Kora brings hope to everyone in the flow of their financial system

Kora is a project that has hope for billions of people served by the flow of the financial system. Despite advances in Inclusion financing, an estimated 2 billion adults worldwide do not have a basic account. Barriers to opening this account include some distance from the financial service provider and the lack of necessary documentation documents, and a lack of confidence in the financial service provider. Kora believes that existing platforms have failed to address the lack of user access to electricity, the internet or capital to buy smartphones and a lack of understanding of technology and finance.

Five major obstacles in access services :

1. High Cost to Serve
   building Bank branch offices in rural areas or otherwise not too expensive because of the high cost and expensive because considering the cost of property, staff and IT infrastructure costs are high. for the construction of ATM machines and money transfers requires a physical Journey and it takes a long time in the process and also requires a high cost

2. Misconception that the Underserved have Little Value
   A common perception is that the subscribed customer will transact in “small” amounts. In addition, a 2016 McKinsey report estimates that widespread application of financial services through digital finance can result in an increase of GDP of $ 3.2 trillion from all economies by 2025.

3. Lack of Identification Documents
   According to Information from the World Bank, 1.5 billion people worldwide lack a valid form of identification. Official or valid IDs for opening bank accounts are often difficult to obtain in developing countries

4. Lack of Trust and Technological Understanding
   Many people think making a bank account is very difficult because some people think banks are not secure in the process of storing capital or capital expenditure. There is still a lack of confidence in financial technology, including ATMs that often get interrupted or offline.

5. Lack of Financial Literacy
   We believe that as more people know financially limited, people may know the risks in making their financial decisions and include taking interest-rate loans that they may not be able to pay for, engaging in pyramid schemes, or paying unreasonably high fees for remittances or foreign exchange mark up.

Participants

1. All users must abide by the regulatory framework in their country of residence to access the Kora Network. and who can join the Kora Network system.
2. The Supplier shall provide the user with access to financial services on the Kora Network and shall be responsible for compliance with the rules. They are expected to become banks or other financial service providers such as mobile transfer operators or mobile money operators. They will use the Kora Network because they receive a turn-key platform, access to new markets, and white label customer interface with KYC tools.
3. Agent will be a cash point that converts between eFiat and physical money commission. They will become small businesses that collect cash, such as local department stores and gas stations.
4. Merchants will become businesses that accept eFiat as a payment method.

Contributors who support the development of Kora Network can do so by sending Bitcoin or Ether to the designated address.

• KNTs received by contributors are set at the USD price at which they are purchased. Hardcap for Token Sale is $ 24 million.
• More details about Token Sale will be released online. Sign up on our website to stay up to date, and to complete the contribution process.
• Sales Token will be divided into two stages: Pre-Sale and Public Sale
• The minimum investment amount for Pre-Sale is $ 5000
• There is no minimum investment amount for General Sale, and the maximum is $ 1 million per unique identity
• Excess contributions will be refunded

For More information about Kora :
Website: https://kora.network/
Joint Article: https://bountyhive.io/join/Kora%20Network
BountyHive Username: jimmydvd

Published By : Jimmydvd