Introduction
MenaPay is the first payment platform which is based on blockchain that is focused on North Africa region and the Middle East preliminary. The platform is special not only due to this fact but it also allows transactions with very low fees and the fluctuation of cryptocurrencies do not affect it. MenaPay is much faster and more secure than any traditional payment method.
The design of the platform meets the Islamic finance requirements. No interest is given or used which is proved with the help of the blockchain technology. The revenue of the platform is shared with the MenaPay Token Holders according to the approach of Islamic Finance. They expect that the platform will be a great help in digital transformation of the region.
Token
What is a token? A token in the blockchain ecosystem is a tradable or fungible asset or a utility on a blockchain. The token of MenaPay is a utility token that is going to be issued with a number of 400 million and the number is limited. The public will own 64% of the total tokens. The token of the platform will be used in order to share the revenue of the platform between the holders. The holders will get their share accordingly to the amount of the tokens they have in their wallets. Users can buy MenaPay from exchanges after the ICO.
MenaPay has a stable cryptocurrency – MenaCash. It will be used for transactions by users, merchants and foundation on daily basis. MenaCash will make such processes as transactions between users P2P, between users and merchants P2M and MenaPay Foundation for their MenaCash transaction to fiat currency purposes M2F possible. The transactions between the users will be fast and secure as they will generate MenaCash on the MenaChain private blockchain.
Blockchain
The scalable payment system of MenaPay is built with the help of the designed blockchain platform MenaChain. It is borderless and decentralized. Leaders, miners or coordinators with any special influence do not exist. Each of the nodes is equal. During the testing phase the platform is going to start with a small number of nodes. Afterwards, it will expand and approved organizations that meet basis bandwidth requirements, CPU and storage will run nodes.
MenaChain was created as a private blockchain platform that is why it hides receiver, sender addresses and the amount of the tokens transferred from other merchants. Multisig wallets will be supported by the platform for the corporate users.
Summary
The platform itself is going to have several unusual features. For example, face recognition. They are planning to add this one in 2019 in order to increase security measures. They will also activate family account feature which means that parents will be able to control and monitor the accounts of their children.
All the products will be launched with Turkish, Arabic and English languages but they will add more due to the expansion plan and the platform will support 10 languages.
MenaPay is not only an attractive platform with an unusual attitude but it is also beneficial and worth trying.
Home Page: https://www.menapay.io/
Whitepaper: https://menapay.docsend.com/view/pwjr8rt
#Twitter: https://twitter.com/menapayio
#Facebook: https://www.facebook.com/menapayio
#Telegram: https://t.me/MenaPay
Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=4884588.0
Bitcointalk bounty thread: https://bitcointalk.org/index.php?topic=4918239.0
All picture and video rights belongs to: MenaPay
Author: https://bitcointalk.org/index.php?action=profile;u=1050687
Timestamp: 12NOV2018 17:00UTC
Text Uniqueness: 100%
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