran app. The current fee for such a transaction is 1%. One remittance model estimates that Monetran could earn $10 million in fees, on a yearly basis, with a 3% market penetration. There are many such markets available to Monetran, and we intend to take advantage of as many as possible.
Enabling fast and economical payments in everyday commerce is another goal of Monetran. In the near future we envision customers using our mobile app to make point-of-sale purchases for any amount, even those of less than $1. Such purchases total in the trillions of dollars on a world wide scale and provide another fertile ground for our system.
Another source of income is through arbitrage gained during the redemption and sale of tokens. The value of Monetran stable tokens will always be known, as it is a simple formula of dividing the value of the portfolio by the number of tokens in circulation. We plan to make a market for our own tokens and use the known value of a token as a mid-price. Tokens will therefore be sold at a slight premium to the mid-price and be bought at a slight discount. Depending on the number of tokens bought (redeemed) by the company and / or sold, this should total a significant profit for the company.
Finally, Monetran plans to market its token to those in countries where either high inflation or negative interest rates prevail in their respective local currencies. Because Moneda is a stable token backed by interest bearing U.S. Government securities, those searching for a store of value can buy and hold the tokens until they are ready to transfer that value back into fiat currency. In those instances, Monetran will be able to earn profits from both the sale and the redemption of Moneda tokens.
Financial Partners
Environmental Responsibility
Typical blockchains require a vast amount of energy to verify or “mine” transactions. It is estimated that by the end of 2020, mining the leading cryptocurrency alone will use as much electricity as a medium sized country does today. When all other cryptocurrencies that require mining are factored in, the electrical drain is absolutely mind boggling.
The Monetran system has been built on the Stellar Network, which utilizes a Federated Byzantine Agreement to verify transactions, thereby eliminating the need for mining. No matter how popular Moneda gets, it will not waste a single watt of one of the world’s most precious resources.
Progress
- First round of funding closed; maximum target hit
- Monetran token created on Stellar Network (Moneda)
- Every Moneda token in circulation backed by U.S. Government securities
- Highly qualified team assembled
- Company website built and operational
- MVP built on company app
- Fully functional app imminent
Press
- Monetran Token Offers Solution for Inflation, Negative Interest – BostonHerald.com
- Monetran To Seek Amazon, Walmart Partnerships – Markets Insider
- FinTecBuzz Interview with Monetran CEO – FinTecBuzz
- Environmental Responsibility High on Monetran's Checklist – StreetInsider.com
- The World’s Poor Will Benefit from Monetran Model – Markets Insider
- Various articles written by Monetran CEO Don Bielak – Medium
Team
Don has served as the full time Monetran Manager, CEO, and Founder for the past twenty four months after years of experience as the Publicity and Media Relations Director for a major sports venue in New Jersey from 1993-2017. He secured national media coverage in Sports Illustrated, ESPN, CBS, ABC, and NBC, among others, for his company. Don is an alumnus of Thomas Edison University where he majored in communications.
Dave graduated from Hamburg University with a Masters degree in computer science. He has launched two successful startups and also has decades of experience in product development. Dave has been granted seven patents for computer systems and applications. Among his specialties are DevOps and mobile integration.
Ron earned a degree in Communications & Marketing from the University of Tulsa. He has been involved in 100+ political campaigns across the country in a communications capacity. Ron is a nationally renowned expert in video and digital operations. He has also demonstrated advanced knowledge in communications security.
Daina owns a degree in Integrated Marketing Communications from West Virginia University. She is an expert in social media copywriting and management. Daina is proficient in graphic design and has experience in database maintenance. She is also experienced in marketing and developing brand identity.
Donnie graduated from Drexel University with a Masters degree in Electrical Engineering and a Masters degree in Engineering Management. He currently serves as manager of Reliability Engineering at PJM Interconnection – North America’s largest Independent System Operator and RTO that coordinates the movement of wholesale electricity in all or parts of 13 states and the District of Columbia.
Tricia is a graduate of Wm. and Mary College with degrees in both Psychology and Kinesiology. She also holds a Masters in Education from Goddard College, where she focused on technology in Education and E-Learning design. Tricia is a professional web developer and digital marketer for numerous clients, designing, developing, and managing websites; she also manages SEO and marketing campaigns.
Nadia obtained a degree from George Washington University in Systems Engineering. She is an expert in designing and coding algorithms. Nadia is a member of NASA Datanauts where she collaborates with NASA data scientists. She also has experience in blockchain and programming.
Use of Proceeds
If the offering's maximum amount of $250,000 is raised:
Use | Value | % of Proceeds |
---|---|---|
Compensation for Team Members | $32,000 | 12.8% |
Completion / Upgrade of App | $20,000 | 8.0% |
Marketing & Advertising | $39,750 | 15.9% |
Backing of Moneda tokens | $80,000 | 32.0% |
Maintenance of System | $25,000 | 10.0% |
Trade Shows & Conventions | $6,000 | 2.4% |
Legal & Professional Services | $10,000 | 4.0% |
Expansion of Team | $15,000 | 6.0% |
Redesign / Replace Website | $10,000 | 4.0% |
Intermediary fees | $12,250 | 4.9% |
Terms
Right to Receive Moneda Tokens:
The Offering includes the right to receive, one (1) Moneda token for every unit purchased.
For example, an investment of $500 would entitle the investor to 400 Moneda tokens.
* All perks will be delivered after the campaign is completed.
This number includes all funds raised by the Company in this round on Netcapital. This is an offering of Class A, under registration exemption 4(a)(6), in Monetran, LLC. This offering must reach its target of at least $10,000 by its offering deadline of February 19, 2021 at 11:59am ET. If this offering does not reach its target by the offering deadline, then your money will be refunded.
If the offering is successful at raising the maximum amount, then the company’s implied valuation after the offering (sometimes called its post-money valuation) will be:
COVID Relief:
This offering is being conducted on an expedited basis due to circumstances relating to COVID-19 and pursuant to the SEC’s temporary COVID-19 regulatory relief set out in Regulation Crowdfunding §227.201(z).
Offering maximum:
In reliance on this relief, financial information certified by the principal executive officer of the issuer has been provided instead of financial statements reviewed by a public accountant that is independent of the issuer, in setting the offering maximum of $250,000.
Pitch Deck
Financials
SEC Filings
The Offering Statement is a formal description of the company and this transaction. It’s filed with the SEC to comply with the requirements of exemption 4(a)(6) of the Securities Act of 1933.
We’re also required to share links to each of the SEC filings related to this offering with investors.
Understand the Risks
Be sure to understand the risks of this type of investment. No regulatory body (not the SEC, not any state regulator) has passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials or information posted herein. That’s typical for Regulation CF offerings like this one.
Neither Netcapital nor any of its directors, officers, employees, representatives, affiliates, or agents shall have any liability whatsoever arising from any error or incompleteness of fact or opinion in, or lack of care in the preparation or publication of, the materials and communication herein or the terms or valuation of any securities offering.
The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company’s control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
More Info
Updates
- Apr 7, 2022WILMINGTON, DE, USA, April 7, 2022...
- Aug 13, 2021WILMINGTON, DE, USA, August 13, 2021 — The...
- Feb 19, 2021We've hit our maximum funding goal! Early this...
- Feb 19, 2021Primary offering finalized, sellingunits
- Feb 15, 2021Our MVP is up and running! - Monetran offering...
- Oct 23, 2020Wilmington, DE - - Monetran LLC, an internet...
- Sep 18, 2020Wilmington, DE - - A recent announcement by a...
- Aug 11, 2020Wilmington, DE - - The management of Monetran,...
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