An AMA (Ask Me Anything) session was hosted by WeBlock community on the 1st of December 2020, around 1 PM UTC+0, hosting Mr.Stephen Meade, Founder & CEO of MonetaPro.
Introduction：
As the Founder & CEO of MonetaPro, Stephen Meade come from the USA, and in Beverly Hills/Los Angeles. He had started several technology companies and had a few that were public in the United States. His first e-commerce company was started in 1996, went Public in 1999, and went on to become PayPal.
MonetaPro is a Fintech/Blockchain company and a very large space of what’s called Corporate Barter, which is where large companies trade assets with each other. The team have built the systems, and integrated port of our invoice systems into the IBM Blockchain- so the team are one of the few early companies in the world that have gone live with an enterprise platform.
The platform and systems are built and have started to roll out. The team have created the MON Token to be able to trade outside the system.
Q&A with WeBlock Host
Hao@WeBlock:
Q1：As the idea of MonetaPro has been formed for quite a long time, what are the three keywords you would use to summarize MonetaPro’s progress? Could you explain the three keywords one by one?
Stephen Meade：
The three keywords are:
1- Completed Technology
MonetaPro is not a project like so many opportunities in the Blockchain space. We have a completed technology and closed-loop market place. It is running currently on AWS (Amazon Web Services) and is highly scalable for hundreds of thousands of concurrent transactions. MonetaPro has enterprise functions like hierarchy controls, user rights and authorities, credit controls, negotiation modules and more. This makes MonetaPro the only technology platform in the world, that we are aware of, which can function for B2B in a massive market like Global Barter. For the MON Token, we completed the regulation with Malta to become a VFA (Virtual Financial Asset), which makes the MON Token one of the few that have past the rigors of approval, which has helped create that as a legitimate project.
2- Blockchain Integration
MonetaPro investigated many different blockchain integrations. In the end, we worked with IBM to build the first-ever Blockchain (actually IBM Hyperfabric) integration into SAP and Oracle. The ability for the MonetaPro invoice to communicate directly with the large accounting systems of Multi-national corporations sets the platform apart from other technologies. Again, as far as we are aware, MonetaPro’s use of blockchain for asset management, supply chain, and audit trails, make the system very unique and valuable.
3- Big, big market
Most companies look for a $1 Billion dollar size market. For MonetaPro, we have $17 Trillion dollar market- which is B2B Corporate Barter. This actually rivals the size of the Amazon Market- which is B2C and estimated at $20 Trillion. This means MonetaPro has an opportunity capture and own a significant part of a large global market. MonetaPro is still the only company that has built a completed, B2B technology platform for such a large market. This means MonetaPro has a big opportunity to be successful.
Hao@WeBlock:
Q2. What is the tokenomics of MonetaPro Token(MON)? Could you give us a simple guide to the token usage, utility and value?
Stephen Meade：
The MON Token is an ERC-20 token, which means it easy to list, trade, and sell. The MON is being offered for the AMA at $0.05. We have some time bonuses, for instance, any contributions in the next 24 hours get a 50% discount to $0.025, and it goes up over the week. We have been approved on two exchanges and are working on a third (which would also allow US investors). Our goal is to have our final approval and go live on an exchange within a few months. This would mean the MON would be fully traded on an exchange. And, we have an alternative liquidation opportunity.
Within MonetaPro platform, we have an internal unit (not a blockchain token or crypto) called a GBUC, which stands for General Business Usage Credit. This internal GBUC is always equal to $1.00. Is you participating in the AMA offering, you will have the option to “return” your MON token to MonetaPro. The Company will then issue you a GBUC credit for each MON token. This means your MON token purchased at $0.05 will always have a trade-in value within the system equal to $1.
Think of MonetaPro sort of like Ripple, where that is the technology, and the XRP Token is traded separately from the ripple technology for banks. The MON token is traded separately, but it can be returned to MonetaPro for a $1 GBUC- which again makes us very unique with two different liquidity options.
Hao@WeBlock:
Q3. Could you talk about the milestones that MonetaPro has achieved and your future plans in the next 6 months?
Stephen Meade：
MonetaPro has had many milestones. When we first put the project together in early 2018, there was a lot of excitement around Blockchain. But, there was also a lot of competition for good projects. We took about doing Global Startup Contests to see where we stood as a project and other companies.
1- MonetaPro ended up winning EIGHT global contests (more than any other company in the world), all of which validated the MonetaPro project, company, and opportunity. We set about finishing the marketplace, another milestone.
2- We completed the MonetaPro technology platform and stress-tested it to over 300,000 concurrent transactions.
3- From there, we got an investment from Amazon to move the platform to AWS.
4- Next up, we spent months with the team from IBM to integrate our invoice system into the Hyperfabric (milestone)
5- and then launch that component on the AMBS (Amazon Managed Blockchain Services) which was another milestone.
6- For the MON Token, we worked with the Country of Malta to help craft the legal framework to become a qualified VFA (Virtual Financial Asset), and we passed rigorous testing and qualifications to get approved and certified. It was important for us to have the MON be qualified and accepted, as that helps add confidence in the project.
7- We have started to file some patents and IP with one of the Top 25 law firms in the world, we have had successful conversations large companies which have provided inputs on how to improve our systems.
For the next 6 months, the goal in to finalize a few of our early charter member companies to launch in MonetaPro, and to finish with the exchange listing for the MON token.
We also have a $100,000 PR and Marketing strategy lined with Transform group (which is the top PR company in the industry. Transform helped launch 39 of the top 100 most successful projects. Thus, we are set up to promote and support the MON token.
Hao@WeBlock:
Q4. With blockchain being such a young industry, partnerships are an integral component of any project’s journey. Which types of partnerships has MonetaPro already attained and what are the plans on this front moving forward?
Stephen Meade：
This is a good question and we’ve made good progress and continue to make more. As mentioned above, on the technology side, we completed the MonetaPro platform and launched it on Amazon after an investment from them.
Then, we completed the IBM integration and Amazon hosting for Blockchain.
On the customer side, we recently completed a sales partnership with Procur Global Services (formerly Artis Trade Corp). This is a 30-year-old company which has done over $1 Billion in prior Corporate Trade. The agreement is for Procur to start bringing on several of their clients for trading. There are three that are close to completing ($100MM+ in machinery, $15MM+ in Billboard Advertising, and $50MM+ in aeronautics equipment.
We are also in discussions with several other large companies with a history of trading, and also several Countries who also do Corporate Trading (which they call “swaps and flips”. Several of the countries in the UAE (United Arab Emirates) used to do a massive amount of Corporate Trade (mostly around Food, Travel, and Oil/Gas), but they stopped because there was not an easy way to track the trades and provide a good audit trail to make sure only legitimate partners were participating.
MonetaPro solves all the problems for Countries to trade with other approved Countries and Companies.
So, are partnerships early, but they are big opportunities and still growing.
Hao@WeBlock:
Q5. What are the reasons that investors should invest in MonetaPro?
Stephen Meade：
There have been many exit scams, and many projects that made promises, but never even built any technology. They were paper tigers.
We wanted to make sure and build a successful project, complete the technology, get approval, and create a Company and Token in the Blockchain space that could be very successful and profitable for everyone.
Our team has had accomplishments in building other technology companies and creating several US Public Companies, which is very difficult.
We have already invested many millions of dollars into building the technology, doing a partnership with IBM, and getting approval through Malta as a qualified VFA Token.
We have taken many, many steps to not only make sure our project is successful but also, we wanted to be part of the new regulated environment moving forward. Getting approved in Malta means we have taken steps that few other companies in the world have done.
This was important to us at MonetaPro as well because our actual Customers are the largest companies in the world. We have spent the last 24 months in building the platform, winning contests, creating patents, speaking on panels and presenting, and dealing with some of the largest Companies and Countries.
We have a VERY vested in making MonetaPro successful as a global platform, and we want to build something that can rival Amazon (not compete with Amazon as we are B2B, so a different space), but a successful project that can have a major global impact.
We are set up and ready to support the MON token in the Marketplace, and to have a successful company with real customers and real successes.
We want to be successful in doing something no one in the world has done before. This will also help us drive and ensure the value and price of the MON Token, which is on interest to all of us, including members of the team.
Community Live Question
Q1: For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for its development Can you tell us that how your project generates the profit?
Stephen Meade：
Yes. For the technology, we have already invested many millions of dollars into building the technology, doing a partnership with IBM, and getting approval through Malta as a qualified VFA Token. We have taken many, many steps to not only make sure our project is successful but also we wanted to be part of the new regulated environment moving forward. Getting approved in Malta means we have taken steps that few other companies in the world have done. This was important to us at MonetaPro as well because our actual Customers are the largest companies in the world.
We have spent the last 24 months in building the platform, winning contests, creating patents, speaking on panels and presenting, and dealing with some of the largest Companies and Countries. We have VERY vested in making MonetaPro successful as a global platform, and we want to build something that can rival Amazon (not compete with Amazon as we are B2B, so a different space), but a successful project that can have a major global impact. We want to be successful in doing something no one in the world has done before. This will also help us drive and ensure the value and price of the MON Token, which is on interest to all of us, including members of the team.
We are looking to raise additional capital now for salespeople who can help bring MonetaPro to market.
For how we generate profit, MonetaPro is an “Enterprise Software” platform, and as such we have three revenue streams. For the big companies, we have an onboarding fee (which a company pays to get set up and customized in the system), a monthly hosting fee (very typical for enterprise software), and a transaction fee for the trades within the platform.
There is very little cost for the company in hosting and running the platform, which makes MonetaPro very profitable with big companies when they come on as most of the revenue becomes profit.
Q2: Do you have any plans to attract non-crypto investors to #your project Because it is the success of a project to get more investors who are still not in the crypto world. What are the plans to increase awareness around you in non-crypto space?
Stephen Meade：
We have been successful in raising private capital to build the systems. So that risk part is done. Now, we are doing the Private Sale and AMA to raise a small amount of capital to increase our sales team and get customers to be successful. As we are based in the USA, we are set up similar to Ripple- where we have MonetaPro corporate, and the MON Token. Again, similar to Ripple Labs for the technology, and the XRP Token, which is free trading. We will have an additional small capital round in the USA, but for corporate strategic partners. We have some good momentum in those conversations, and many of the big companies we are talking to also have a Corporate Venture arm. So, getting a big company as a client can also garner strategic capital and investments. We have set the MON token up to generate a small amount of capital for the company, and then use that to roll out to customers and drive revenue- both of which will drive value for the MON token, and also help ensure the success of the company, the project, and protect the MON token holders as investors. We have some additional information about the MON Token available here- https://monetapro.io/wp-content/uploads/2020/11/MP-AMA-FAQ.pdf
If you want to see the many, many events we have spoken at and participated in, you can see a travel video here. Also, there is a section of Videos on “Blockchain and Business”, and you can see more about me, my speaking style, my thoughts and insights on the industry, how we add value, our input in the industry and more- http://thebullseyeguy.com/videos/
Q3：Where did you get the inspiration for this unique project idea? And what influence will we have on the crypto industry due to the project?
Stephen Meade：
This idea with MonetaPro actually was first an idea for me in the year 2000 (almost 20 years ago). The idea was to build a global electronic currency for business payments. I had just sold my eCommerce company which was doing credit card transactions (Think Paypal before PayPal), and I wanted to revolutionize business payments. But, the technology did not really exist to build a system. With the advances in technologies, databases, the Internet, and Blockchain, the opportunity was there to build and launch MonetaPro.
We will be successful in building a Global Marketplace and creating a more fluid way for business to work with countries around the world. Dubai as an example used to trade over $17B in food, but stopped because it was too complicated to do without an online platform. That is what MonetaPro does. The MON Token sits outside of the MonetaPro platform and can be traded, or returned to the company. Inside MonetaPro, the GBUC credit can change the way B2B commerce is done on a global basis.
So, we believe MonetaPro could be one of the global successes not only in Blockchain and Crypto but something like Amazon as well. Amazon in only a B2C platform, meaning Business to Consumer. It has an average sale of $87.
MonetaPro is the world’s first B2B platform. In the business to the business world for Corporate Barter, the average transaction is $1.5MM, so much bigger trades and opportunities.
MonetaPro can be successful on both worlds.
Q4：I would like to have a long term investment with your project but at the moment I have doubts, how can you convince and convince me that this project is very promising?
Stephen Meade：
We are focused on building a successful company and project. Much like building a Public Company where you want to increase shareholder/token holder value, you do that by creating a company that generates revenue, has customers, and makes big progress. Our team has built other successful companies, and believe MonetaPro will be as well. The MonetaPro platform is built, tested, and ready to scale and roll out. There is no direct competition yet that we have seen, so our opportunity to be the first Global B2B Marketplace is tremendous. MonetaPro is not a local solution, it is global. A single company like Ford Cars can trade with hundreds of other companies around the world. So a single company on MonetaPro can bring lots of other companies on to do more trading. We are looking at a long term company to be successful. Where Amazon has done really well and is really big — but it is B2C (business to consumer). We want to be the same, except in B2B space.
Q5：Can you explain how is your Tokenomics Distribution? How many tokens Will be minted? And How many tokens Will be locked by the team?
Stephen Meade：
We have a VERY unique program with the Token. The MON Token is an ERC20 Token and will be listed on several exchanges. We already have approval for one exchange in Malta and are trying to finish the paperwork and approval for one in Singapore (which would also allow US investors and a bigger investment market for the MON).
For the token distribution, there is a fixed number of tokens (300MM). We don’t have a burn program to reduce liquidity, we have a “return” program, which is VERY unique.
Within MonetaPro, we have an internal Trade Finance Credit called a GBUC (pronounced G-Buck- which stands for a dollar). Inside the MonetaPro system, the GBUC is stable and always equal to $1USD, so it’s a type of stable coin (or like a store credit). This means the value of the GBUC inside MonetaPro will always be $1.
We have a “conversion” option for the MON Token holder, where you can choose to “return” your MON to the company, and MonetaPro will offer you a separate GBUC inside the system. This means you can convert your MON Token for a $1 return. The GBUC will then be available to use on items which will be available in the MonetaPro Marketplace.
Think of it like having a $1,000 store credit in Amazon, that could only be spent in Amazon. The GBUC act like a store credit inside MonetaPro. So this conversion acts as a type of “buy-back” guarantee, and also a type of Token “Burn”, as this will remove tokens from the total supply in the market and return them to the company.
We believe this adds value to the MON Token as the Presale price right now is $0.05 (wish some bonus available), and will be able to be sold on a futures exchange, or returned to the company for a $1 credit.
We’d like to extend a big thank you to Guest Mr. Stephen Meade, Founder & CEO of MonetaPro for taking the time to join, and to everyone who participated by joining us!
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