The Philippines is a republic nation located in Southeast Asia with a population of 104 million (the 12th largest in the world in 2016) with a nominal GDP of US $ 304.9 billion (36th in the World in 2016). It has grown rapidly both in population and GDP, expanding by more than 10% in 4 years from 272 billion dollars in 2012. It is expected that this world-class growth will continue to sustain a population of 170 million with GDP of 2.7 trillion dollars in 2050 according to a survey by distinguished research organizations.
The country has been plagued with underdeveloped payment infrastructure, only 3% Credit Card penetration, more than 70% of the population is unbanked, cost to send money to the Philippines is between 6% to 10% and there is inefficient online banking system.
These are the problems that Noah Coin wants to solve, not only in Philippines but also in rest of the world.
What Is NoahCoin?
Noah Coin is one of the cryptocurrencies that supports economic growth through blockchain technology Noah Project seeks to bring about social innovation through blockchain technology and work to solve the economic disparities around the world. A portion of the project’s proceeds will be donated to charity by our parent organization, Noah Foundation
The project works to issue Noah Coin, perform development on Noah City, perform infrastructure development, use funds raised into advertisements and promotions, spread the token, and ensure the circulation of the Noah Coin. Operations for Noah Project will be carried out by the non-profit organization, Noah Foundation, which was founded by sympathizers from a number of industries in order to promote the growth of the economy in the Philippines and solve the various social issues which exist within the country.
Industries NoahCoin Will Disrupt
Noah Coin aims to become the medium of exchange and distribution among farmers who took part in the event. Furthermore, infrastructure for the farmers related to production control, distribution control, and sales management will also be developed through Noah Coin.
Dakak Beach Resort is partnering up with the Noah Project. An underdeveloped area of their property will be transformed into the Noah Resort, and by June 2018, Dakak Beach Resort will start accepting Noah Coin as a payment method in all its facilities.
The contribution of OFWs to the Philippine economy is not unbeknownst to many. OFW remittances currently make up approximately 10% of the country’s gross domestic product (GDP). OFWs send over $26 billion US dollars in remittances every year, so one can’t discount the value they contribute. Noah Coin will help alleviate these issues by eliminating the middleman, thus eliminating high transfer fees.
Retail And Trading:
In the future, Noah Coin Ark Wallet can also be used to pay for utility bills, tuition fees, health insurance, and other bills in the Philippines. Furthermore, the Noah Resort in Dakak Beach Resort will encourage the widespread use of the NOAHCOIN in other areas in Mindanao.
There has never been a cryptocurrency in the Philippines like Noah Coin, which is a digital token that can be used on its own exclusive platform called the Noah Project. Noah Coin will be distributed as a digital currency for various transactions such as remittances, mobile money, discounts, and trading services instead of as a risky investment product that can potentially decrease in value. Indeed, it’s the first of its kind in the market.