Currently, there are more than 2 billion unbanked people. Being unbanked means those people are away from financial services either from banks or other organizations. Because of the inability to access financial services, these people find difficulty in sending, receiving, and lending money from banks. This leads to low life standard that directly causes poor education, health, and financial life. This situation has triggered many start-up companies to help them solve the problems. However, most of the start-ups have some downsides so they can reach their goal. One of the downsides is, for example, it is required users to use the internet to access the services. The fact is many unbanked people live in a remote area where there is no internet connection.
Because of the problems above, Kora is inspired to make products and services that allow users to get financial services without the necessity to have smartphone and internet connection. This project is quite interesting as this is the first project which tries to serve common people who even do not have a smartphone, internet access, and even electricity.
In helping its users, especially those who are under-banked, Kora is preparing some solutions regarding the problems that currently exist. The first problem is about the high cost of accessing financial services. To overcome the solution, Kora is offering low cost and easy universal access that is open to anyone in the world. In addition to the low cost and universal access, Kora network also incorporates local financial service providers because common people are already familiar with the system.
You might be wondering how people who have no smartphone can access financial system. Kora has been considering this situation. That is why the Kora mobile application can work even in the cheapest feature phone. Users do not need any internet connection as what they need is USSD to input a short code number.
Within Kora ecosystem, there are at least four types of participants involved. They are users, providers, merchants, and agents. Basically, the ecosystem works like this: Users want to access Kora Network. Providers give an access for users to use financial system in Kora network. The next participant is agents who have a responsibility to deal with cash and exchange e-fiat and physical cash. What about the merchants? What is their contribution? Just like other aforementioned participants, merchants also play important role in the network. Moreover, she is the one who should accept fiat.
In its roadmap written in the whitepaper, the pre-sale and public sale of ICO will start together on March 18th, 2018. However, it turned out the sale has already started a month sooner that’s on February 18th. Even on its official website, the information about the exact dates of ICO sales is not available. So, it is recommended to follow Kora social media to get latest updates on the ICO sale. In addition, by getting updated with the news, you can also get a hint of potential revenue. At the moment the public crowdsale is still ongoing. You have 2 weeks before the sale ends on Mar 17th, 2018. Here are the details if the ICO.
The name of Kora Network Token is KNT. 1 KNT costs 0.10 USD. The target for the KNT sale is 24 million. There is bounty available for this sale. Buyers can use ETH tokens to purchase KNTs. Unfortunately, Kora does not accept other crypto and fiat currencies. The sale is not conducted in the US, China, and Korea because it is restricted there.
If you are interested in the project and want to make an investment by joining the sale, there are two ways that you can try. First of all, you have to go to its official website on kora.network/tokensale.html. Scroll down to the bottom of the page. You have two options whether you want to buy tokens by joining telegram of bounty. After you click on them, you have to register to make an account. For more detailed information, you can submit your email address and latest updates related to the token sale will be delivered to your email.
|Price||1 KNT = 0.10 USD|
- Dickson Nsofor - CEO & Co-Founder
- Maomao Hu - COO & Co-Founder
- Eugene Fine - CTO
- Zahen Khan - Head of Marketing
- Oleh Ostroverkh - Project Manager
- Lauren Harrington - Blockchain Researcher
- Bryan Uyanwune - Business Development Lead
- Roman Katsala - Lead Developer
- Victoria Mygalko - Product Lead
- Vladimir Mitso - Blockchain Developer
- Faisal Khan - Leading Banking & Payments Consultant
- John Edge - Chairman, ID2020
- Nako Mbelle - CEO, Fintech Recruiters
- AA Atayero - Wireless Network Researcher, Covenant University
Kora 1.0 Development Begins - USSD, SMS & Mobile App.
Kora 1.0 Launches on Ethereum Testnet.
User Testing Launched in West Africa.
Core Network Development.
Pre - Sale.
Kora 1.0 Launches on Permissioned Testnet.
First Beta Launches.
First Beta meets all milestones.
Launch Pilot in Africa.
Asia & Global Expansion.
Kora 2.0 Launches.