Service Infrastructure for Financial Solution

wiepers (25)in #cryptocurrency • 6 years ago

Kora Network

Kora is a popular musical instrument in the Western/Eastern region of Africa frequently played in songs of celebration, or to pass a message of hope.

Kora is also a project of hope for billions of people who are underserved by the current financial system.

The Kora Network is expected to provide a lowcost, financial services platform for all.

Services Infrastructure Kora

Identity
Users can prove who they are and the validity of their activities.
Secure Storage
Users can protect their funds from being stolen or devalued.
Money Transfer
Users can transfer money to each other quickly and securely.
Marketplaces
Users can access venues to exchange money for goods, services, and capital.

Kora Ecosystem

Kora’s key differentiator is its ecosystem.

Our blockchain stores identity and transactions, runs software modules, and connects to other blockchains while preserving user privacy. We use Tendermint DPoS as a consensus algorithm, allowing for scalability while maintaining decentralization. The blockchain is secured by the Kora Network Token (KNT).

eFiat are digital versions of national currencies that users understand and trust. They are 100% backed by cash reserves, and redeemable on a 1:1 basis.

CVNs empower users to pool capital for lending or investment, social assistance, financial education and other services.

Kora Network Token (KNT)

KNTThe native Kora Network token will be referred to as “Kora Network Token” or “KNT” and will be used as the staking unit for selecting block producers, as well as a single medium to pay for costs incurred by the Kora Network. Holding KNT equates to having a partial role in the Kora Network.

When users transact on the Kora Network, they will pay a fee denominated in KNT and set by the validating Block Producer. The Block Producer shares this fee with the holders who voted for them.

High transaction fees, which only benefit the block producers and stakers who voted for them, will prevent users from transacting on the Kora Network. The less transactions that occur on the blockchain, the less rewards all block producers and stakers will receive. Thus, KNT holders are incentivized to vote in block producers who keep transaction fees low.

Token Sale Details

The launch of the Kora Network, and the token creation and emission process, will be organized around the Kora Network public blockchain. The goal of our token sale (the Token Sale) is to decentralize ownership of KNT to ensure the crypto-economic stability of our network, and to exchange KNT for capital to execute on our vision of unleashing the world's potential for wealth creation and becoming a leader in financial services [for the unbanked].

• Contributors supporting the development of the Kora Network can do so by sending Bitcoin or Ether to the designated address.

• The KNT received by a contributor is fixed at the USD price at which they bought it. The hardcap for the Token Sale is $24 million.

• Further details about the Token Sale will be released online. Sign up on our website to stay up to date, and to complete the contribution process.

• The Token Sale will be split into two phases: Pre-Sale and Public Sale.

• The minimum investment amount for the Pre-Sale is $5000.

• There is no minimum investment amount for the Public Sale, and the maximum is $1 million per unique identity.

• Excess contributions will be refunded.

• Kora Technologies Limited controls the contract, and the multi-sig address to which funds will be sent.

• KNT will be distributed to Contributors as an ERC20 token after the token sale is completed. KNT-ERC20 tokens can be redeemed for KNT on the Kora Network when the public blockchain is launched in Q3 2018.

• All unsold tokens will be burnt.

Team