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About Monetha Reputation score

  • Why is reputation important?

    Despite the fact that e-commerce has become so common, there still remains an inherent lack of trust with whom you are dealing on the other side of the screen.

    For the buyer, the seller's reputation is important for feeling comfortable doing business with them. If the seller didn't show up for a sale, sold a faulty product, or harmed another buyer physically or mentally, they have a poor reputation and you would want to know that before doing business with them. For the seller, knowing a buyer's reputation is important to avoid falling victim to fraudulent activity, such as payments not going through, installment payments not being completed, or being subjected to unwanted negotiations.

  • What is Monetha reputation score?

    The reputation score is Monetha's central tenet. It is a score that signals to people your level of trustworthiness so they can choose whether or not they want to do business with you and feel comfortable with their decision.

  • Why is it important that the system be decentralized?

    A decentralized trust and reputation system is important for two reasons.

    First of all, with a decentralized system there is no single authority; instead, it is moderated by a network. This makes the system trustworthy because once a purchase is made or a rating given, it is stored on the blockchain forever and can't be changed.

    The second reason is that no matter where the transaction takes place, both the seller and the buyer will be able to know one another's aggregate reputation from all other platforms they have traded on. As sellers build their reputation with Monetha, they won't have to worry about starting from scratch every time they begin using a new e-commerce platform.

About Monetha

  • What is Monetha?

    Monetha is a blockchain-based reputation system that addresses the common problem in e-commerce of not knowing who you are transacting with, if their reviews are real, and if you should trust them. Monetha verifies each user's identity so buyers and sellers can rest assured that they are conducting business in a safe and secure manner.

  • Who should use Monetha?

    Monetha is for anyone buying and selling items from people they don’t know. It’s designed for everyone - no matter where they are located, and independent of what e-commerce platforms they are using.

  • How much does it cost to use Monetha?

    It's your lucky day! Use Monetha as much as you want - for free!

  • How is Monetha different than other sites with reviews?

    Unlike many other sites, Monetha can't be used by sellers to buy many fake reviews. With Monetha, a review can only be left once a transaction is completed. So if you see 100 positive reviews for a seller, you can be certain that 100 people had a positive experience working with them.

    The trust factor on Monetha is higher because both the buyer's and the seller's identities are verified and interactions with those parties can be tracked across various platforms. Because everyone's identities have been verified, if the activity does end up fraudulent or unsatisfactory, Monetha can quickly track down the real offenders.

    This level of certainty is possible because all activity and reviews are recorded using a new technology called "blockchain" - once an action has been added to the blockchain, not only is the record everlasting, but it also can't be changed. (Learn more about the blockchain here)

Safety and Security

  • What is a fake review and how does Monetha solve it?

    A fake review is a review someone writes without having had an actual experience with the buyer or seller in question. Fake reviews can also be created by fake identities. You will not find fake reviews on Monetha because Monetha always links reviews with completed transactions done by real people.

  • Does Monetha provide a fraud protection?

    Monetha does provide fraud protection. If anything unexpected happens during your transaction, Monetha will help you come to a resolution.

  • Why should I trust Monetha's data?

    Monetha is intent on creating a global system that is safe, secure and trustworthy for buyers and sellers alike. We only want people to have the best experiences with their transactions and we do everything we can to provide true and accurate information. To this end, we ensure that everyone's identity is verified and that all reviews are connected to transactions that have been completed. All transactions are stored on a blockchain which is a technology that ensures reviews and ratings cannot be altered.

Blockchain technology

  • What is blockchain?

    Blockchain is a growing list of records containing timestamps and transaction information. Because the ledger is open and distributed, transactions between two parties can be verified and are inherently unmodifiable.

  • How does Monetha use blockchain?

    Monetha uses blockchain to make permanent records of transactions, guaranteeing the parties involved in the transaction and that the transaction actually occurred.

  • What is a "smart contract"?

    A smart contract is a record of code on the blockchain that facilitates, verifies and enforces the conditions of a contract. Because this logic has been saved to the blockchain this record is permanent, verifiable, and unmodifiable. Smart contracts can always be trusted.

  • What is Ethereum and Ether?

    Ethereum is a distributed blockchain platform on which smart contracts can be created. Decentralized platforms like Ethereum eliminate the chance of fraud, censorship and third-party interference. Ether is the cryptocurrency used on the Ethereum blockchain.

  • Is Monetha a cryptocurrency?

    Monetha does have tokens, but they are not a cryptocurrency. They function solely within the Monetha platform. Generally when we refer to Monetha it is to talk about the platform and reputation system.