1. "Monetha" will have single step and one fee only: a transaction fee of 1.5%.
2. MILESTONE #2
Full e-commerce solution + exchange to FIAT currency (EUR 1,7M/Mid 2018)
Accept Ethereum tokens, and enable merchants to exchange Ethereum tokens to their local currency and transfer funds to their preferred account. Smart contract wallet, real-time analytics, and a dashboard for merchants.
May I ask any insight into how is the Monetha team planning to exchange into FIAT , under what poor conversion rate?
In my professional opinion this is not fully possible.
Specially when all this is handled with a 1.5% fee (which includes some profit in case of success, but not enough to cover the FIAT exchange rates!!)
Seems mathematically doomed, this could be a dream come true, or a very ingenious path I can not see, or total bs.
I can´t see how this guys can deliver on their promise (Except with a very poor Exchange rate)
And what kind of legal advice would they bring to local markets they are aiming for which are regulated by law.
Or is this a more underground solution?
I´m quite interested and also very skeptical.
Example.
Amount of money after a $10 dollar transaction. $9.85.... <<<----- LOL ...... why not 9.90? LOL
How can you accomplish that? Which fees are not covered?
hmmm maybe its $9.85 in Ethereum, minus amount that the exchange will take for converting Ether to USD.
Probably as $0.60~0.99 cents? (ether to fiat is not cheap,)
so after $10 amount in Ether
you would get $8.85 amount in usd or even less.