MenaPay –Crypto Payment Solution to Middle East and North African Region
Overview:
MenaPay is a blockchain project which is aiming to integrate blockchain in payment system in the Middle East and Africa. This project is replacing the traditional payment methods with blockchain based payments where cryptocurrency will be used. MenaPay states that it will distribute 75% of total profit to the token holders.
Cryptocurrency as a Payment Method:
Today cryptocurrencies are only used for speculations. People have not yet adopted these digital currencies to use in daily lives due to their volatile nature. MenaPay is providing a gateway for people to actually use cryptocurrencies for making payments. The MenaCash will be used in this platform. 1 MenaCash will be equal to 1 USD. For enhancing the user experience and making the process easy, MenaPay platform is coming up with mobile wallets integrated with APIs and SDKs. These will consist of Arabic user interfaces.
Solutions to the Problems Faced Today:
In the Middle East and African region there is no access to regular banking tools. The banking system is not so developed there due to the conservative practise of Islam. MenaPay is thus providing an ideal solution to them by developing an Islamic, non-bank digital platform. The people of these regions now can use single digital currency to make payments quickly and they can even carry out cross-border transactions.
MenaCash will operate over private blockchain. This will prevent the price fluctuations and will give faster payment speed to the users. The project will get its revenue from the fees which will be collected during P2P (peer to peer) and P2M (peer to merchant) transactions and cash-out fees from M2F (Merchant to Foundation).
Team:
Tolga Odoğlu – Managing Director
17 Years of experience on investment, portfolio management and finance. Management experience for more than 10 years. He held the position of Derivative Market Manager at Meksa Yatirim for 10 years.
ilker cikrikcili - CMO
He was the Managing director at GKFX for 2 years where he was responsible for driving, planning, executing and tracking online marketing activities of 10+ countries at GKFX. He also worked in Vodafone IT as a Software Specialist. He was the project manager/ business analyst at ASPone ltd for one year.
Tuna Orbay – CTO
He is a co-founder of BARAKATECH. He also co-founded Nokta where he worked for 12 years. He has done his graduation from Middle East Technical University. He has expertise in Online & Mobile Marketing, Social Media and Mentoring.
Token Matrix:
Token – MENA
Total Supply – 400 Million MENA
Price – $0.165 USD
Soft Cap – $5M USD
Hard Cap – $25M USD
Verdict:
Pros:
• The team behind this project has experience in fields such as It, software development, business development, marketing. Finance, portfolio management etc.
• The advisors for this project have different backgrounds like advertising, marketing, digital branding, IT and many more fields.
• The roadmap of this project is well drafted and consist of complete information about the events.
• This project has partnered with Aslanoba Capital, Altana Wealth Ltd, Boğaziçi Ventures, Gedik Investment and S4MINING.
Cons:
• The project has low social media hype as it has around 700+ followers on Twitter and around 300+ members on Telegram.
• The MVP of this project is currently not available.
• The whitepaper is yet to be released.
Website: https://www.menapay.io/
One Pager: https://www.menapay.io/onepager.pdf
Telegram: https://t.me/MenaPay
Twitter: https://twitter.com/menapayio
Bounty0x name: rashmishetty
Bitcointalk Username: rshetty3344
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1907004
ETH address: 0x137F3CC2750C9b9bF639Cd4Bf8CB63c56823aC3c