Taking the principle of OWl history, Minerva wants to create a new mainstream in the world of payment. Athenian Owls, have minted for more than 2,000 years ago. Owls were arguably as the most influential for all the coins in the history. Owl coin have becomes the most widely recognized as an ancient coin, the first widely used for international coin.
If the usual merchant processor will charges for the transaction fees, Minerva will pays them. Minerva provides a generous reward system with Minerva OWL tokens. For each businesses is issued a bonuses as the cash back incentives. The questions is, how Minerva makes profits? Minerva taxes a portion of paid out reverse transaction fees for the operational costs. Let’s see Minerva platform in detail.
There are a biggest reasons why cryptocurrencies are not widely used. And the main reason is because the amount money that saved by using it is often less than the costs of using it. The cost to using the cryptocurrency sometimes takes a high fees. Another fact about cryptocurrency is, the price often changes dramatically in just a short periods of times. By its conditions, both buyers and sellers will be difficult to be more comfortable when they using it.
What Minerva doing is trying to be mainstream in payment processor platform. Minerva aims to handle the commons issues with proof-of-transaction by using a set of executing properties. The properties were designed to mitigate the risk and generously rewarding the merchant who accepting Minerva token as the payment.
Minerva platform is using Minerva Volatility Protocol (MVP) as the incentivized payment solutions. The background in the crypto payment businesses model right now is they were struggling on how to be effectively accepting digital currencies.
Minerva Volatility Protocol, will accelerate mainstream adoption of digital currency and smart contract based on the blockchain technologies. The design on Minerva will use OWL token, MVP contract, and Voting token. The three main part of them, will create its economy on the ecosystem.
The reward for approved merchant, will directly being able to give by OWL token, its used for all normal transactions. MVP contract purpose to incentive users to temporally takes the OWL token out of the circulation. Then the process will decrease OWL supply and drive OWL price back up. If users freeze their OWL tokens, they will able to receive bonus in OWL token when the original OWL token released.
For the voting system, it was based on a Schelling point method inspired by Vitalik Butterin’s SchellingCoin. Minerva then modified the scheme to be more resilient against the manipulation. The projection for the Minerva voting system schemes, was to determine the OWL/USD conversion rate.
In another features by Minerva Smart Money Alliance (MSMA). It was a proposed consortium that accepting OWL tokens as the payment, partnered with Minerva Technologies S.a.r.l, as the parent entity software company in Minerva platform.
Minerva Token Crowdsale Detail
Token Name: Minerva token
Token Symbol: OWL
Token Base: Ethereum ERC20
Token Supply: 100,000,000 HERO
Crowdsale Start: October 1, 2017
Crowdsale End: Nov 19, 2017
Website : https://minerva.com/
Whitepaper : https://minerva.com/whitepaper.pdf
ANN : https://bitcointalk.org/index.php?topic=2072362
Original post : https://goo.gl/Q9mBNz
Good stuff!
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