Wilmington, DE — What do a 64-year-old retiree, a Nigerian national, and a decorated Marine have in common?
They’ve teamed up to create the latest cryptocurrency which, according to its founder, Don Bielak, has the potential to revolutionize the way the world does business on the Internet. With the help of Nigerian citizen Gbolahan Onadeko, and Jonathan Fuller, a decorated Marine veteran from Cheverly, Md., Bielak has developed Moneda, a cryptocurrency backed by tangible assets. They hope to make Moneda the currency of choice by anyone making purchases or transferring funds over the Internet.
Onadeko is an expert web developer who has been advising Bielak with regard to technical issues and system development. He has been tapped to construct the main application for the company.
Fuller, who was twice decorated for performance under pressure while serving with the Marine Corps in Iraq, has a degree in Corporate Finance & Marketing from Perdue and has accepted the position of Director of Finance and Marketing for their company, Monetran, LLC, which is registered in Delaware.
Monetran has complied with SEC regulations and units, which include a token, are now available to both foreign and U.S. investors. Monetran’s basic information portal is their website, Monetran.com. Their crowdfunding campaign is being administered by StartEngine.com.
So, what is a cryptocurrency, anyway? A cryptocurrency is a medium of exchange which can be transmitted from one person or merchant to another over the Internet. It most often takes the form of a digital “coin” or “token” which represents value. That’s the explanation in a nutshell.
And what is so revolutionary about Moneda? Bielak, a Hockessin, Delaware resident who retired last November after 30 years of work in the publicity field, offered his explanation.
“To most people, Bitcoin is the only cryptocurrency they know. They hear about the wild swings in price and think ‘why would I ever want to own something like that?’ And they’re right. The vast majority of cryptocurrencies, including Bitcoin, are too volatile to be considered for use as an everyday currency. In addition, the wild fluctuations in price make them extremely risky to hold. That’s a big reason why cryptocurrencies haven’t caught on with the general public. People are afraid to buy them and merchants are reluctant to accept them.”
“But”, Bielak continued, “there is a way to make a coin or token stable, and we have designed the method to do just that. Also, we have engineered our tokens to gain value over time, something others who have issued tokens have promised but few, if any, have delivered.”
Moneda tokens will be backed by a tangible asset account consisting primarily of interest bearing instruments such as corporate and municipal bonds, and hedged by a small amount of precious metals. The account will be held by Fidelity Investments and any profits will be removed quarterly and used to buy back Moneda on the open market. Those tokens will be burned (destroyed), guaranteeing a greater scarcity of the currency which should result in higher prices for Moneda. The account will also be augmented by transaction fees earned when people use Moneda. All in all, Bielak says that every possible advantage is given to those who own the tokens. He also says they are designed to gain value for those who hold them and will be a stable store of value for those who spend or trade them. Anyone on the receiving end of tokens will enjoy the same benefits.
“There is one more intriguing feature of Moneda,” Bielak continued, “and that is redeemability. Anyone who has Moneda can redeem them with Monetran and get paid a price in proportion to the principal in the asset account. Not since the days of the gold standard – nearly a half century ago – has anyone been able to redeem currency this way.”
Bielak says that Moneda will be suitable to make micropayments, which are generally considered $5 or less and something that Bitcoin, among others, have been unable to do.
“That will be a game changer,” Bielak said. “Up until now, cryptocurrencies were neither stable enough nor scalable enough to be used for such small amounts. With Moneda, those problems are alleviated. If someone wants to buy a cup of coffee for 99 cents, they will be able to. And the cost for doing so will only be a few cents as opposed to the exorbitant fees charged by credit cards and other cryptocurrencies now. There is a revolution in Internet commerce coming, and Monetran is going to be right in the middle of it. We intend to be a currency for the people.”
For further information or to schedule an interview, contact:
Don Bielak (732) 984-1983
dbielak@aol.com
