AMA Recap NanoNews with MonetaPro

December 6, 2020

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Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with MonetaPro December 04, 2020. This guest star Stephen Meade, Founder & Chairman at MonetaPro. If you were unable to join the live AMA, no worries, here comes our 95th AMA recap!

We are glad to meet here:
Stephen Meade, Founder & Chairman at MonetaPro
For taking your time out from busy schedule for the AMA!

Stephen: Very well. I’m in Beverly Hills, where the weather is nice, but we are on lockdown. And, my fingers are warmed up and ready to type fast.
Faiz: Our community hopes to talk and learn more about MonetaPro Project

Introduction Session

Q1: Can you introduce yourself to the community? What is your background and how did you join MonetaPro?

Yes. Thank you. My name is Stephen Meade. From USA, and in Beverly Hills/Los Angeles.

I’m a life-long entrepreneur, having created several successful companies over many years.

Going back a ways, when I was 22, I went to work for a financial services company call Travelers Group. I ran sales training and over 6 ½ years I read over 357 books and trained over 8,000 sales people.

Reading those books helped me develop a 10-step process called “The BullsEye Belief” system, which I used over the years to create and build the companies.

In total, I’ve started 11 companies, five of which we were the first one in the world to have done something in that space.

My first e-commerce company was started in 1996, went Public in 1999 with a market cap close to $1 Billion. This initial company and technology is what went on to become PayPal.

In total, I’ve had three Public Companies in the United States, and the technology has ranged from ecommerce, enterprise software, homeland security, mobile technology, and FinTech.

I created MonetaPro in 2018, which I saw what was going on the world of Blockchain and Crypto. I knew that what we could build with MonetaPro would be better than anything that I saw occurring in the industry.

And, with our ongoing successes, I was right.

If you want to quick “about me” video, you can check it out here- https://youtu.be/ni0NtVxlp6Q

Q2: Can you briefly describe what is MonetaPro? and what makes MonetaPro different from other competitors?

Our current project, MonetaPro, is a Fintech/Blockchain company and a very large space of what’s called Corporate Barter.

This is a $17 Trillion industry and it is where large companies trade assets with each other.

Items like cars are traded for computers, or food for oil, or even media for airline seats.

If you think of a company like Amazon, which is a web based marketplace, it’s primarily for Business to Consumer, and has an average sale of $84. We have built a marketplace, but for B2B where the average transaction for trade is over $1MM.

The MonetaPro exchange provides a centralized global trading venue for companies to trade with existing partners as well as find new ones. Locating a trading partner is as simple as entering the type and amount of goods or services desired within the powerful search engine designed by MonetaPro. Negotiating and executing trades are both fast and easy.

Tracking and reporting trade activity is in real-time.

We have built the systems, and integrated port of our invoice systems into the IBM Blockchain- so we are one of the few early companies in the world that has gone live with an enterprise platform.

All aspects of ownership become decentralized and recorded, and the audit trail becomes more transparent and efficient. The system utilizes leading-edge, private blockchain technology to deliver better efficiency, more liquidity, and trust to the global trade industry.

The overall result? Lower transaction costs, ease of locating a new trade partner, executing a trade, and tracking each trade from start to finish.

The platform and systems are built and have started to roll out. We have created the MON Token to be able to trade outside the system.

As far as competition, we have not seen any direct competitors for the Global Trade space.

Even further, speaking of “competition”, MonetaPro has competed and WON eight global blockchain startup competitions around the world. That is actually more than any other company on the planet.

So, not only have we not seen any direct competition, the MonetaPro project was deemed one of the best against “ALL” other blockchain projects.

Stephen: Thank you. Lots of hard work, but great progress.

Faiz: Thanksyou answering such detailed explanation!

Q3: When will the token sale take place and how many phases are there?

The Presale has started now and is priced at $0.05. We are only looking to do about $1.5MM-$3MM total for the presale.

We did a prior private round in 2018/2019 in which we raised about $3MM, which went to building, enhancing, integrating and completing the MonetaPro technology platform.

We believe there may be one more phase, if needed, to raise an expansion round.

The Token has been created as an ERC-20 unit, which makes it easy for transfer, trade, and sale.

To get involved in the Presale, we’ve created a Uniswap account to make the purchase very easy.

The address is here for those who are interested: 0x60b88f7f48d46f0e5c3540a2c9b25b4d64632d23

We also have lots more information, including introduction videos, tokenomics, narrated powerpoints and even a demo of the completed system. All of that is available on the web site; https://monetapro.io/ama-dataroom/

Faiz: Wow its really great! Have raised $3 M, You can read more about MonetaPro and if you interested you can invest on their token Sale!

Stephen: Yes. For the technology, we have already invested many millions of dollars into building the technology, doing 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.

Stephen: 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).

Yes. That was the last part for that question. 🙂

Q4: Lots of investors hit and run in the sales session and sell after listing on the first exchange, How is the MonetaPro to prevent early investors from selling their token and what benefit will MonetaPro give to them?

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 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.

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.

Faiz: Are you already prepared some DeFi Product? Or Staking and Farming Platforms?

Stephen: We’ve looked as well at how to make MonetaPro a DeFi product. Considering our market and really big enterprise companies, it’s a little more difficult to structure a good product. We have not looked at staking and farming yet.

Faiz: Okay, Its great if you already Prepared Some DeFi Product

Q5: What are the major milestone MonetaPro has achieved so far and what are in the future pipeline?

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.

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.
We completed the MonetaPro technology platform and stress tested it to over 300,000 concurrent transactions.
From there, we got an investment from Amazon to move the platform to AWS.
Next up, we spent months with the team from IBM to integrate our invoice system into the Hyperfabric (milestone)
and then launch that component on the AMBS (Amazon Managed Blockchain Services) which was another milestone.
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.
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.

MonetaPro also has several advantages over other projects.

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 created that as a legitimate project
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.
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.
Experienced Team
We have a team of people who has built other successful companies in the USA, and in Finance. This means we have built and created systems before. Many of our Team come from Finance and Software and have created or run public companies.
Partnerships
We have completed a partnership with 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 completion ($100MM+ in machinery, $15MM+ in Billboard Advertising, and $50MM+ in aeronautics equipment.

So MonetaPro is built and ready to launch. The MON Token is generated and ready to list.

And we are ready to build a successful company and have a successful token.

Twitter Session

Q1. Can you explain more about the Global Benevolence Program of Monetapro? How to qualify and participate in this program?How does members can benefit from this program?

With MonetaPro, there are some interesting potential tax advantages, especially for US based customers.

In the MonetaPro Exchange, the following happens.

You list items for sale/trade
You can sell for cash/fiat.
You can also list and sell for GBUCs (pronounced G-BUCKs), and it stands for General Business Usage Credit.
When you sell an item, you receive credits;
Example: Sell $20MM in cars and receive $20MM in GBUCs
You can now use the GBUcs’ to acquire other items that will be listed within the MonetaPro platform.

With those transactions, two things potentially happen.

You spend ALL of your credits before the end of the year, and are left with a $0 balance in your GBUC account. Or,
You have a “balance” left if you account—which you would be taxed on for the value left if your account.

So if you sold $20MM in cars, and spent $15MM in GBUCs to acquire other items, you would be left with $5MM in your account (and potentially taxable).

The idea of a “Corporate Benevolence” program is to encourage the company to “donate” their $5MM in GBUCs to a notable or approved Charity.

This means the company would remove their tax liability.

And, the receiving charity would then have $5MM in GBUCs that could be used to acquire needed items within MonetaPro (cars, travel, computers, food, electronics, etc.)

Q2. In what ways is MonetaPro revolutionizing the global barter market? How do you plan to expand so that your trading model is adapted by all the major companies in the world?

Current companies do most corporate trade manually and one-to-one. MonetaPro has created a one-to-many where company can list goods, receive GBUC credits, and then use those credits to buy other items.

You never convert to cash or fiat, you can conduct international transactions, and you can do all of this within a closed, trusted market.

For the adoption, we have focused on large companies with a history of trading. This means if we get a few large companies, they will bring on their existing trade partners as part of the MonetaPro Platform.

Where most complex trades are done manually, MonetaPro is a platform which makes it very easy to do several things for companies.

We have the following.

easy to list your item
set your own price
when sell an item receive GBUCs
use our search engine to find other items
easily acquire the items
Blockchain updates inventory modules
blockchain writes and provides an audit trail.

Because MonetaPro has a hierarchy feature, you can easily move credits around from a sales department to purchasing, etc.

So, we take what is very manual for companies and automate it inside a global technology platform.

For the companies, we use a formula I created called ELT=V, which is Efficiency, Liquidity and Trust= Value. For big companies, if they are doing Trade, it is manually done.

So, we provide an efficiency with the technology platform. Liquidity comes from the companies existing Trade Partners, so we don’t have to promise to bring them new customers, the Company can trade with other companies they know.

This leads to the “Trust” part, where companies can trade with others that they already know and trust.

And we do something really cool with Pricing to eliminate currency fluctuation risk by “floating” the price.

This part is important too. For the Blockchain component with IBM provides another level of trust. We use to blockchain for TWO things. 1- to update accounting modules. And 2- we write a blockchain contract for an audit trail. This can prove that items (say $1MM in cars as an example), were removed from inventory and transferred to a third party within MonetaPro. You need to prove those items were moved and not just stolen, so the trust of the blockchain can provide that audit trail.

This means we are using the Blockchain as an enterprise solution for really big companies. We are still one of the few companies in the world to complete a platform, test the technology and successfully integrate in with IBM.

Yes. That last part is how we target the companies who already trade. 🙂

Q3. How having a Multi-party trading system contributes to the goal of blockchain transactions that aim to be trustless? How many intermediaries need to be trusted to use MonetaPro and how is it still secure and private?

The MonetaPro platform and technology was completed and passed major stress testing to be able to handle hundreds of thousands of transactions per second.

We were then able to complete an integration between our invoice and IBM Hyperfabric Blockchain, and then have that IBM Blockchain hosted on Amazon Manage Blockchain Services (AMBS).

We have started to file some patents and IP with one of the Top 25 law firms in the world. This will allow us to defend our technology in the world.

There have been many successful conversations large companies which have provided inputs on how to improve our systems.

MonetaPro is technically a “closed-loop” system. This means all transaction occur only within the system. With the GBUC, it’s an internal credit that can only be spent in the system.

The GBUC can’t be stolen, used, or traded outside of the MonetaPro system, so that makes us very secure.

For MonetaPro, all companies have to be approved in the system and we control the amount of credit they receive and the trading they can do.

By only working initially with really big companies, it is easy to verify and validate all of the people who use MonetaPro as a trade platform.

So, the Blockchain part is “BUILT IN” to the MonetaPro platform, and is designed and used to update the inventory modules for a big company, and to provide an audit trail.

All of our systems are internal, closed, and private.

Q4. What is the MonetaPro strategy to fund the marketing campaign that will be needed to gain visibility and build a user base? Privacy and confidentiality of information and user property are important issues, so what solutions do MonetaPro have about that?

For the marketing campaign, MonetaPro has a strategy to attack on several fronts.

We have Michael Terpin as an advisor and going to help on the Public Relations and PR.

Michael and Transform Group helped launch 38 of the top 100 ICO’s and projects. He was involved with Brock Pierce and the team for EOS, and many others.

He has committed to a $100,000 PR/Marketing campaign to drive out awareness, exposure and community interest.

So, we will have a very good PR Team to get the word out about MonetaPro for both the MON Token, and also to get new customers.

As CEO, I am well known throughout the world and participate in many, many of the top conferences in the business space. To be on a panel or speakers at the large, large events adds to our credibility, and increases exposure.

We are also setting two or three of the very best market makers to help keep up the liquidity of the MON Token and drive the value.

As we add more customers, it will create more news, interest, and excitement in the MON and MonetaPro project. We plan to continue to get invited and speaking at these events (you can see some of the interviews, panels, and more on the web site.

There are also many news articles and press releases we have had with our success.

Since I have created several Public Companies in the USA which were on the OTC (which is a small cap company). It is very similar when you have a public stock that you have to create a good marketing program to drive interest in the Token, increase interest in the community, AND increase customers to use the MonetaPro platform.

Again, we have Transform Group to help us create additional PR and News and to drive awareness and interest.

Plus, with the global conferences we speak and participate in, there is always more and more interest. And, to have market makers in several different countries, we believe we can drive awareness and value and increase the MON Token price.

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.

Again, we view the MON Token much like a Public Stock in the USA. This means supporting the community and shareholders, driving value, creating revenue, generating profit, and increasing value for the MON token and stakeholders.

You can see a lot of our news and progress here: https://monetapro.io/media/news-2/

If you want to see some of the many global events I’ve spoken or participated in, you can see that any many other videos here- http://thebullseyeguy.com/videos/

Q5. Moneta has proposed a barter model backed by an internal credit called G-BUC instead of physical or virtual money. What are the advantages of this? Where can I use Moneta’s credit model?

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.

So, this makes trading and transparency across international markets much easier.

For the investor, we have a VERY unique TOKEN program as well.

If you participate 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.

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).

So, in a typical sense, the MON will be traded on an exchange and have value.

But, we have something unique as well. 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 future exchange, or returned to the company for a $1 credit.

Again, we have a full video on our tokenomics available here- https://monetapro.io/ama-dataroom/

I also recently did a video on how to create a electronic “Global Currency”, and you might find it interesting as well. https://youtu.be/rKGP29gwUuM

Live AMA

Q1. Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like yours?

In the old days of commerce, there was Barter- Chickens for Milk. But, there was no money. You needed money to make business better. The first form of currency was the Moneta sea shell, which is where the word money come from.

But, 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, 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 worlds first B2B platform. In the business to business world for Corporate Barter, the average transaction is $1.5MM, so much bigger trades and opportunities.

MonetaPro can be successful on both worlds.

Q2. Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?

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.

Again, we have a full video on our tokenomics available here- https://monetapro.io/ama-dataroom/

Q3. Are the GCUBs credited to the seller before or after the delivery of the product/service? What happens if the seller doesn’t deliver the product/service to the buyer? The delivery is regulated by MonetaPro?