Kora Network
The World Bank and the United Nations estimate there are about two billion “unbanked” people in the world today, or people without bank accounts. We prefer to use the term “underserved”, as just having a bank account doesn’t guarantee access to financial services. By our estimation, the number of financially underserved people could exceed four billion around the world.
The exclusion of billions of people from growing and accumulating their capital has lead to social, political and economic instability, while leaving huge chunks of the world’s potential for value creation missing.
Informal Networks and Existing Solutions
Long before international financial institutions, communities have been providing their own financial services. For example, Esusu is an ancient financial practice in the Yoruba tribe of Nigeria where people contribute/borrow from close ties. Networks such as hawalas are used to transfer money between people or to buy commodities such as gold as stores of wealth.
These ad hoc networks, although cheaper and more accessible in underserved regions, are fragile and have difficulty growing as they operate on personal reputation.
On the other hand, banks require guaranteed assets, liquidity, and formal identity to determine creditworthiness. Most banks also require account minimums and fees to ensure profitability. In places like Africa and South Asia, this means banking is available only for the wealthy, and only in metropolitan areas. Because banks don’t see profitability in the rural areas, people who live there must travel hours to transfer money.
As seen in East Africa, Mobile Money solutions have done amazing work in reaching people where banks have failed, but most operate on centralized databases prone to hacks. The centralization creates a barrier to interoperability, as each Mobile Money Operator must integrate across banks and merchants, meaning they can’t expand outside their core geographic region or country.
Many other Blockchain projects are amazing theoretically. But on the ground barriers, like lack of electricity, Internet access, accessible roads from rural to urban areas, and a fear of new technology, keep them from wide adoption.
With Kora, we aim to address all these issues
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 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
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 $5,000.
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.
KNT Supply
Team
For More Information Visit :
Website :https://kora.network/
Twitter :https://twitter.com/Kora_Network
Facebook :https://web.facebook.com/thekoranetwork/?_rdc=1&_rdr
Telegram :https://t.me/kora_network
Bountry :https://bountyhive.io/join/Kora%20Network
User Name - cryptoshaa
Referral Link - bountyhive.io/r/cryptoshaa
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