Noah Coin is a cryptocurrency platform mostly aimed at providing Philippines-to-Japan trading and market relationships. The project started in 2016 by the Noah Foundation.
The current state of the Philippines
The Republic of Philippines, is a unitary archipelagic country in Southeast Asia. It is only the 63rd country in terms of size but 12th in terms of population. The Philippines has gross domestic product of $354 billion, which places it in the top-40 largest economies. The Philippines’ economy is mostly based on electronic products’ manufacturing, petroleum and its products, and agricultural goods. The Philippines’ economy has a trend of becoming more focused on high-tech and IT, despite having around 30% of its labor force employed in the agricultural sector.
The Philippines is a developing country with weak payments infrastructure, underdeveloped credit card usage and more than 70% unbanked population. It is also important to mention that it is a very has a very young population (a median age is around 24 years). More than 10% of Filipinos are working overseas making remittances one of the biggest contributors to it GDP. It’s hard to for the Philippines’ citizens working outside of the country to manage establish regular payments to their family due to the high fees of transaction (between 6 and 10%).
However, the country already has an established legal framework for the cryptocurrency industry. The Philippines control over Bitcoin exchanges is performed by the Central Bank of the Philippines. It is also a place with the fastest growing smartphone penetration in ASEAN countries and more than 50 million users of the internet. The Philippines is a country with a significant potential to become one of the major IT contributors and an important part of the cryptocurrency industry.
The Noah coin project was developed specifically to provide the Philippines with a reliable, fast and secure way to process cross-border payments, establish market relationships and provide easy access to digital funds.
The main Noah Coin project’s products are the Ark Wallet and ARK Remit, which are both under development at the time of writing this article
The Ark Wallet application is a cryptocurrency service for digital funds. It is available for iOS, android and Web platforms. The application will provide both cryptocurrency and fiat transfers, will be easy to use and provide users with an access to the Noah ecosystem. The wallet is currently available on App Store and Google Play.
Ark Remit is a platform designed to provide cheap and fast cross-country payments. The platform will be web-based application with around 2-3% fee per transaction.
Noah Coin is a ERC-20 token. It will be used for the payments within the platform. The total supply of the coin is 216 billion tokens. It was initially sold exclusively for the Japanese market. The distribution of the Noah Coins during its ICO went in the following way:
- Around 13 million tokens were sold during the private sale.
- 14,7 million tokens were sold during the public sale.
- Around 30 million tokens were obtained by shareholders and advisory board
- 158 million are held by the Foundation as a reserve.
Noah Coin (NOAH) price and market performance online via COIN360:
The Noah Coin token is not minable.
The token can be traded on the following exchanges:
See Also on BitcoinWiki
- Noah Coin official website
- Noah Coin Twitter
- Noah Coin GitHub
- Noah Coin on Medium
- Noah Coin on Reddit