Kora,The Infrastructure for Inclusive Financial Systems.

in ico •  7 years ago 

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 under served by the current financial system.

Kora Team believe existing platforms fail to address users’ lack of access to electricity, the Internet,or capital to afford a smartphone as well as lack of under standing around technology and finance and expected to provide a low-cost, financial services platform for all.

The Kora Team believe that with limited financial literacy, people may be at risk of making poor financial decisions including taking loans with interest rates they may not be able to pay, getting involved in pyramid schemes, or paying unreasonably high charges on remittances or foreign exchange mark-ups.By learning from the past, the Team can build a better future and find the solution for wide-scale,sustainable adoption of a financial services platform.

Kora build wealth by creating self-sustaining, community-owned ecosystems. “Self-sustaining” means the wealth in the community as a whole grows, and “community-owned” means participants in the existing community take on most of the key roles with in the ecosystem and to empower instead of displacing existing communities that already providing adhoc financial services will join the Kora Network as Community Value Networks (CVNs).

The Kora Network aims to simplify operations so that new Providers can provide services without the cost of establishing and running a front-to-back financial institution. Kora will make launching a financial services business as inexpensive and easy as launching a new instance on AWS -- at low cost and with access to all functionality on the Kora Network. Core software will be run on the decentralized stack, and anyone can customize this software. Members will be able to link and exchange financial services to other users on the Kora Network with low costs and near-instantaneous transaction speeds and expact the balance of power to shift, and financial service providers would have to compete for customers,driving down prices for users.

The Kora Network will be built on Ethermint, We chose Ethermint because it supports the Ethereum development community, which is the largest in the blockchain space, while also supporting high volumes of transactions and providing flexibility for more extensive user privacy.By publishing their hardware and network specifications,displaying their digital identity and making the Kora Network compliant with all applicable laws and regulations. Full details of Kora project read here at their Whitepaper https://kora.network/#whitepaper .


The 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.The token creation and emission process will be organized around the Kora Network public blockchain.The goal of our token sale is to decentralize owner ship of KNT to ensure the crypto-economic stability of the 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.

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.

  • 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 hard-cap for the Token Sale is $24 million.
  • Further details about the Token Sale will be released online. Sign up on our website to stay upto 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.

  • 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

Funds raised during the Token Sale will be used solely for the research,development, and growth of the Kora Network. The Team expect to use the following structure when operating our project. The Use of Funds will be monitored by the Board of Advisors.

Research & Development.

  • 50% Research, development, and maintenance of the Kora Network and any software deployed in the Network. Will be distributed to various development groups and individuals.

Network Growth.

  • 30% Onboarding users onto the Network, maintaining a positive user experience, compliance with various government regulations and other tasks needed to grow the Network. Will be distributed directly to Providers.

    Kora Accelerator.

  • 10%Primarily for seed funding of startups that build value-add applications on the Kora Network. Will be distributed directly to startups in exchange for equity.

Social Impact Investment.

  • 5% Used for funding of social impact projects that help build out the Kora Ecosystem.

Legal & Token Sale Marketing

  • 5% To cover costs of forming the optimal legal structure for the Token Sale, for
    marketing the Token Sale, and the final Token Sale audit.



TEAM

  • ADVISERS

John Edge Chairman, ID 2020 Dinis Guarda CEO, LifeSci Faisal Khan Leading Banking & Payments Consultant Nako Mbelle CEO, Fintech Recruiters Steven Sprague CEO, Rivetz . For more details in Kora Whitepaper https://kora.network/index.html#whitepaper .

  • Kora’s RoadMap short-term vision is to bring robust financial services to everyone by 2021.


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7 years ago by

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      ·  7 years ago 

    Nice info...resteem this topic...

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        ·  7 years ago 

      thank you...visit the website for more update ...

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          ·  7 years ago 

        Hey @cheche39, great post! I enjoyed your content. Keep up the good work! It's always nice to see good content here on Steemit! Cheers :)

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            ·  7 years ago 

          Thank you and i am happy to see that some friends see me for what i am doing in the community,Best Regards to you...:)

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