Monarch will Help Manage your Payments and Subscriptions on a Single Platform

bonanza-kreep (66)in #monarchtoken • 6 years ago

Cryptocurrency market has long remained a quite unexplored area for both individuals and businesses. This is primarily due to the market entry complications, such as buying and selling crypto assets and using exchange services, as well as some security and financial risks associated with trading. At the same time, new market entry is a way to expand the business, whereas expansion implies both with respect to geographical and target audience enlargement, as well as gaining more control over the digital assets.

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Monarch addresses these issues with regard to all legal, technical and management aspects. The ultimate goal of the platform is to create a secure mobile application to process all payments through one system. It offers a range of features that will enable its users to seamlessly carry out transitions both in fiat and cryptocurrencies.

A multifunctional marketplace for financial operations

With Monarch, users will be provided with a build-in model to purchase and sell cryptocurrency, exchange it to fiat money and deposit funds into their bank accounts from one application. Given the range of exchange services, the platform will be equipped with a password vault manager.

Any financial operations on the Monarch platform are guided by the needs of its participants, which is to bridge fragmented payment and subscription services as well as consolidate related data on payment accounts. The platform comprises two types of services, each with its specific objectives. Payment and exchange services on one side and authentication management on the other side can be further subdivided into the following operational units:

1. Cold storage and hot wallet.
Monarch wallet is an encrypted blockchain-based cryptocurrency wallet. Cold wallet is designed to keep crypto assets offline, while any recurring payments and subscriptions, as well as third-party exchange services, will be operated from the hot wallet. The Monarch mobile application, suitable for all ERC20 tokens, will be launched on the App Store and can be used for BTC and ETC secure storage. Providing the Monarch application for Android system will be a feature of the expansion.

2. Payments in fiat and crypto.
An integrated payment tool can effectively serve for preapproved payments, such as for recurring and subscription payments. Merchants, in turn, can select the currencies, including fiat, they will accept as a means of payment for their products or services. To reach this objective, Monarch will adopt fiat-crypto trading pairs. On top of this, Monarch will provide merchants with the merchant plug-in to accept cryptocurrency.

3. Password vault management.
The Monarch password generator facilitates the registry procedure for new services. Using a centralized depository for passwords will allow for digital storage of keys and passwords. Additionally, a password generation tool will be issued to create a unique password to enter a new system.

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4. Exchange services.
Monarch intends to add the exchange options provided by third parties to facilitate cryptocurrency trading. For this reason, hot wallets will be linked to related exchange providers.

Token Sale Plan

Monarch will harness a two-level token system. The Monarch Utility Token (MST) will serve as a means of transactional payments. Transition fees will be used to purchase silver assets. The Monarch Security Token (MST) will be backed by silver. Public sale will start on August 15, 2018 and last until September 15, 2018:

Platforms issued as a one-stop solution will definitely become more competitive in the future. This is due to the fact, that automation of the processes together with financial ecosystems promote multipurpose solutions for financial operations. With the integrated merchant plug-in, businesses will be able to accept cryptocurrency payments without setting up a team to manage a new venture. Unlike other projects, Monarch proposes token backing in silver as a way of ensuring digital assets.