The menpay platform uses the blockchain technology to ease the basis of making payments in the middleeast and the North of Africa(menaregion). It is a platform that allows all forms of transactions at very low transactions fees. This transactions and payments are secure, fast and are not affected by fluctuations unlike other traditional payment gateway.
The menapay platform is designed to comply with religious requirements and does not use or give interest. The menapay platform has it’s own stable coin called the menacash , which will be pegged at one USD dollars. The menacash can be used online and offline for transactions for various daily activities like paying for a cup of coffee without using cash but menacash. The warranty that ensures that the menacash token will remain stable is that each menacash token will be backed with a USD dollar which will kept in multiple banks as fiat currency.
The vision of the menapay platform is to be the commonest used cryptocurrency in the Mena region and carry a mission of becoming the largest non- bank payment solution by the usage of blockchain technologies.
The menapay token holders will be the center of a large society to distribute traditional banking system in Mena and create advanced decentralized structures.
The menapay token and the menacash are very differents. The menapay token is what represents a particular fungible asset on a blockchain. This token is issued with a limited number of 400 million, were 64% of the total token will be issued to the public.
The menacash is a cryptocurrency that is stable. This menacash can be used for transactions daily between 3 dynamics in the system. These dynamics are: users, merchants and the foundation. Payments between users peer to peer, between users and merchants per to merchant and between Approved merchants and the foundation for conversion of their menacash to fiat currency purposes merchant to foundation.
In all payments circulation menacash will always be equal to the us dollars in the menapay bank account. This will ensure 1 Menacash = 1USD.
The menapay brings mind blowing solutions to various problems. These problems are : single payments method for online shopping, counterfeit money problem, Dependent Central Authorities, cross border money transaction and obligation of carrying cash. The solutions to this problems are : using the menapay products, more digitalized stable currency menacash from the platform introducing new reward model which works via green mining for users of menacash.
The products of menapay will enable users make use of the menapay platform with easy. These products can be downloaded and installed from Google play store and Apple App Store. These products include the KYC which is also used to ensure no illegal activities are performed on the menapay platform. The menapay Dashboard for making decisions on your account, reseller Application for providing good experience on transaction payments, mobile and Desktop payment App (wallet) for account schedule for users. Merchants are the building blocks of the menapay ecosyatem along with individual users.
In conclusion, the revenue generating methods of menapay do not include interest methods. Menacash equivalent USD is kept in the accounts of menapay. This money will never be subjected to interest.
The accounts are interest free. In case of large sums of money, the money will be held in baskets of gold, different fiat currencies and estate assets.
More Information
Website: https://www.menapay.io
WhitePaper: https://www.menapay.io/onepager.pdf
Telegram: https://t.me/MenaPay
Facebook:https://www.facebook.com/menapayio
Medium:https://medium.com/menapay
Twitter: https://twitter.com/menapayio
Instagram:https://www.instagram.com/menapay/
Author: https://bitcointalk.org/index.php?action=profile;u=2170055