MENAPAY: CRYPTOGRAPHICALLY SECURED PAYMENT SOLUTION FOR MIDDLE EAST AND NORTH AFRICA REGION

The Middle East and North Africa (MENA) region is home to about 70 million of the world’s poor (living on less than two dollars per day) and 20 million of the world’s extremely poor (living on less than US$1.25 per day). According to a recent survey credited to gallup survey 95 percent of the adults residing in MENA define themselves as religiously observant. The combination of these two facts has produced a growing interest in Islamic finance as a possible tool for reducing poverty through financial inclusion among the region’s religiously conscious Muslim population.

Uneven access to financial services and instruments that are compliant with Shari’ah, or Islamic law, could be one of the contributing reasons for the low number of bank accounts in the MENA region. A mere 18 percent of adults (above the age of 15) have accounts in formal financial institutions, the lowest in the world. There is ample evidence that, if done correctly, increasing access to and the use of various financial services can help both reduce poverty and its severity. With no access to financial services, many of the poor in MENA will continue to be trapped in poverty with little to no chance of escaping it in the foreseeable future.

The primary issue here is that numerous Muslim-headed family units and smaller scale, little, and medium ventures (MSMEs) may intentionally bar themselves from formal money related markets due to religious prerequisites. The Islamic lawful framework has rules and controls relating to the money related exchanges of Muslim adherents. One such tenet is the prohibition of pre-defined interest-bearing loans and other financial services. Another essential precept is "misfortune sharing benefit sharing" which requires money related suppliers to partake in the misfortunes (and benefits) of the business exercises for which they give monetary administrations. The lion's share of traditional money related administrations don't meet these two fundamental necessities, and are accordingly not significant to religiously disapproved of Muslim people and firms needing financing in the MENA locale and different parts of the world. While approximately four percent of respondents without a formal ledger in non-MENA nations refer to religious purposes behind their absence of a record, this figure is around 12 percent for the MENA area. With these issues on ground, 100% Islamic and Non-banking digital solution is needed which matched the menapay’s team innovation

WHY MENAPAY?

What is menapay?: MenaPay is the first, fully backed blockchain-based payment gateway in the Middle East and Africa aim to replaces traditional system of payment with a blockchain-based fully backed cryptocurrency. Blockchain is a technological innovation cryptographically verifiably designed to secured global ledger (smart contracts) that can lead to new types of incentive structures, it has succeeded in cutting across so many economic sectors and industries, disrupting so many organizational frameworks and setting things in order.

MenaPay’s System Structure

Only blockchain will make menapay’s innovation possible, in principle, to switch to a model of payment for targeted actions. Blockchain allows for the implementation of tracking of target actions and saving them in a database transparent for all clients.

PLATFORM MODEL

- P2P Transactions

- P2M Peer to Merchant Payments

- M2F Merchant to Foundation

- Green Mining

BENEFITS OF MENAPAY PLATFORM

• Fast tracking adoption of Digital currency in the region by Building an offline re-seller network.
• Accepting premium merchants who are offering special discounts only for MenaPay.
• Premium merchant campaigns and aggressive marketing that will Reaching 5million active users.
• Acquiring the support of influence creators in the region, such as women in the tech industry, politicians, artists and social 
• Easy and User-friendly interface and Arabic Language Supported Mobile Payment App.

This exceptional idea was born out of Menapay’s Team’s desire to replaces traditional payment methods beclouded with religion and poor banking system with a blockchain-based fully backed cryptocurrency, in order to improve middle east and north Africa in terms of providing a secure and transparent payment gateway to enable transactions for every aspect of daily life

MENAPAY TOKEN

Menapay’s token is an Ethereum Blockchain ERC20 based utility token

Token Specification and Details

Total Supply: 400,000,000

Based on Ethereum ERC20

Based on Ethereum ERC20

Token Name: Mpay

Tokens For Sale: 256M Mpay

Estimated ICO Price: $0,165

Target Soft Cap: $5M

Target Hard Cap: $25M

Unsold tokens will be burned

Token Use Case

Will be use to distribute the majority of the revenue and profit of the MenaPay platform 

TOKEN DISTRIBUTION: Majority of the token(64%) will be sold during the ico, While the remaining 36% will be shared between the team, mining reserve and bounty programs.

FUND ALLOCATION: For fair play sake, the fund generated during the token sales will be majorly use for the advancement of the platform through aggressive marketing, infrastructural building and project development

ROADMAP

TEAM

FOR MORE INFORMATION

WEBSITE

TWITTER

ONEPAGER

WRITER'S NAME: Emmanuel Adeleke

BOUNTY0X USERNAME: Emmyxpress

Wallet: 0x18D60A81a01FB694D943640ab41be40177C71158

#menapayio