Blockchain technology is swiftly making its way to into the market. With the world of digital becoming a playground for hackers, technologies using blockchain are offering a contemporary solution to keep data secure. A newly launched and swiftly rising digital currency, Moniat, is also based on the blockchain. Moniat has tapped into the area which was most vulnerable to data hacks and misuse—the social media.
Introducing the concept of MATs
Moniat—aka MAT—was introduced in 2018. It was presented as a solution to some of the most raging concerns people have in the digital arena. One of such key concerns has always been privacy. While using the most popular social media apps of today, user information is at the disposal of corporations heading those social communities. This often contains vulnerable information used by ad agencies to promote their clients. Such concerns have been addressed by Reuters, CNN, Daily Maverick, The Guardian, and so many other publications.
Enhanced Security
Moniat brings a chance for people to use social media without having to compromise their private information. This is because MATs are ERC20 Utility Tokens that use the contemporary smart contract methodology. The resistance of these contracts has been tested by one of the most prominent global security consultancy—Hacken OU. At the completion of their tests, they concluded that MAT’s smart contracts are entirely secure. Furthermore, being a blockchain-based technology further enhances the safety of your data while being on social media.
Addressing Social Media Concerns
Moniat OU also addresses other concerns put forth by the users who wanted a platform that allowed them to earn without a mediator, or one that impeded corporate giants from leeching on their data. MATs joined hands with the Flashat dApp to address these concerns. Flashat is an application that allows users to share their photography and cherished life moment online on the decentralized platform. To view these, other users pay through MATs allowing the publisher to earn from his or her photos.
Providing Augmented Benefits
Furthermore, since investors cannot buy equity shares of the company and control policies, Flashat becomes an independent yet secure social media platform for friends and family to interact on. This also creates a thriving community free from dictation. Moreover, it provides incentives to existing users to invite others. For each invite, 10% of the MATs invested by the new user is credited to the inviter. This cycle continues up to 5-tiers, allowing users to grow. While the principal investment of a user is bound, individuals are free to convert the generated MATs into ETH crypto-currency, and consequently into the traditional currency.
Using Flashat
Using Flashat is quite simple. The users require a minimum balance of MATs. This can only be done if the users have a Moniat Dashboard Account. Once that is in place, Flashat users can access their MAT balance within the application. This balance can be used to buy pictured of your loved ones.
Moniat is the work of an Estonian company called, ‘Moniat OU’. Instead of being rolled in the Initial Coin Offering (ICO), it has coined a new term, “BAN” (Buy As Needed), which self-explains how people can own MATs. It has only been a year since Moniat has stepped into the market. For users considering to purchase MATs for Flashat, it will cost them $0.10 for 1 MAT according to the token’s Initial Sales Value. Anyone can easily register within minutes through www.moniat.com.