In March 2018 our product MeMe Care was launched along with its first brick and motor clinic in Durgapur, West Bengal (India). We wanted the product to be rolled out at multiple locations across India as well as take the product for a global rollout. For the global rollout MeFy Pty. Ltd. was incorporated in Australia which is 100% owned by its founders and directors.
We are in the process to split MeMe Information Technology in India to take care of our 2 separate line of business and the new entity will be owned by its directors and founders (80% or more) and the remaining by MeMe’s seed investors and Ambuja Neotia.
CEO
So from what I understand:
MeMe Information Technology Private Limited and MeFy Pty. Ltd own all the IP rights and manage and own the app.
These companies are owned by the founders and seed investors (not token holders)
MEFY tokens will only serve as a means of payment within the system,
You will also accept and use other types of fiat or cryptocurrencies.
So users have the option to use the token as payment. (But they can use fiat or other crypto as payment as well)
Or they can exchange the tokens on an exchange once they are listed there.
The tokens are effectively a store credit or gift card.