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The Philippines uses native English as an official language, so one out of eight people work outside the Philippines as migrant workers.



These people earn foreign currency overseas which represents about 10% of the GDP of the Philippines, a considerable amount of this money is transferred back home equating to about 25 billion USD (preliminary calculation by the Central Bank of the Philippines) every year.
(* This only includes foreign currency transferred through the bank.)



Also, the amount of sending is said to be increasing by about 1.5 billion USD every year.



However, only about 30% of people have bank accounts in the Philippines currently, so it can’t be said that the money transferring system is robust yet, although they can use remittance companies like ‘Western Union’ to transfer money, unfortunately they have to pay fees to the company of about 10 to 12%.



The foreign currency remittance to the Philippines via International money transfer every year is approximately about 30 billion USD, and among those transfers, fees of 3.5 billion USD is taken before sending and this fee is increasing every year.



For those reasons, in order for Filipinos to hold onto the sending fees that they have been paying out, an organization called ‘NOAH PROJECT’ was established.





The purpose of the ‘NOAH PROJECT’ is to spread ‘NOAH COIN’ which is built with a technology called ‘Blockchain’ that is said to be beyond recent Internet technology throughout the Philippines, so they can realize cost cuts in the money transferring and processing fees, reduce the number of days it takes to transfer as well as prevent fraudulent use of personal information by anonymous and dishonest use.




Table of Contents

What is NOAH COIN?

How to purchase NOAHCOIN and Price
Release schedule of NOAHCOIN
Annual interest simulation of NOAHCOIN
Comparison of NOAHCOIN and BITCOIN



Activity content of NOAHPROJECT

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