Monetran, a U.S.-based developer of stable coin Moneda, is now seeking funds through its Title III (regulation CF) funding round through crowdfunding platform StartEngine. Launched earlier this year, Monetran stated its mission is to establish a digital currency for everyday use in internet commerce:
“We intend to ensure that the currency has tangible value and that people everywhere will find it desirable for transactions. We believe that, ultimately, our efforts will result in a cheaper, faster, more flexible method of transferring funds, bringing benefit to people the world over. Moreover, we believe that the mining portion of blockchain technology is a wasteful process which can be replaced by eliminating that procedure in favor of the Byzantine Consensus Algorithm model, which was refined by the Stellar network and adopted by Monetran.”
According to Monetran, Moneda Tokens will be built on the Stellar Blockchain platform and function as the primary medium of exchange usable within its own proprietary Monetran application. The company reported that through the Monetran network, the Moneda Tokens may be used for money transfers and commerce payments as a medium of exchange between any individual(s) and firm(s), that accept such a payment method. The Monetran application will also be used to transfer Moneda between users as well as convert Moneda Tokens to applicable fiat currency.
“Although Monetran expects its native token, Moneda, to gain universal acceptance in the first world, it also intends to make its system available to those in the developing and third-world countries. Many inhabitants of those areas lack access to financial systems which many of us take for granted. We believe the Monetran system, taking advantage of the many features of the Stellar Network, will make swift, economical transactions available to millions of people who previously had to deal with slow and expensive transfers of funds, which is part and parcel of most existing processors.”
Funds from the StartEngine campaign will be used to continue development of Moneda. The funding round is set to close at the beginning of January.
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