Poverty issues that can be addressed:
Poverty doesn’t just happen. It is created by the circumstances. A lot of times the reason behind poverty story is simpler than you thought. Hassles in smooth flow of funds create poverty. Loans with unfavorable conditions create poverty. People who have to send money abroad unwillingly embrace the Hawala system. A lot of informal organizations profit from the lack of setup. These organizations accumulate unfair fees while the sender of the cash loses serious value of his/money. Do you know there are around 2.5 billion unbanked or under banked individuals in the globe. That is a statistic from United Nations.
Kora Network:
Here is where Kora comes in. It offers the infrastructure for inclusive financial services. It features universal access. Anyone can use Kora. You don’t require a smart phone or even internet connected. Users don’t even require understanding English. Kora takes the global tag quite seriously. All you need is a mobile phone, any phone really. Buy developing Kora network over blockchain the biggest costs you incur are taken out of the equation. Kora effectively engages with existing communities. It empowers the local communities by providing them with tools that can help them to adopt to the new environment and technological changes.
How it works?
Kora presents financial services on the blockchain. It offers such services via smartphone apps, SMS and USSD interfaces. It also supports in person access. There is absolutely no requirement for fancy smart gadgets at all. Values are denoted in e-Fiat currencies. This is to create a sense of familiarity and trust. E-Fiat values are directly pegged to national currencies. The tools collaborate to create Community Value Networks (CVN). They are the centers for lending, money transfers and identity. Kora doesn’t misses out on tiniest of details.
Kora is launching a beta on farmers. Farmers can get funds from abroad instantly. It can be used to purchase the necessities of the farms. The farmers get text updates about weather and best practices in farming. The farmer can hold his capital with peers in CVN to help one another. The cash flow is further enhanced by doing so. With Uport, the farmer can secure an identity and build a verified financial reputation. Access to other value add services on Kora is made available. Kora is all set to alleviate at least a million people from poverty.
ICO and token details:
The total token supply is over 339 million KNT. Nearly half of it is reserved for token sale. 20% goes towards growth and 20% goes towards R&D. 15% of the tokens goes to the team. 50 of the proceeds go towards research and development. 30% of proceeds will be used on network growth. KNT is mainly a utility token. For utility purposes, it will be used as work token, usage token and hybrid token. KNT tokens are compliant to ERC20 standard of blockchain. The token sale follows distribution of tokens to registered wallets. Unsold tokens are taken off the chain.
Important Links:
Please find the important links related to the project below and stay updated:
Website: https://kora.network/
Whitepaper: https://kora.network/whitepaper.html
Twitter: https://twitter.com/Kora_Network
Facebook: https://www.facebook.com/thekoranetwork
Telegram: https://t.me/kora_network
Bounty Link: https://bountyhive.io/join/Kora%20Network
Kind Regards!