The Meritt Blockchain is a platform that allows individuals and other entities to have total control over their digital assets. In this way, it will be easy to create and distribute tokens for whichever purpose they desire. It is an ecosystem for producing various tokens.
It is important to understand that tokens are the preferred unit of account for assigning a value to transactions such as e-commerce, sharing of files, voting in communities, etc. Basically, they are becoming increasingly popular and their utility is increasing by the day. However, creating tokens is very expensive and the process is bureaucratic, inefficient and centralized which is against the very principles that the tokens are operating. Therefore, there is a need for a Blockchain based solution which Meritt of offering to the world.
The Problem that Meritt is Aiming to Address
Firstly, there are high barriers for anyone wishing to create and distribute tokens. These barriers can be on several fronts such as expensive costs for hiring developers. A good token is a massive investment that requires the best of developers with competence either on the Fintech, software, Blockchain or Cryptocurrency fields. This factor largely depends on the mission of the innovator. Nonetheless, the costs are usually exorbitant and may prove to be prohibitive especially for startups.
Secondly, development of tokens is centralized and intermediaries are required to market, educate the targeted users and ensure that the tokens attract the value through various means like liquidity against Cryptocurrencies, fiat money, or even vouchers. The centralization challenge usually means delayed in token solutions productions, inefficiencies, increased costs and inflated prices. The intermediaries’ involvement, on the other hand, means that individuals do not have control over the process of their token development.
Lastly, there is a need for development tools for deploying tokens to different ecosystems all operating under a common standard.
Meritt is creating an ecosystem that will allow innovators to develop their own digital assets and the distribution channels. This distribution channel will be part of the blockchain with a feature referred to as marketplace (dApp) that will be used for selling the digital assets. Additionally, there will be a social network where peers will interact with each other’s not only to build trust but to promote their distribution channels as well as strengthening the market.
Token Symbol: MTT
Token Standards: ERC20
Token Price: 5000 MTT=1 ETH
Total Tokens: 1,200,000,000
Token Supply: 504,000,000
Token Allocation Start Date: Quarter 4, 2018
Minimum contribution: 0.1 ETH
Features of the Blockchain
• The Meritt platform will be fully decentralized.
• Privacy will be enhanced to ensure that the identity of users and other data is not revealed to third parties.
• Data will be stored in blocks belonging to individual user’s data store to secure it from cyber hacks.
• The data blocks will be segmented, encrypted, distributed and duplicated in the peer to peer ecosystem that will be available on private computers to reduce the risk of data loss or any other system corruption.
• There will be a merit score feature that will be instrumental in analyzing the credit score for each participant. The score will be based on various parameters.
Meritt brings a new solution to the way individuals create bespoke digital assets. The Blockchain has features that ensure that the management of distribution is achievable through the dApp marketplace or the social network site.