📢[ANN] [ICO] - MenaPay - Crypto made easier than cash - PRIVATE SALE (LIVE)

[Frank37]

I cannot believe electronic payments are so rarely used in the Middle-East and North-Africa. Is MenaPay really the first to take advantage of this gap in the market?

I agree. I think there are existing payment platforms in UAE especially in DUBAI which is a regional financial hub though I don't know any other blockchain based payment platforms that exist in there.

In South America, Exchanges like FoxBit, launch an offensive to popularize more and more payments with crypto in the retail, this and other actions around the World, lead me to think that 2019 will be an important year for this niche and even more for the crypto. Chubby and prosperous projects like MenaPay will have their value recognized very soon

yes but what if that doesn't happen, I think people still choose to use mainstream payments and haven't been so interested in paying for crypto. the main reason is that many people don't know crypto, they only know crypto is bitcoin. but the rest are many lay people who don't understand at all. so crypto payments seem to still not be so popular nowadays.

You are right, but crypto or stock market has to think into the future. If everybody pays with crypto it is to late for entering the market.  

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[Felipeo]

I cannot believe electronic payments are so rarely used in the Middle-East and North-Africa. Is MenaPay really the first to take advantage of this gap in the market?

The same thing applied in some Asian countries also. There are huge market areas to explore.

The Asian market is ripe at this moment for crypto projects, if Governments start appreciating the blockchain technology then it will be easier for everyone. Menapay will expand their hold to asia sooner or later for sure.

[traveler007]

Someone knows - they have competitors? or projects with similar concept, I like this idea, but competitors may hinder their progress.

Yes, they have. Utrust, Monetha, Pumapay, Agate - also developing similar payment platforms. But for different regions...

[Rigorous]

Hey, I watched the video on the MenaPay website and around the 1 minute mark he says something that may have far reaching consequences.

https://www.youtube.com/watch?v=575ZRW3n5PU&feature=youtu.be&t=54

"These core principles are why practising Muslims do not trust centralised authorities such as bank, which are not fully transparent over their transactions"

And a little bit before at 0:38 "each transaction also needs to be witnessed by at least two people".

That means MenaPay and MenaCash must only be traded on-chain, which disqualifies almost every crypto exchange.

[MandatoryOption]

I cannot believe electronic payments are so rarely used in the Middle-East and North-Africa. Is MenaPay really the first to take advantage of this gap in the market?

The same thing applied in some Asian countries also. There are huge market areas to explore.

The Asian market is ripe at this moment for crypto projects, if Governments start appreciating the blockchain technology then it will be easier for everyone. Menapay will expand their hold to asia sooner or later for sure.

I don't think they have plans yet to expand to other regions. They are called Mena for a reason and they really should focus on that region before even thinking about expanding.

[turkandjaydee]

Hello , i see on your roadmap that in August and September 2019 you will have 500 merchant integration and reaching 5 million users, how confident are you about this? Do you already have prospective users and merchants?

[aveon]

Hey, I watched the video on the MenaPay website and around the 1 minute mark he says something that may have far reaching consequences.

https://www.youtube.com/watch?v=575ZRW3n5PU&feature=youtu.be&t=54

"These core principles are why practising Muslims do not trust centralised authorities such as bank, which are not fully transparent over their transactions"

And a little bit before at 0:38 "each transaction also needs to be witnessed by at least two people".

That means MenaPay and MenaCash must only be traded on-chain, which disqualifies almost every crypto exchange.

It's quite interesting. I have never encountered any project like that. I'm curious to see how it's going to be if it's true.

[turkandjaydee]

The Asian market is ripe at this moment for crypto projects, if Governments start appreciating the blockchain technology then it will be easier for everyone. Menapay will expand their hold to asia sooner or later for sure.

I don't think they have plans yet to expand to other regions. They are called Mena for a reason and they really should focus on that region before even thinking about expanding.

Of course they have to focus on that first, but its written on the roadmap that Menapay will expand to other Asia countries in November 2019.

[king_of_alts]

The Asian market is ripe at this moment for crypto projects, if Governments start appreciating the blockchain technology then it will be easier for everyone. Menapay will expand their hold to asia sooner or later for sure.

I don't think they have plans yet to expand to other regions. They are called Mena for a reason and they really should focus on that region before even thinking about expanding.

Of course they have to focus on that first, but its written on the roadmap that Menapay will expand to other Asia countries in November 2019.

Asia os big. I guess they could expand to the neighboring countries of the Mena region that also have los of unbanked people.

[nobytes]

Hey, I watched the video on the MenaPay website and around the 1 minute mark he says something that may have far reaching consequences.

https://www.youtube.com/watch?v=575ZRW3n5PU&feature=youtu.be&t=54

"These core principles are why practising Muslims do not trust centralised authorities such as bank, which are not fully transparent over their transactions"

And a little bit before at 0:38 "each transaction also needs to be witnessed by at least two people".

That means MenaPay and MenaCash must only be traded on-chain, which disqualifies almost every crypto exchange.

Almost every exchange? Are you saying that there are some that qualifies?

[Amelie Poulain]

Hey, I watched the video on the MenaPay website and around the 1 minute mark he says something that may have far reaching consequences.

https://www.youtube.com/watch?v=575ZRW3n5PU&feature=youtu.be&t=54

"These core principles are why practising Muslims do not trust centralised authorities such as bank, which are not fully transparent over their transactions"

And a little bit before at 0:38 "each transaction also needs to be witnessed by at least two people".

That means MenaPay and MenaCash must only be traded on-chain, which disqualifies almost every crypto exchange.

Almost every exchange? Are you saying that there are some that qualifies?

Maybe he means decentralized exchanges, such as IDEX or Forkdelta? Decentralized exchanges still have drawbacks, the main ones are low volumes.

[king_of_alts]

Hey, I watched the video on the MenaPay website and around the 1 minute mark he says something that may have far reaching consequences.

https://www.youtube.com/watch?v=575ZRW3n5PU&feature=youtu.be&t=54

"These core principles are why practising Muslims do not trust centralised authorities such as bank, which are not fully transparent over their transactions"

And a little bit before at 0:38 "each transaction also needs to be witnessed by at least two people".

That means MenaPay and MenaCash must only be traded on-chain, which disqualifies almost every crypto exchange.

Almost every exchange? Are you saying that there are some that qualifies?

Maybe he means decentralized exchanges, such as IDEX or Forkdelta? Decentralized exchanges still have drawbacks, the main ones are low volumes.

I also think he means DEX. In a few months or years there will be better ones where you can trade coins not only ethereum tokens.

[ParRus]

Hey, I watched the video on the MenaPay website and around the 1 minute mark he says something that may have far reaching consequences.

https://www.youtube.com/watch?v=575ZRW3n5PU&feature=youtu.be&t=54

"These core principles are why practising Muslims do not trust centralised authorities such as bank, which are not fully transparent over their transactions"

And a little bit before at 0:38 "each transaction also needs to be witnessed by at least two people".

That means MenaPay and MenaCash must only be traded on-chain, which disqualifies almost every crypto exchange.

Almost every exchange? Are you saying that there are some that qualifies?

Maybe he means decentralized exchanges, such as IDEX or Forkdelta? Decentralized exchanges still have drawbacks, the main ones are low volumes.

I also think he means DEX. In a few months or years there will be better ones where you can trade coins not only ethereum tokens.

You are right, IDEX exchange every day becomes more popular, but in order for their servers to withstand the load they need to think how to stop soft-bots from trading.

[bitcoin-shark]

Someone knows - they have competitors? or projects with similar concept, I like this idea, but competitors may hinder their progress.

Yes, they have. Utrust, Monetha, Pumapay, Agate - also developing similar payment platforms. But for different regions...

in fact, the market seems full of more or less similar projects, the difference can be done in addition to the unique features by the launch on markets not yet saturated with crypto projects such as middle-east and African continent...

[MandatoryOption]

Someone knows - they have competitors? or projects with similar concept, I like this idea, but competitors may hinder their progress.

Yes, they have. Utrust, Monetha, Pumapay, Agate - also developing similar payment platforms. But for different regions...

in fact, the market seems full of more or less similar projects, the difference can be done in addition to the unique features by the launch on markets not yet saturated with crypto projects such as middle-east and African continent...

It's no wonder that there are a lot of similar projects. To have a new, innovative idea for a project is very rare. But I don't see a big problem in this. How do you say? Competition is good for business. There can be more successful, coexisting projects in the end. For example because they are focusing on different regions or a different group of customers/users.

[belechau]

Currently, I think that all projects interested in the listing in exchanges like Idex, Forkdelta, should take into account the sanctions that some have been suffering from regulatory pressures, that could differentiate exchanges and currencies in the near future

[Rigorous]

I also think he means DEX. In a few months or years there will be better ones where you can trade coins not only ethereum tokens.

You are right, IDEX exchange every day becomes more popular, but in order for their servers to withstand the load they need to think how to stop soft-bots from trading.

IDEX is a hybrid exchange. The final settlement takes place on IDEX' systems (explaining why IDEX was unavailable a while ago), introducing a bit of a black box. So I am unsure IDEX would qualify as sufficiently transparent for Islamic banking.

That only leaves the fully on-chain decentralized exchanges, and perhaps over-the-counter (over-the-internet)?

[chichidori]

I cannot believe electronic payments are so rarely used in the Middle-East and North-Africa. Is MenaPay really the first to take advantage of this gap in the market?

The same thing applied in some Asian countries also. There are huge market areas to explore.

The Asian market is ripe at this moment for crypto projects, if Governments start appreciating the blockchain technology then it will be easier for everyone. Menapay will expand their hold to asia sooner or later for sure.

If menapay can come close to tencent payment it might have a chance to play with the big boys, but for now they should be targeting there region and try to expand inch by inch.

[king_of_alts]

I also think he means DEX. In a few months or years there will be better ones where you can trade coins not only ethereum tokens.

You are right, IDEX exchange every day becomes more popular, but in order for their servers to withstand the load they need to think how to stop soft-bots from trading.

IDEX is a hybrid exchange. The final settlement takes place on IDEX' systems (explaining why IDEX was unavailable a while ago), introducing a bit of a black box. So I am unsure IDEX would qualify as sufficiently transparent for Islamic banking.

That only leaves the fully on-chain decentralized exchanges, and perhaps over-the-counter (over-the-internet)?

Probably yes, but OTC is a pain in the ass and a reason why exchanges exist in the first place. A Dex supporting atomic swaps would be the best solution I think. Something like the Komodo exchange.

[Gocu]

I see that there are Turkish businessmen. Will there be other businessmen to be added to the team?