Kora Network: Infrastructure for Inclusive Financial Systems

redfin31 (25)in #blokchain • 7 years ago (edited)

- So What is Kora?

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 to its listeners.We are building the infrastructure needed for inclusive, community-owned financial services ecosystems powered through blockchain, all based on:

Universal access: Anyone can use Kora. You don’t need a smartphone or even Internet access. You don’t need a sophisticated understanding of technology or finance. All you need is SMS/USSD access.
Engaging with existing communities: Traditional service providers have always existed within communities. We propose a new concept: “Community Value Networks,” or CVNs. The Kora Network empowers long-existing and trusted networks in the communities, providing them the opportunity to create and grow their own CVNs, keeping established relationships in place.
Ecosystem approach: Providing a standalone service in the financial services space can inhibit the quality of service to be provided to the underserved. From its launch, Kora would build the entire ecosystem needed to cater to the various users and communities on the Kora Network.
Low cost: Kora drives its costs down by automating or removing much of the overhead that traditional financial services providers face through the use of the blockchain.

Our MVP is currently running on the Rinkeby testnet, with an Android app and SMS interface. All transactions are recorded on the Ethereum blockchain and connected to user identities through uPort and are independently verifiable. This both allows users to build a consistent credit history and allows regulators to verify compliance and help guard against financial crimes. 3rd party services like GRID+ or SALT Lending can also be easily integrated onto the Kora Network to extend the range of services provided.

- Vision

Kora aims to end extreme poverty especially in the most remote regions around the world. We will achieve this by leveraging the existing communities that already support services people trust.We see in Kora the hope of financial freedom, empowerment, and wealth creation to the billions in regions of the world previously considered unprofitable.

- Kora Network Token

KNT is central in securing the network, and holding KNT mean having a partial role in the Kora Network. Holders use it to vote on who produces blocks, and providers require it to pay for network fees.

The goal of our token sale is to decentralize ownership of KNT to ensure the cryptoeconomic stability of our network, and to exchange KNT for capital to execute on our vision of unleashing the world's potential for wealth creation.

The Kora Network will support national currencies as electronic, cryptographically secure tokens (eFiat). As a digital currency, eFiat can be sent over distances and in large amounts.

By introducing eFiat, we leverage the trust people have in fiat currencies, increasing ease of use, and therefore, adoption.

Kora will also have a native crypto-currency known as the Kora Network Token (KNT). KNT will be used to secure and manage the cost of accessing the Kora Network.

Token Sale Details

Pre-Sale : $3 Million Sold Out

Public Sale : $20 Million starts at 20% Discount

Public Sale Dates : 2nd April 12 pm UTC - 30th April 12 pm UTC

Token Supply : 755,007,338

Tokens For Sale : 339,753,302

1 KNT = $0.1

Payment Method : BTC & ETH

Tracking Sale Progress

Our website will have a countdown indicating how much time is left until the end of the token sale. Once the sale ends, you will no longer be able to purchase KNT tokens from our portal. Follow us across all our communities to ensure you are up to date with the latest news.

Sale End

The pre-sale will close when the cap of $3M is filled or when the sale time ends, whichever comes first. You will be able to transfer tokens from the portal to ERC-20 compatible wallets by the end of Q2 2018.

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