At Menergi, the goal of our technological innovation is to develop healthcare systems that equitably improve health outcomes, that respond to people’s legitimate demands, and that is financially fair. We are creating a network that enables citizens to receive free preventative and restorative healthcare procedures via our stable tokens. Menergi tokens will subsidize medical expenses in real-time on a trust-less, secure, and cost efficient network. Our ecosystem utilizes a public blockchain, SMS, USSD, and short range communication for payment of service. It is designed to be an effective funds distribution mechanism with advanced algorithms simplifying the typical intricacies of Blockchain transaction to elemental text communication.It will leverage Africa’s rapid growing $85 Billion remittance market, $8+ Billion health care donation funds and 436+ Million mobile subscriber Markets in the world’s struggle of achieving Universal Health Coverage by 2023.
The problem Menergi Network is addressing relates to the Universal Health Coverage Program initiated in 2015 by the World Health Organization & the World Bank. Their mission is to create universal health coverage for all citizens of the world by 2030. Menergi is focused on the Sub Saharan African Region, where over 150 Million people are at higher risk of not receiving treatment because of financial hardship. Sustainable and affordable healthcare in Africa remains a significant challenge affecting the continent. An astonishing 50% of the Sub Saharan region’s health expenditure is financed by out-of-pocket payments from individuals which is expensive and unaffordable for most. The United Nations is projecting that Africa will be home to the world’s youngest and the second fastest growing population by region in 2020. There now is an anxious call for humanitarian action to ensure the future health of the youth, due to the overall socioeconomic impact of increased population growth.
Menergi Network is public Blockchain enabled to execute transactions through SMS messages/short range communication via mobile-phones. It’s a funds distribution mechanism to subsidize medical expenses in realtime on a transparent/secure/cost effective network, & capable of medical informatics management. From end to end, a donor would send crypto to the Menergi Foundation custodian wallet. This triggers the Menergi equivalent of tokens to be sent from our issuing wallet to disseminate to current wallet holders, minus the operational costs. These tokens will be used as a subsidy for healthcare, making preventative and restorative services affordable. The recipient (patient) will redeem their tokens with a medical provider for free services. In exchange for accepting Menergi tokens from these patients via SMS or USSD, medical providers will redeem their tokens through our foundation or physical Binance Exchange to receive their local fiat. The foundation or exchange will then send these same tokens back to the original issuing wallet to be burned. Once these tokens are destroyed the original cryptocurrency deposited from the donor is released from the custodian wallet back to the foundation or physical exchange.
Majority of the complications solved by blockchain technology are common around the world, yet they are very pervasive in the African region. There is a lack of initiative driving Blockchain integration in the African continent for social good
3 of the world’s top 10 emerging economies reside in Africa. The collective GDP growth rate of the continent is 3.7% which is 3rd in the global economy. This means there is a growing consumer market that will soon experience a surge in digital commodities. These opportunities are further enriched because Africa is home to the largest growing young population in the world.
EMPOWERING THE UNBANKED
Africa has the second largest number of unbanked population after the Middle East.This presents a unique opportunity for digital banking solutions in this region. 350 Million people have not yet been exposed to traditional banking products.
Africa is the second largest destination for remittance reaching over $ 85 Billion collectively. We believe these same remitters will likely leverage a solution. A solution which permits their medical expenses to be handled by their loved ones overseas prior to them visiting a clinic.
According to recent studies by the Gates Foundation, Africa’s population is growing rapidly and is set to reach 2.6 Billion by 2050. By 2030, it is predicted that the number of youth in Africa will have increased by 42%. Africa’s population as a whole is very young, with 60% of the entire continent aged below 25, making it the youngest continent in the world.