Website : https://www.menapay.io/
Whitepaper : https://www.menapay.io/onepager.pdf
The cryptocurrency industry to many people seem like a get rich quick scheme as it is believed that upon investment, returns of large profit is earned and this is because of the testimonies given by several people from the use of bitcoin which was d first successful blockchain project. Ever since then, many other projects such as Ethereum, bitpay etc. have come up featuring different applications and usage of blockschain which has in turn brought in huge revenue for the industry.
As lucrative and profitable as blockchain projects are, they have not been widely accepted by the masses because there are several challenges on ground which increases the risk involved in their usage and in turn makes it unacceptable by many people. Problems such as security as it is no news that several projects have been hacked and user’s funds were carted away, slow performance and which is bad for trading as transactions becomes stiff and tedious, technical barrier which makes it hard for users that are beginners to enjoy using blockchain technology.
If the full potential of the blockchain industry is to be realized, then these problems have to be alienated which is exactly why the Blockshipping project was created so that the blockchain technology can be applied to various human activities, securely, quickly and cheaply which will .
Problems and solutions in using Cryptocurrency for payment
In market, the price of electronic currencies always fluctuate every second every minute. So the user can hardly use them for payment. But with MenaCash, it was supported entirely by USD (1 MenaCash = 1 USD), will be used as the unit of currency for the transaction according to the MenaPay platform. MenaPay also brings easy-to-use solutions such as desktop and mobile wallet, be integrated API and SDK, reporting and management console for the seller, all with Arabic user interface.
How to Menapay work
MenaPay generate revenues from the fees from transactions P2P (peer to peer) and P2M (peer with the seller) and withdrawal fees from M2F (established merchants).
Green Mining: MenaCash all transactions between the Peer with the Merchant can be granted by the MenaPay token.
The Benefits of MenaPay
- The platform is built on the decentralized blockchain technology which provides a secure and transparent environment for users’ transaction.
- The MenaPay application enables cash out with its MenaCash crypto coin. Here, users are able to cash out their MenaCash tokens to cash through the MenaPay foundation.
- Cryptocurrencies are known to be volatile with unstable value for that, the MenaCash is created as a stable cryptocurrency that is backed by the US dollar which will be equal to 1 MenaCash token at all times.
- The MenaPay application is user-friendly with an easy interface for mobile and desktop application, APIs and SDKs for easy integration. Also made available is Arabic language interface since the target market is the Middle East and many more features.
- The MenaPay application uses an incentive system where token holders and users will be motivated and rewarded. The project aims to share 75% of revenue generated and profit amongst token holders of MenaPay. The platform users will be rewarded base on the level of their participation.
- The target market is skeptical to use the traditional banks because of their religious beliefs. The MenaPay project is totally (100% ) Islamic non-bank digital solution build on the blockchain protocol.
- A large population of the target population is unbanked due to banks’ poor service and the people conservative approach to Islam. The MenaPay platform will substitute the banks to the people which are created to meet their daily needs and global transactions.
- On the MenaPay platform, the premium merchant will provide a special discount to MenaPay users only.
- Cryptocurrencies cannot be used in daily life transactions because of entrepreneurs. The platform will build an offline reseller network to enable wide exposure, easy entrance and massive adaptation to the use of cryptocurrencies.
- The MenaPay platform will accept 30 major cryptocurrencies for payment and the MenaPay tokens can be purchased through bank transfer and credit card. The token can be pay on the door when the user goes to consummate an offline transaction.
FEB / 2018
APR / 2018
JUN / 2018
50 Merchant Integration (LOI Signed)
JUL / 2018
Beta Test Ready
OCT / 2018
NOV / 2018
Merchant Tools Launch – API & SDK
DEC / 2018
Pre-ICO Start & Mobile Payment Apps Launch
JAN / 2019
FEB / 2019
top 10 Exchanges
APR / 2019
MAY / 2019
in MENA Countries
JUL / 2019
AUG / 2019
Reaching 5 million MenaPay Users
SEP / 2019
OCT / 2019
MenaPay in Asian Countries and reaching 1.000 Merchants
NOV / 2019
-Token Standard: ERC-20
-Soft Cap : 5,000,000 USD
-Hard Cap : 25,000,000 USD
-Tokens To Issue: 400,000,000
-Tokens For Sale: 256,000,000
** They will burn for unsold tokens **
-64% : Public contributors
-11% : Advisors and partnerships
-10%: Founder and team
-10%: Airdrop and bounty programs
-5%: Mining reserve
-30% : Development and infrastructure
-15% : Operation and administration
-10%: Business Development
-5% : Legal
According to the roadmap, MenaCash transaction test will take place this month. Next month September 2018 sees the mobile app beta test of the API and SDK. The project will launch its mobile payment tools in October 2018 with the public token sale (ICO) in November 2018 and the token will finally be listed in one of the 10 exchanges in December 2018.
For more details on the project MenaPay. Check out listed links for more details
Username : segezy
Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile;u=2537990
ETH address : 0xce858e0006cc018631a33dcc202681ff936801df