What is mCoin?
ONEm is introducing a new cryptocurrency that works without the Internet. mCoin is a cash like Blockchain payment system. It has a unique debit card like feature of recording transaction details. It is available to everyone with or without Internet access, with strong focus on the emerging markets.
The Internet has revolutionised many industries. It has become a global means of communicating, learning, and trading without borders. Yet, it is not ubiquitous, with billions of people still left unconnected globally.
Inclusive economic growth in emerging markets is the surest path to prosperity. ONEm believes the catalysts for sustainable, inclusive economic growth are:
Unrestricted access to technological innovations which connect people, businesses, markets, jobs and opportunities;
Better fnancial inclusion to encourage economic participation from people and businesses.
Blockchain innovations are disrupting the centralised and trust-based payment transaction systems. These innovations provide an efcient, secure and transparent system for transactions at a low cost. Unfortunately, they are almost only available on the Internet. As a result, 3.5 billion people globally still can not take part in Blockchain innovations for social and economic growth.
mCoin is a unique, inclusive cryptocurrency, available with or without the Internet (hybrid). It uses Litecoin Blockchain technology to create a cash like payment system that also works without the Internet. mCoin creates a fnancially inclusive opportunity for unbanked people and businesses. Together with ONEm applications, mCoin will generate more economic activities with transaction records. These records will establish a trusted credit history for everyone. Having a credit history is a step towards micro-fnancing in emerging markets.
mCoin’s hybrid access and fnancially inclusive approach will speed up economic growth in emerging markets. Its high utility demand will pave way for improved prosperity for everyone.