Rupaya in its most basic definition is a blockchain company with a noble vision towards South Asia and its people predominantly. I say predominantly as anyone is welcome to benefit from the offerings of Rupaya, and not just South Asians. However their sole concentration on South Asia is not without merit considering how it can be counterproductive to take a one-size-fits-all approach to issues, which the blockchain space is fraught by. For Instance, fiat exchanges claiming to serve the global audience assume everyone has direct access to the US Dollar. So this makes Rupaya sort of an indigenous blockchain entity, set up to cater to the problems directly affecting South Asians. And such laser focus on the part of a company is essential to keeping such business entity dead on its tracks to success.
The major part of South Asia comprises Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. These are all developing countries in need of working economic solutions. And while the world bank recently invented another form of classification to differentiate the different kinds of developing countries, this has done little to actually solve the problem. For instance in this new classification instead of directly referring to India, Bangladesh and Pakistan as developing, they are classified as low-middle income countries, while China and Mexico also developing countries are termed high-middle income countries.
The population of South Asia is around 1.8 billion, about 25% of the population of the entire world. This population size requires solutions that work on a large scale with minimal input from organizations. With India's population of 1.4 billion, considering the issues in India for instance mirrors to a large extent the general problems in South Asia. According to a 2016 study by the world bank some of these economic issues in India include:
It behooves a lot of people to imagine how a blockchain company might even try to tackle some of these problems, let alone actually contributing solutions. But Rupaya being focused on a particular location stands a better chance at delivering the required solutions with their product offerings. Rupaya is people-centric and their plans clearly show this. While big businesses will be able to take advantage of their offerings, it can be argued that their focus is on the common individual. This approach is what would eventually change the general economic landscape in South Asia considering the whole is the sum of the parts.
RUPX is the cryptocurrency powering the Rupaya blockchain which is currently using a Proof-of-work(POW) algorithm but will eventually switch to a Proof-of-stake(POS) algorithm. RUPX is also a masternode coin meaning users who stake their coins in masternodes get profit based on what is being paid out currently. The masternode setup is fairly straightforward with a clear documentation. ROI of the RUPX masternode is currently significant and while it can be posited that the ROI would steadily decline as more masternodes join the network, it should also be noted that the RUPX price would likely increase as well, thereby at least positively balancing out the earnings.
Some of the Issues Rupaya would solve include but not limited to the following:
The Rupaya ecosystem is growing daily as more miners and users are jumping on board. There are plans for a fiat exchange, Atomic swapping which is simply an inter-blockchain exchange baked into the Rupaya blockchain, and prominent exchange listings. A lot of coins have come and gone or simple faded into oblivion, which is quite unfortunate for the blockchain image. This is impossible in terms of Rupaya. An active community usually means growth. On Coinmarketcap Rupaya is roughly around position 700, however to see the true value it is worth visiting Coincodecap where Rupaya sits at an impressive position around 200. This simply means there is active development going on and not just empty promises. Whether you're in it for the long haul or just to make some quick bucks, one thing is certain: Rupaya has come to stay and change the way we interact with the blockchain forever.
