INTRODUCTION
Finance.
The finance sector is one of the fastest growing sectors in the world because every other individual, organizational and governmental sectors all submits to it, so it grows on a daily basis and because finance is and will always be a thing in mans' life it's never going to stop growing and expanding.
Finance goes way back which started from the ancient people who began the trade by barter system and it gradually advanced to using paper money and the advancement didn't stop there as the creation of the internet came into view a strong disruption began happening which the finance sector heavily benefits from.
Internet.
This is one of the greatest revolutionary feat achieved by man, I mean the internet could make you do absolutely anything... anything at all.
The creation of the internet has brought about more good to the masses especially to the finance sector, it made financial institutions and services come into view make it work better and faster, and still all of the benefits of the internet has still not been achieved as it is still harvested.
Blockchain. Cryptocurrency.
This is still by far the greatest technological advancement culled from the internet in respect to financial services.
The blockchain technology was created in 2008 by Satoshi Nakamoto and housed the worlds' first cryptocurrency "Bitcoin", the creation of this type of currency together with the blockchain brought with it countless benefits that can be applied in almost every aspect of life but right now only the financial aspect is being harvested and it is making the finance sector become robust everyday.
The blockchain technology is currently being used as a payment gateway just like banks but highly advanced, banks keep suffering from lack of security and slow transaction process which the blockchain is able to solve with ease as it is best at protecting user assets, executing transactions with lightning speed.
What is MenaPay?
The phrase "Mena" is an acronym referring to the Middle East and North African region which covers an extensive region stretching from Morocco to Iran including all Mashriq and Maghreb countries and have an estimated population of 440 million people.
MenaPay is a blockchain based digital payment gateway primarily setup in the Mena region to perform fast cashless transaction with ease. MenaPay aims to build a large ecosystem comprising of both merchants and consumers that will make use of the MenaPay blockchain service to execute all kinds of online payment such as e-commerce, the usual peer-to-peer (p2p) transaction, online and even offline transactions and also to be used in everyday life such as shopping malls, restaurants, gas stations, vending machines and every other situations where the common paper money is used including being integrated into every possible industry.
And, just like every other blockchains having its' own standard cryptocurrency MenaPay also has its' own special internal currencies but in this case it has two currencies which are the MenaPay Token and MenaCash.
The MenaPay Token (MPAY).
This is one of the internal cryptocurrencies of the MenaPay ecosystem and a utility token with a total supply of 400 million but only 256 million of the MenaPay tokens will be available for the public to purchase which can be purchased during the Initial Coin Offering (ICO) period.
Go to www.menapay.io to purchase the tokens.
The MenaCash.
This is a balanced currency of the MenaPay ecosystem having the same unit as the US dollars will be used for daily and limitless transactions between users, foundation and merchants. These daily transactions can be executed by three dynamics in the MenaPay system which are; Peer-to-peer (P2P) transactions, user and merchants (P2M) and transactions between approved merchants and MenaPay foundation (M2F) which primarily works for converting MenaCash to Fiat currencies.
MenaCash will be generated on the MenaChain private blockchain to ensure that user assets are secure and also enables fast transactions between the users.
MenaPays' major purpose is to replace traditional payment methods with a blockchain-based, fully backed cryptocurrency to ensure maximum security and transparent payment gateway enabling transactions for every aspect of daily life.
Related Links;
Website: http://www.menapay.io
Whitepaper: https://menapay.docsend.com/view/pwjr8rt
Writer's Info;
Bountyox username: jude07