📢[ANN] [ICO] - MenaPay - Crypto made easier than cash - PRIVATE SALE (LIVE) - page 27.

levyashin

sr. member

Activity: 980

Merit: 276

$CYBERCASH METAVERSE

Quote from: ?? on ??

Quote from: bitcoin-shark on November 10, 2018, 05:31:23 PM

Quote from: traveler007 on November 10, 2018, 02:04:14 PM

Quote from: ParRus on November 07, 2018, 05:48:51 PM

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...

I think those projects listed above will be direct competitors of this project and that competition should bring out the best on each and everyone of them.

They have a partnership with Pumapay so it seems they don't agree with you in that manner.

Or maybe they don't see as a threat because of focusing different regions.

batuhantstknn

member

Activity: 566

Merit: 29

Quote from: Gocu on November 11, 2018, 04:26:55 AM

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

Time will show that Wink

wissy

full member

Activity: 658

Merit: 102

Quote from: Thyphon on November 11, 2018, 04:27:04 AM

It will provide solutions especially to all financial problems in the Middle East and Africa. The fact that the princess of Saudi Arabia is supporting this project is really remarkable.

People see the benefit of crypto in all parts of the world and i am not surprised that they got support by people in high places. Countries need to accept crypto as a countermeasure to potential economy crisis caused by banks abroad.

Thyphon

jr. member

Activity: 98

Merit: 2

It will provide solutions especially to all financial problems in the Middle East and Africa. The fact that the princess of Saudi Arabia is supporting this project is really remarkable.

Gocu

member

Activity: 302

Merit: 12

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

king_of_alts

member

Activity: 476

Merit: 10

Quote from: Rigorous on November 10, 2018, 08:01:59 PM

Quote from: ParRus on November 10, 2018, 05:23:54 PM

Quote from: king_of_alts on November 10, 2018, 05:10:29 PM

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.

chichidori

legendary

Activity: 1694

Merit: 1003

Quote from: Felipeo on November 10, 2018, 01:27:35 PM

Quote from: pynetx on November 10, 2018, 12:21:52 PM

Quote from: Rigorous on November 09, 2018, 03:56:07 PM

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.

Rigorous

full member

Activity: 574

Merit: 115

Quote from: ParRus on November 10, 2018, 05:23:54 PM

Quote from: king_of_alts on November 10, 2018, 05:10:29 PM

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)?

belechau

full member

Activity: 686

Merit: 100

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

MandatoryOption

member

Activity: 546

Merit: 12

Quote from: bitcoin-shark on November 10, 2018, 05:31:23 PM

Quote from: traveler007 on November 10, 2018, 02:04:14 PM

Quote from: ParRus on November 07, 2018, 05:48:51 PM

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.

bitcoin-shark

hero member

Activity: 2968

Merit: 605

Quote from: traveler007 on November 10, 2018, 02:04:14 PM

Quote from: ParRus on November 07, 2018, 05:48:51 PM

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...

ParRus

full member

Activity: 490

Merit: 104

Quote from: king_of_alts on November 10, 2018, 05:10:29 PM

Quote from: Amelie Poulain on November 10, 2018, 04:54:50 PM

Quote from: nobytes on November 10, 2018, 04:33:25 PM

Quote from: Rigorous on November 10, 2018, 03:26:57 PM

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.

king_of_alts

member

Activity: 476

Merit: 10

Quote from: Amelie Poulain on November 10, 2018, 04:54:50 PM

Quote from: nobytes on November 10, 2018, 04:33:25 PM

Quote from: Rigorous on November 10, 2018, 03:26:57 PM

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.

Amelie Poulain

full member

Activity: 518

Merit: 101

Quote from: nobytes on November 10, 2018, 04:33:25 PM

Quote from: Rigorous on November 10, 2018, 03:26:57 PM

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.

nobytes

full member

Activity: 364

Merit: 101

Quote from: Rigorous on November 10, 2018, 03:26:57 PM

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?

king_of_alts

member

Activity: 476

Merit: 10

Quote from: turkandjaydee on November 10, 2018, 03:57:45 PM

Quote from: MandatoryOption on November 10, 2018, 03:39:36 PM

Quote from: Felipeo on November 10, 2018, 01:27:35 PM

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.

turkandjaydee

hero member

Activity: 1456

Merit: 567

Quote from: MandatoryOption on November 10, 2018, 03:39:36 PM

Quote from: Felipeo on November 10, 2018, 01:27:35 PM

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.

aveon

member

Activity: 434

Merit: 10

Quote from: Rigorous on November 10, 2018, 03:26:57 PM

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

hero member

Activity: 1456

Merit: 567

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?

MandatoryOption

member

Activity: 546

Merit: 12

Quote from: Felipeo on November 10, 2018, 01:27:35 PM

Quote from: pynetx on November 10, 2018, 12:21:52 PM

Quote from: Rigorous on November 09, 2018, 03:56:07 PM

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.

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