Canadian crypto exchange defies fentanyl epidemic

The approach assumes inclusion of more regulations into the platform that is by design anti-regulation
06 March 2018   152

Fentanyl issue became an international epidemic: 66% percent of overdose deaths in the US hold the drug accountable, while in Canada it is responsible for 922 overdose deaths in a year. Fentanyl is a synthetic drug that is 50 times stronger than heroin. Canada based virtual currency exchange Einstein proposes to form an alliance with other startups to establish a watch and maintain a blacklist of the digital wallets that are indicted in dealing with fentanyl and similar activity.

We would do a blacklist of wallets as our giveback [to society].


Christine Duhaime

Chief anti-money-laundering officer, Einstein

The initiative is supposed to start in Canada and the US with the perspective of making a global blacklist. Although a success of this enterprise would certainly improve the cryptocurrency overall reputation, Canadian law in particular sees a risk of violating the privacy by enacting such legislation. The idea of compiling a blacklist technically feasible because in most cases fentanyl dealers are not that bright to apply sophisticated anti-tracing methods such as changing wallets or tumbling coins.

Cryptocurrencies need government regulation to deter price manipulation and related wrongs, but the absence of of such regulation is one of the biggest reasons that investors buy into cryptocurrencies in the first place.


Michael Gokturk

CEO, Einstein

But unfortunately Einstein is too tiny of a player to tackle this issue solely on its own.

Monetha is about to release first version of its wallet app

Monetha's MVP to be released on March 21 exclusively for MTH holders in order to make a significant step towards fully working decentralized trust and reputation system
23 March 2018   71

Starting from March 31 all of MTH token holders will gain exclusive access to Monetha wallet app - the MVP of the project. The release is considered to be Beta release, and approximately 10,500 of the users of the platform will become the first to test out the product. The app will be available on both iOS and Android.

The wallet itself is based on smart contracts and features

  • making/solving claims;
  • rating merchants;
  • writing reviews;
  • review of purchase history;
  • see clients' and merchants' trust ratings

The integration with Monetha through the app will allow merchants to accept Ethereum based tokens as a payment and then easily convert cryptocurrency into fiat currency. Monetha's mission is 'to develop and deploy the best transaction system that would be based on enforceable contracts without third party between consumer and merchants and a strong decentralised reputation management system'. Its solution is going to be universal, transparent, self-executing and transferable.

To the moment of the publication, Monetha's market parameters are as follows:

Average price: $0.102597

Market cap: $22,274,083

Volume (24): $435,208