Kora- An infrastructure for inclusive, community-owned financial systems

This is a network which help lot of people who are affected by the current financial system and are troubled by expensive and difficult access to financial services. These people are avoiding from better solutions due to high costs, lack of proper identity, and difficulty in access to banking locations and poor understanding of the banking system. The network is formed with four layers of infrastructure. It provides a low cost, worldwide access monetary services platform accessed by SMS or with internet access through mobile app accepted by blockchain technology.

The Kora Network
The first model of this network is designed by Ian Grigg in his paper which is named financial cryptography in 7 layers. The use of blockchain technology allows restructure these layers into four as below:

Protocol: This fundamental layer defines the basic rules which everyone on the network must abide by. Desired qualities like scalability, immutability are engineered for higher layers to use.
Data: The layer where the immutable blockchain database exist in, as defined by the protocol layer which contains identities, transactions, account balances, token contracts and anything else that users prefer to store on the blockchain.

Applications: This layer is where the data stored on the blockchain comes to life. Transaction processing, data feeds, blockchain monitoring and integrations with outside systems happen here. This is the transition layer between other pieces of software and the blockchain.

Access: This layer is in what way consumers access the Network, whether via a full node, smart- phone, mobile phone access via a Provider, or anything else. This layer is totally offchain.

Kora Ecosystem
Kora Network’s key dissimilarity is the ecosystem. The blockchain can store identities and trades, can run software modules, and also can join to other blockchains. The blockchain is protected by the Kora Network Token. eFiat are digital types of national currencies that consumers understand and faith.

Kora Network Token
Kora network token is vital in safeguarding the network and holding KNT means having a partial role in the Kora Network. Holders use it to vote on who produces blocks, and providers need it to pay for network fees. The target of the token sale is to decentralize ownership of KNT to ensure the crypto economic solidity of the network.

Use of Funds

Research & Development -50 %
Research, development and maintenance of the Kora network and any software set in the Network.

Growth of Network- 30%
Receiving handlers into the Network, maintaining a positive user involvement, compliance with numerous government regulations and other tasks needed to develop the Network.

Kora Accelerator- 10 %
This is mainly for seed funding of startups which build value added applications on the Network. Will be distributed directly to startups in exchange for equity.

Investment for Social Impact- 5 %
Used for funding of social impact projects that help build out the Kora Ecosystem.

Marketing of Legal & Token Sale- 5 %
To cover costs of creating the ideal legal structure for the Token Sale, for marketing the Token Sale, and the final Token Sale audit.

For More Information Visit :

Website : https://skychain.global/

Telegram : https://t.me/kora_network

Facebook: https://web.facebook.com/thekoranetwork/

Twitter: https://twitter.com/Kora_Network

Bountry: https://bountyhive.io/browse/Kora%20Network

Author details

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