Crypto Crash Won't Hurt World Economy, S&P Says

Leading international rating agency has dismissed fears about cryptocurrency's potential to crash the global financial system
20 February 2018   182

According to analysts of the leading international rating agency S&P Global Ratings, the talks that the possible collapse of the cryptocurrency market could bring down the global financial system is clearly exaggerated and represents "a lot of noise from nothing." This is reported by Business Insider.

As representatives of S&P note, if the price of the currency falls, this event will have a negligible effect on global financial stability.

In our opinion, in its current version, a cryptocurrency is a speculative instrument, and a collapse in its market value would be just a ripple across the financial services industry, still too small to disturb stability or affect the creditworthiness of banks we rate. If the value of cryptocurrencies dropped substantially, we expect retail investors would endure most of the impact.

Mohamed Damak 
S&P Global Ratings

Regardless of the skeptical attitude towards digital assets, S & P positively assesses the prospects of the underlying bitcoin and other crypto-currency technologies of the distributed registry. Thus, according to Damak, the blockchain can increase the speed and transparency of financial transactions, reduce their cost and even change the principles of the banking system.

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   72

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