INTRODUCTION.
Traditional Banking which can also be called centralized is looking for different ways to minimize overhead costs and maximize profits. They charge high-interest rates when you borrow and give you meager interest rates when you save.
They charge outrageous fees for transfers, internet banking, ATM cards and even charge fees for saving. They charge for virtually everything. This is one of the main reasons Blockchain was created. For a faster, inexpensive and efficient all-around service.
Banks are now looking at and exploring the Blockchain Technology for the above advantages.
Because Bitcoin is the most popular among the hundreds of Cryptocurrencies, this was the go-to network when adopting the Blockchain Tech. But Bitcoin has its own deficits.
- Transaction times
- Scalability
- and the flexibility to build smart contracts in its system.
Even though these cryptocurrencies are now more popular than before, they are still unbankable. You can't also use them for most of your daily payments and shopping. especially in open space markets etc. You need to first convert to FIAT or a limited number of other tokens which defeats the whole purpose of it being a currency.
ordinary users on the street most times are unaware of the huge benefits of the blockchain and cryptocurrencies even till date. The solution to these is what KORONA coin is bringing to the crypto space.
SOLUTIONS THAT KORONA BRINGS.
Using a complete integrated service package, Korona coin aims to bridge the gap between Fiat and Crypto.
It will provide a platform which is transparent, easy to use and licensed. So easy in fact that even a layman can understand what it's all about.
Korona will also provide Wallet management, efficient payment technology and also Fiat exchange. users will also receive so many support services. You can check them out on the website here.
Korona Tokens will be accepted worldwide because of the above use and also because it will provide marketable goods and services.
Korona, for now, will focus more on the European Union. There are good reasons for this.
- The team is familiar with the region and its market.
- The regulations are favorable.
- The EU is rapidly growing.
- Korona is a Swiss foundation with well placed European roots, It is only realistic that they would want to be based in Europe.
- The EU is also active in developing crypto-based payment solutions which is what Korona stands for.
This does not in any way mean that their services wouldn't be available or extend to other territories.
KORONA SERVICES.
Korona has so many services they render and I'll outline a few here. Others can be found on the website and Whitepaper.
- Instant payments with smartphones in physical shops. POS terminals are almost mainstream nowadays but it isn't as fast and seamless as a transaction should be. Also, it raises transaction cost for its users.
But Korona smartphone payments will leverage on this. The transactions of Korona will be easy to use and also fast. Korona users will be able to effect instant transfers from customer to businesses using their smartphones.
- Korona Wallets are already created for most platforms and can be downloaded. The wallet can be used to store Korona tokens and also Ethereum. Also for sending and receiving at lightning speeds and minimal costs.
- Korona framework will include a digital payment platform. This can be integrated into any app from online stores. This will make transactions fast and costs limited. The platform will be simple and user-friendly and also API complaint.
- Connecting local SME businesses to E-commerce and Korona payments.
THE KORONA MARKET.
Most online stores have not started accepting E-currencies as a means of payment for goods and services. We want to buy these but the stress of first converting our cryptos to Fiat before buying most times leave us frustrated. This is where Korona market comes with an awesome idea.
The market has a wide range of products and services from third parties. We the customers can then buy our desired products and services and pay with Korona tokens. Korona then provides the stores' receivables in Fiat or tokens for those that are willing to accept it. All these are done without the involvement of third parties. The Korona Ecosystem will be equipped with the best available transfer technology.
"In order to receive crypto-payments, the merchants will simply place a screen (either on a smartphone or on a tablet) with a QR code next to their cashier, and the Korona users by using the QR code on the merchant’s screen will be able to easily effect payments for the selected goods. For the highest possible transparency, before confirming a payment, the Korona users will be provided with the actual exchange rate and the transaction details both in local fiat and in Korona tokens"
BENEFITS WHEN USING KORONA
- Reduced transaction costs.
- Additionally reduced prices.
- Free token rewards.
- Fraud protection.
KORONA SUPPORT SYSTEM
- Korona business wallets
- Korona commerce platform
- Korona merchant marketing support
- Business taxation information support
- Fiat payment services
- Korona’s virtual crypto bank services
- “Volatility tempering” mechanism
The necessary approvals and/or licenses will be obtained from the competent authorities if and when required for legal or regulatory reasons.
ICO DETAILS
Total number of tokens: 300.000.000
Bonuses for contributors during the ICO phase:
Tokens will be distributed using the below bonus system: The concept of the bonus system is formed in a way to give as much bonus as possible and not hurting the future business model and its operations. The ICO token distribution will have the following stages:
Funds raised during ICO will be used as follows:
USEFUL LINKS
BOUNTY HIVE USERNAME - FAITHCLIN
Nice review on korona coin
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