MENAPAY: FIRST ISLAMIC CRYPTOCURRENCY BASED PAYMENT PLATFORM
Cryptocurrency and blockchain technology as we all know represent a shift that is disrupting the financial service industry, the duo has always been implicated in the reshaping of how the payment system operates. However despite the fame of cryptocurrency and its wide acceptance by many, using it as a means of payment for day-day purchase has not been an easy feat to achieve and this to an extent hampers its potential as a widely adopted currency. To foster the massive and mainstream adoption of cryptocurrency, a platform named Menapay has emerged to replace traditional payment method with cryptocurrency mode of payment.
Menapay is a blockchain-based payment platform situated in the Middle East Africa where the major religion practiced is Islam and as a result, regular banking tools are not utilized, hence they are faced with the challenges of poor banking system. The platform introduces a blockchain-based 100% non-bank digital solution to the challenges of people in the above mentioned location
One of the barriers to mainstream adoption of cryptocurrency is price volatility. Most cryptocurrency have only a fixed total supply, and yet demand for the coins is uncertain and constantly fluctuating. The need for stability is an important factor for any coin to be considered a trusted medium of exchange, the more the price of a coin rises and fall, the more people will shy away from using the coin for everyday transactions. This is the challenge with most cryptocurrency and why it has been difficult for them to be adopted as a means of daily payment. To this end, Menapay platform introduces Menacash, a stable cryptocurrency backed by USD which will be utilized as the means of carrying out transactions under the Menapay platform.
FEATURES OF MENAPAY
- Peer-peer transactions
- Peer-merchant payments
- Merchant to Foundation transactions
- Green Mining
Users will be able to download and install Menapay desktop and wallets which are user friendly with Arabic interface to foster easy understanding for the Arabic people who are the main users of the platform. 1 Menacash will be equal to $1 and it can be cashed out with ease. Menacash being a stable cryptocurrency will eliminate challenges of price fluctuations and volatility and unlike the traditional debit and credit cards, it would ensure swift and seamless transactions.
TOKENS
The tokens to be used are known as Menapay tokens. It is based on the ERC-20 smart contracts and will serve as means for distributing revenue and profit made on the Menapay platform to its users. Revenue will also be generated from fees from peer-to-peer and peer-to-merchant transactions done on the platform as well as cash out fees paid by merchants to the Menapay foundation. Tokens to be sold at the Menapay TGE crowd sale are the Menapay tokens.
TOKEN SALE INFORMATION
Token Ticker: MPay
Type: ERC-20
Maximum Supply: 400,000,000 Mpay
Token for sale: 256,000,000 Mpay
Estimated ICO Price: $0.165
Soft Cap: $5,000,000
Hard Cap: $25,000,000
For more information about Menapay, kindly visit:
Website: https://www.menapay.io/
Whitepaper: https://www.menapay.io/whitepaper_en.pdf
Facebook: https://www.facebook.com/menapayio
Telegram: https://t.me/MenaPay
ANN Thread: https://bitcointalk.org/index.php?topic=4884588.0
Writer: Crypto4ruby
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1788350