The lack of transparency and attention for donation encouraged MameCoin to expand to Indonesia. Unlike the similar platform, MameCoin offers a solution for online donation using blockchain technology based cryptocurrency.
Sendy Ariani, MameCoin’s CEO explained that Indonesians haven’t been able to prove the raised donations are correctly received by those in needs. It’s possible to give donations to a trusted organization via bank transfer, the thing is: donation can’t be made in a small amount due to the minimum transfer amount of IDR 10 thousand.
“What if we want to donate IDR 500? We can just put it in the donation box at the traffic light, restaurant, or mini markets. However, back to problem number one, we can’t make sure the donations received by the right target,” Ariani told DailySocial.
Therefore, MameCoin offers an online donation platform using cryptocurrency. There’s a token released called MAME that has been listing in the abroad exchange market, such as CoinExchange, DexDelta, and TokenJar.
The platform is still in development and the donation can’t be collected yet. She revealed the platform is to be released soon. Later, the platform will use MAME coins for its transaction.
The similar condition to Japan
MemeCoin is originally coming from Japan and founded in June 2018. Indonesia becomes the second country to be penetrated, established two months later along with the local entity. Japan’s situation is kind of similar to Indonesia, often to experience natural disasters, such as the earthquake, rainstorm, and others which takes so many lives.
MameCoin Japan has partnered with two non-profit organization (NPO), Team Rescue and Rescue Assist. As illustrated, each NPO has acquired 500 thousand MAME coins.
“MameCoin Japan and Indonesia are similar, we are to provide the donation service globally. In Indonesia, we only wished to partner with Sekolah Relawan.”
MameCoin can donate starting from 1 Rupiah, send the donation to countries in 24hrs with affordable cost, and the customer is claimed to be able to choose the donation target easily.
MameCoin business model
She continued, later, when MameCoin donation platform has released, to start the donation, the company will filter every donation projects submitted to MameCoin. The first step is to enter the target donation to receive MameCoin as a donation. Partners should provide valid information, no frauds.
The company will double-check the information before submitting to the public. Moreover, customers can look for it in the donation lists, what kind of projects to support and why choosing it. The customers can transfer their MameCoin token to the project. The recipients can exchange MameCoin to Rupiah in the existing exchange market.
“In terms of business monetization, we take the operational cost for customers who want to withdraw MameCoin in platform into another wallet. The product demand using blockchain with the increasing MameCoin price will increase our assets.”
MameCoin will expand to other local exchange markets to be easier to reach, the closest one is Nusax.
“We’ll be listing MameCoin to the larger-scale local exchange markets to increase liquidity. In addition, it increases our activities in ASEAN besides Indonesia and Japan.”
Given the blockchain technology is still new for Indonesians, they will increase partnership with the non-profit organizations open for donation. Therefore, MameCoin chance to be known and trusted will also increase. Partners with local exchange markets to be actively acquiring investors in purchasing tokens.
“We’ll be regularly holding charity events independently or involving other parties,” she concluded.
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Original article is in Indonesian, translated by Kristin Siagian
