MenaPay – safe system that allows you to perform financial transactions in the Middle East and North Africa

lamlamia

Residents of countries in the Middle East and North Africa practice Islam. In this regard, most state agencies, including banking institutions depend on the influence of this faith. According to the canons of faith:

people can't get income with the help of interest;
each agreement shall be concluded in the presence of at least 2 witnesses;
getting passive income is possible only under condition of investment in real business.

All these judgments, which met 97 percent of the residents of the above regions, a negative effect on the financial institutions and e-Commerce. In other words, the inhabitants of these countries are not able to use a Bank card or mobile app to pay for goods and services.

despite this, However, in the Middle East many people and North Africa support the use of Blockchain technology. The reason for the positive attitude towards this technology is that it to confirm each transaction requires the participation of at least 3 persons, which meets the requirements of Islam.

Therefore, to ensure the normal operation of e-Commerce in the countries with the Muslim faith, a decision was made to create a system MenaPay.

The purpose of the project

The main goal of the developers is the ability to use virtual currency to pay for goods and services in the countries of the Middle East and North Africa.

The principle of operation

Interaction on this platform will be carried out between ordinary users, vendors, companies involved in the provision of services, as well as official Resellers. Thus, in order to become a member of the platform MenaPay, each of them will have to go through the registration process and provide all the necessary documents. Only after the verification of the compliance of the participants will be included in the system.

Registration of ordinary users will be using mobile phone and will be available only to persons older than 18 years. Later in the system will be implemented a parental control system, allowing to dispose of the funds for younger children.

Absolutely all the operations in the network will be operated using the internal currency platform MenaCash. This currency is unlike most modern cryptocurrency assets will be stable, and its cost will always be $ 1.

This virtual currency can be used for the following types of operations:

P2P;
P2M;
M2F.

Through the use of Blockchain technology operations using this digital currency will have high speed and security.

The second token will MenaPay. This token will be sold in the framework of the ICO. The holders of this coin will be able to profit from the site. However, it should be noted that when using coins MenaCash dealers, Resellers and root users will also be given the opportunity to receive tokens MenaPay, even if they had not owned these coins.

Dates and details ICO

The ICO will be sold 256 million coins In the framework, accounting for 64 percent of the tokens of the whole issue. Start public sales is scheduled for February 2019. The cost of 1 coin is 1 dollar.

Softcap of the project is $ 5 million, hardcap – $ 25 million.

The distribution of tokens and money as follows:

Conclusion

Given the fact that Blockchain technology in contrast to traditional banking institutions supported the Muslim faith, it's safe to say that the system MenaPay can easily enter into the daily life of the inhabitants of the countries of the Middle East and North Africa. Another fact in favor of this statement is that the main project offices located in the UAE, which in turn is the key to a successful start. Also, special attention should be paid to the audience of this project that is guaranteed to use the services MenaPay.

If you pay attention to the fact that a large portion of the proceeds will be distributed among the owners of the tokens MenaPay, it becomes clear that investing in this project is very profitable.