Dallas-based Maison Reserve & Co. has chosen Ethereum to build a new cryptocurrency that is tied to the supply and demand of various products.
Maison Reserve Unleashes a New Rewards Token Based on Ethereum
Maison was attracted to Ethereum for several reasons. For one thing, the blockchain boasts smart contract capabilities, making it relatively easy to establish new decentralized applications (dapps) and digital tokens. In addition, Ethereum has allegedly been on a deflationary path ever since the “London” upgrade that took place a few weeks ago. Lastly, transaction costs have significantly decreased on the Ethereum blockchain over the past several months.
In a recent statement, Daniel Anton – one of the lead investors behind Maison – explained:
By using smart contracts, we can maximize the efficiency, reliability, and transparency of every action that occurs not only during manufacturing, but also on sales and loyalty reward cycles. It’s a massively interconnected industrial smart contract, with integrated real-time capabilities, secured and powered by blockchain.
The system operates in a unique and meaningful way. The company sells a product that any consumer would use on a daily or regular basis. Shampoo, soap, toothpaste, and deodorant come to mind, for example. From there, the company sells the product at a price similar with that of a competitor. Maison then gives purchasing customers as much as 50 to 75 percent back in the form of the company’s cryptocurrency, which is known as MRSV.
This digital currency is doled out through scanning a QR code included in the packaging of the product in question. This digital money can then be exchanged for fiat currency (USD), Ethereum or bitcoin. Otherwise, if customers choose to save their MRSV, they can use these tokens for future purchases through the Maison website or through its partner sites.
Continuing his statement, Anton mentioned:
When looking for our next investment, Maison Reserve & Co. was a no-brainer. It’s extremely rare to find a company in this industry that isn’t chasing projected revenue models which fail 95 percent of the time in a spectacular way. Building the foundation with long-term growth in mind is what we’re focusing on. ROI comes later.
Trying to Keep Prices Fair
Maison has established itself as a leading manufacturer of everyday household products. The company has focused primarily on establishing a long list of clients that return consistently, which is why the firm is so adamant about selling products at cost rather than adding extra things to the final price, which is what so many other enterprises seem to do.
At the time of writing, the company has received equity funding from investors all over the United States, many of which hail from Dallas. These investors are led by Daniel Anton, who is presently in charge of a fund consisting of more than $200 million in FX derivatives.