MARKACCY: FROM GENESIS
Conventional centralised systems whilst existing to address specific problems, come with socioeconomic bottlenecks which hampers the quality of life. Ironically, this creates concerns for the centralised authorities responsible for manning these systems. For example, in Nigeria, health systems exist to address patient ailments, but the doctor to patient ratio in Nigeria was 40000 to 196 million in 2019, which works to 1 doctor to 4900 people, a ratio determined before Nigeria exceeded a population of 200 million people. This means that the poor masses in remote areas are potentially cut off from access to health care facilities. WHO says as well that, 44% of its member states, mostly from less developed countries including countries in Africa and South East Asia, have a doctor-patient of ratio of less than 1 doctor to 1000 people
The music industry is also beset with its own challenges. Issues of copyright and piracy, achieving subscriptions in India, China, South East Asia and Africa, management of metadata and transparent distribution of content to benefit artistes are challenges to the global centralised music system. In the Power and Energy sectors, a decentralised access point that enables end-users manage purchases and sale of excess power from and to the grid and other customers.
These are the sort of problems Markaccy was created to solve, as a multidimensional solution to these problems which carry us towards our long term goal of achieving a digital economy. Markaccy is one of several Blockchain companies created off the Ethereum Blockchain, for the purpose of increased speed of block time for transactions and for users convenience. It is a DeFi(Decentralised Finance) service-based project that facilitates high speed services and transactions on its freelance peer-to-peer platform and initiates payment using the MKCY ERC-20 tokens. Markaccy was also created off the Ethereum blockchain to adopt Smart Contracts which drive transactions on its platform and Marketplace.
The decision to create Markaccy off the Ethereum Blockchain has some implications:
1) Smart Contracts offer some measure of security for our end-users because they encourage transparency and verifiability of transactions on our network without the interference of centralised institutions. It means that end-users no longer need financial, legal and agency intermediaries to determine the direction of transactions or verify these transactions. In our chosen operating terrains where conventional transactions lack transparency and verifiability, our Markaccy Marketplace and our blockchain network will disrupt existing conventional transaction platforms.
2) We will leverage on the scalability of our decentralised applications which is in its building stage to create more components on our blockchain. These inventions will support the value of our ERC-20 token on crypto exchanges and will make them attractive to investors and end-users to trade the tokens short term or invest long term.
As a means of differentiation, but more so as a critical part of our long term goals, we are working towards the creation of a digital economy, where we can incorporate all critical components of our blockchain to function into a working, transactional Economy. Our ability to solve problems in the health sector, for example, through health DApps that bring doctors and doctors in the diaspora in peer-to-peer consultation with patients, donors and technical institutes will relieve the struggle of centralised health systems. This also applies to music, energy and finance, where we intend to demonstrate the power of Blockchain in relieving centralised systems. To this end, we have begun building the Markaccy Mainnet, and we have created the Ferris Wheel project to support this goal. Our digital music, digital energy, smart consulting and digital health systems are all indispensable components that constitute Project Ferris Wheel. This is aimed at ensuring fairness, equality and honesty in our transactions whilst creating immense value for the average individual who aims to become our end-user through interaction with our blockchain.
Investing in Markaccy, thus, isn’t only to grow financial value in the short term. Investing in Markaccy is keeping the faith with a Blockchain Technology company determined to bring fairness and justice whilst creating tangible value for our end-users.