Monaize is an e-banking platform that provides a mobile-first current account for freelancers and small businesses. Monaize provides businesses with an an instant KYB (Know Your Business) on-boarding process allowing users to create a business current account in less than five minutes with a smartphone. Monaize will provide an extensive range of third party services, including professional insurance, innovative payment solutions, cryptocurrency wallets, crowd lending and factoring. Through the use of the Komodo Platform, Monaize will also be able to provide pegged fiat currencies, scalable payment networks, micropayments, on-chain KV storage and more.
Monaize is an Equihash-based cryptocurrecny using the Komodo Platform's assetchain technology. The Monaize blockchain features a PoW and DPoW consensus mechanism in which Monaize notarizes blocks to the Komodo blockchain, which in turn notarizes blocks to the Bitcoin blockchain, ensuring protection against blockchain attacks. Monaize's block generation is done on-demand, meaning that mining only takes place when there is a transaction to process.
The Monaize token allows holders to receive rewards based on the number of monthly Monaize Business Account creations. These loyalty rewards as distributed in KMD.