The Blockchain technology has continued its on searing course as it seeks to revolutionize various sectors of life, from finance, to elections to the way insurance works. There is barely a sector that the blockchain technology has not touched on, or cannot potentially turn upside down. Already with a firm footing in the alternative modes of payment field, various blockchain star-ups are proposing very innovative ways to tackling real life problems. Among the latest trailblazers to come online recently is Monaize, an extremely innovative venture that seeks to provide a lasting solution to a financial problem most traditional banks and even other cryptocurrencies have failed so far to address.
Reading from its whitepaper, Monaize is a mobile centered e-banking solution that seeks to solve the very real problems faced by freelancers and small businesses around the world. With the gig economy being worth tens of billions of dollars, there are more and more people turning to freelancing as a means of living. In the US alone it is estimated at around 55 million people or about 35% of the total workforce is freelancing. A big wonder it is then, how this huge industry is little catered for by the financial industry and this is what Monaize seeks to fundamentally address. Some of its amazing features and advantages include: Finally Solving the Freelancer Financial Institution Conundrum The very diverse nature of the freelancer industry makes it a logistical nightmare to cater for by traditional banking channels.
Coupled with the fact that most freelancing transactions are micro in their nature, they are seen as highly demanding and very little return market by banks and other online financial institutions. Monaize as a cryptocurrency seeks to address the need of this niche market by providing them with an easy to set up current account complete with a local IBAN number an option of a Monaize MasterCard. Taking the Best of Two Worlds Providing Hybrid Solution Monaize is a unique financial solution in the sense it is the first to take the good sides of both the blockchain technology and the traditional banking industry. By using the spontaneity of the Blockchain technology, Monaize give freelancers and small business start-ups the means to begin sending and receiving payments right from their Smartphones within 5 minutes. And then within 5 days of request a business over or freelancer can get their Monaize Business MasterCard to continue transacting and begin withdrawing cash at millions of Points of Sale and ATMs. Monaize is the first Blockchain start up that doesn't glorify the narrow narrative of simply trying to upset the present industry rather than making it better.
A Highly Transparent Initial Token Offer Monaize is also revolutionary in the way that it is coming online, by engaging in a fully transparent and decentralized ICO. Rather than holding its entire asset and distributing them as they see fit, a more democratic approach is deployed as Monaize chooses the use of the Komodo Platform as well as Zcash to facilitate its sale. There is also an element of fairness to it, as Monaize has reserved 1% of its total token volume which will be distributed among participants of its bounty campaign. Ranging from Bloggers to social media influencers, its participants stand to benefit varying percentages of the 1% reserved. The blockchain industry is here to stay with us, it has gone through several turbulent cycles but has always manages to bounce back even stronger. The cryptocurrency industry has had an epic 2017, and with Monaize, the little man in freelancer ad small business owner is finally getting attended to.