MenaPay - Bank of the Middle East

 
In the world where there are hundreds of countries, some countries are developed in terms of their financial systems, and some countries do not have any economic model. The banking systems of certain states are so advanced (!), Those who want to launder money, tax evaders, those who want to open a fake company account always invest their money in those countries. Few of the people in the undeveloped country use the banking system. Therefore, people who cannot reach the banks and do not use any modern payment and investment tools are called mayan unbanked araç, ie Dolayısıyla people without a bank Dolayısıyla.
So how do you feel like you say how many bankless people there are in the world? In the infographic below, you can see people who are not reachable by percentage based banks according to the continents.


When you look at the numbers, it is noteworthy that Africa and the Middle East regions are not developed in terms of the financial system. The number of people without a bank on two continents is about 450 million. This means that he has to carry and use cash in people's daily life. He also encounters problems such as cross-border trade and cash in cash, detecting counterfeit money.
MenaPay, a block chain based digital payment system, set out to build the world's largest cash-free community, is a Blockchain Startup that has emerged to address the problem of banklessness. As the name implies, the project was created for the Middle East and Africa regions and it aims to open up to Asia later
   
So, what exactly is MenaPay? This initiative issued by Turkey's Bosphorus Ventures of the largest investment funds, users secure their money in everyday life, it aims to ensure their data center over a non-fast and platforms. While targeting the MENA region, it plans to comply with Islamic finance rules. For example, it is mentioned in the Whitepaper that there is no interest in the system.
In addition, MenaPay Foundation, which plans to create a revenue sharing model by removing the MenaPay token, plans to distribute 1000 menaPay wallets every month for the first day of the three months.
Since a digital payment system cannot be considered as a variable in price, such as Bitcoin, Ethereum and other crypto coins, MenaPay is planning to make a stable coin indexed to MenaCash by creating its own blockchain, in addition to the MenaPay token. It is important that MenaCash, which is planned to be used in transactions such as e-commerce and cross-border payments, has a fixed value. Taking into account that there are only 18 different currencies in the Middle East and the devaluation risk of these, we can think that MenaCash could be a good alternative to the 450 million people in the MENA region.
As a result, looking at the number of people in the Middle East and Africa region without a bank, it is seen that there is a huge deficit in the market. There are other dollar-indexed coins, but none of them is intended to be a regional payment system, they are used more often in crypto money trades. Thus, the startup of a Blockcha from Turkey will be able to take a share of this market, both our countries would be quite pleasing news for our people. I wish MenaPay and his team success in this challenging and challenging way.

https://bitcointalk.org/index.php?action=profile;u=2226015

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