Many thought leaders feel that cryptocurrency has not been adopted by the masses because the technology is still too difficult to use. First-movers such as Coinbase and BitPay have both taken steps in the right direction towards usability, but it still remains difficult for consumers who are not tech-savvy. Two of blockchain’s favorite online personalities, Robert Beadles and Sneh Bhatt (CryptoBeadles and Cryptosomniac, respectively) have teamed up to create an ecosystem of innovative technologies with a centralized theme of simplifying cryptocurrency for consumers. Since its inception in late 2017, Monarch Blockchain Corporation has launched a consumer wallet, issued patents for a recurring-payment protocol, — sponsored a NASCAR, and even added the cofounder of LinkedIn, Eric Ly, to its team. Monarch is positioned to be one of the fastest-growing FinTech companies in the blockchain space in 2019.
The Monarch Wallet: 100% Decentralized, Secure, and Free to Use
The backbone of Monarch’s ecosystem is its decentralized cryptocurrency wallet, which it released in June of 2018. Available on iOS, Android and desktop, the Monarch Wallet provides a secure place to send, store, and receive over 1,500 cryptocurrencies. The iOS wallet currently supports Bitcoin (BTC), Ethereum (ETH), Stellar Lumens (XLM), Ripple (XRP), GoChain (GO), TUSD and any cryptocurrency built on Ethereum (ERC tokens).
The Monarch Wallet is completely decentralized, meaning Monarch does not store or keep record of its users’ private keys, nor does it have access to users’ funds. Applications like CoinBase and BitPay do not give users access to their private keys, as they are centralized solutions. The Monarch Wallet is also free to use, taking no fees when users withdraw or deposit funds to their wallet.
MonarchPay Will Be the Ultimate Payment Solution For Both Businesses And Consumers
Before the end of 2018, users will be able to buy and sell cryptocurrencies for US Dollars on the Monarch Wallet. As a fiat gateway, Monarch Blockchain Corporation created MonarchPay, a merchant CMS plugin that allows online retailers to directly accept cryptocurrency as payment. Using MonarchPay, users can pay businesses in cryptocurrency and Monarch will instantly convert the funds to US Dollars to pay the business. A virtual debit card will allow you to pay for nearly any goods or services using cryptocurrency, whether or not they accept cryptocurrency as a form of payment.
Monarch has a massive advantage over its competitors through its patent pending decentralized recurring payment technology. With Monarch’s payment solution, users can now pay for subscription services using cryptocurrency, such as rent, car payments, mortgage payments, Netflix, Spotify, etc.
Monarch Has A Significant Userbase Through Partnerships With Other Blockchain-Based Companies
As of mid-November in 2018, the Monarch Wallet has been downloaded over 200,000 times between the iOS, Android and desktop versions of the Monarch Wallet. The Monarch Wallet will have several influxes of new users in the next 4-6 months through its partnerships. The Monarch Wallet is the official cold-storage partner for Blockchain Terminal, which has 83,000 terminals pre-sold with the Monarch Wallet.
Genesis Vision, an asset-management platform, will be using Monarch as a cold-storage solution as well as Sapien, a Web 3.0 content creation application. Listia, an international marketplace, has pledged to use Monarch as a payment processor for all forms of currency exchanged on their platform, giving MonarchPay millions of users. BitBay, another popular marketplace will soon follow, growing Monarch’s userbase even further.
Monarch’s Innovation in the Security Token Offering (STO) Space
Security token frameworks such as Swarm and Polymath are both using the Monarch Wallet as a cold-storage solution for security tokens. Monarch Blockchain Corporation can offer a custody-solution for STOs. Monarch has also developed a software that allows ICOs and STOs to handle investor onboarding, payment processing, and a custody solution all on one dashboard. Monarch Blockchain Corporation is an active broker dealer, meaning it can legally assist in fundraising for other projects.
The SEC is treating almost every ICO as a security offering, issuing seven-figure fines to corporations and making them return investor money. For example, Carrier EQ (AirFox) was fined $250,000 and forced to return all funds. Stephanie Avakian, co-director of the SEC’s Enforcement Division said in a statement:
“We have made it clear that companies that issue securities through ICOs are required to comply with existing statutes and rules governing the registration of securities. These cases tell those who are considering taking similar actions that we continue to be on the lookout for violations of the federal securities laws with respect to digital assets.”
With over 200,000 users and rapidly expanding, the Monarch Wallet has established itself as a consumer favorite. Monarch’s ecosystem is promising, led by successful entrepreneurs along with a LinkedIn co-founder. To read more about their ecosystem, read Monarch’s whitepaper or visit www.MonarchToken.io for more information.
Release ID: 448012