The MTRAC Mission
Near the end of 2016, a time that spawned monumental change in our country, the MTRAC management team set out to develop financial and marketing solutions for high-risk businesses operating in high-cost banking industries. Along the way, it became clear that a convergence of finance and new technologies was altering the landscape of existing markets, while wielding the potential to create new economies in the process.
The MTRAC mission evolved into a collective team goal to embrace these new technologies and deliver a cashless, compliant payment platform to legal businesses that are being excluded from participation in the traditional banking model.
The MTRAC Elements
The result of MTRAC’s solutions initiative was the creation of a multi-faceted revenue model with diversified offerings and equity holdings across a spectrum of sectors, including payments, marketing, and compliance verticals, which comprise the MTRAC elements.
MTrac is exclusively licensed to deliver GreenBox technology to ‘high-cost banking’ verticals. The MTrac system, or ecosystem, is built on blockchain technology, which holds real solutions for modern commerce. In the ecosystem, customers and companies participate in a new age technology, which is helping to solve safety and regulatory issues associated with high-volume ‘cash only’ operations.
At the consumer level, fiat currency is deposited into a closed loop system, where the value of the currency becomes a blockchain key, or a unique code, and remains in a one to one ratio, because the value of the key can’t be affected by market forces. Funds in the form of a key are available for the consumer immediately to transact with merchants and for merchants to transact with vendors.
Merchants, who have been denied access to traditional banking services and are forced to run ‘cash only’ operations, can now take control of their business on the MTrac platform with the ability to process all expenses digitally, including but not limited to taxes, payroll, rent, and energy bills, in compliance on the blockchain ledger.
As one of MTRAC’s strategic partners, ICS provides all of MTrac’s compliance and background checks on new merchants prior to engagement. With cannabis as the highest risk in the retail space, having a compliance partner such as ICS is an invaluable asset to MTrac’s growth and longevity.
As an equity holding asset, MTRAC looks to draw value from the growth of ICS as the industry leader in cannabis regulatory compliance software and innovative, cost effective merchant payment solutions