Monetha (MTH) is a cryptocurrency designed to reward identity app users for keeping their personal profiles up-to-date and holding MTH tokens for increased cash-back rates and other benefits.
“We want the new Monetha application to become a self-sovereign reusable digital identity powered and secured by cryptography. You control all your data in the closest way to the conventional understanding of ownership. What’s more important, you shall be the one who benefits from your data’s value, not Google, Facebook, Twitter, or any other company, including Monetha,” describes Monetha’s website.
Monetha payment platform runs on Ethereum blockchain and was conceived believing that trust, reputation, and transparency in transactions are key elements of e-commerce. Their slogan “Be rewarded for your data. Build your Identity. Shop online. Earn rewards,” sounds too good to be true, but what if you can really earn money from your personal data?
The idea is to give users full control over their digital profiles and let them leverage their data in multiple ways. The main one is “earning while shopping”, in which users link their profiles to shops and get discounts instantaneously. “Meanwhile, there is another economic layer planned to be implemented”, was posted on MTH’s Twitter account. “We want users to be rewarded for building and maintaining their Monetha Identity profiles with an internal currency. In our case, it’s the MTH token. A detailed design of this economy layer is what we are currently working on.”
Besides, Monetha is focused on getting rid of the lack of trust-based verification system in commercial transactions, long and expensive payment procedures, poor knowledge of Ethereum-based economy and the prevalence of scams in e-commerce.
At the moment of writing this article, MTH price was US$0,040038, with a 24-hour trading volume of US$704,864. It is also ranked number 1,000 at CoinMarketCap, with a market cap of US$16,111,395.