KORA NETWORK

Kora Network is a financial service infrastructure with the aim to connect people, communities and money in one ecosystem. As such, it offers financial services to users through SMS, USSD interfaces, smartphones, and in person access.

National currencies are picked in form of tokens that are used to build networks which form blocks of transactions to users all over the world. Token details are soon to be released on their site and interested parties can sign up for further information and updates. Additionally, Kora intends to work within the boundaries of present financial system to comply with governmental rules and procedures.

Problem
How development works in a society is a complex subject but a basic theory about how inequality hinders the development is practically seen all over the world. Inequality breeds many social problems in a country. Limited resources distributed unequally is a cause for concern for humankind since centuries. There has been a continuous effort to bridge the gap but ironically it has been a dream till now. Multiple International organisations have gathered rich data to examine and research about the causes and effect of it on the countries especially developing and poor nations, who are at the bottom of the scale. Financial wellbeing is connected to every aspect of life and securing our financial independence is one of the main goals of our life.

People in every stratum of society strive hard to bring themselves to the realities of their financial dream. Sadly, most of the population has failed to do so due to many reasons. The banks and the financial institutions play a big part in this failure as they are the intermediary between people and their financial freedom. Lack of identification is considered to be one of the prime reasons besides the high cost required to provide financial services to the people living in remote places of the country.

They are understood to be of little value by the banks and other service providers, but as many studies and research seem to support that given the financial services required they have performed better than others. The lack of financial literacy and technological understanding is another key hindrance to the global financial security for the majority of the population. Not getting an opportunity to prove your worth is one of the saddest moment of life, and the people have been in the same situations for decades with a little improvement in the sector.

Solution Offered
KORA saw an opportunity in this domain and created a step-wise, multi-purpose, reliable and secure program to curb out the difficulties faced by the people and the access to the financial services. They are working to build a universal financial access for everyone with universal identification services.

Why KORA?
The Kora Network is built on four layers of infrastructure to provide a low cost, universal access, financial services platform accessible via SMS/USSD or via a mobile app, enabled by blockchain technology.

1 — Identity

Users can prove they are who they are and the validity of their activity.

2 — Secure Storage

Users can protect their funds from being stolen or devalued.

3 — Money Transfer

Users can transfer money to each other fastly and safely.

4 — Market Places

Users can easily access to exchange money for goods, services, and capital.

Kora Network Token (KNT)

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. Holding KNT equates to having a partial role in the Kora Network.

When users transact on the Kora Network, they will pay a fee denominated in KNT and set by the validating Block Producer. The Block Producer shares this fee with the holders who voted for them. High transaction fees, which only benefit the block producers and stakers who voted for them, will prevent users from transacting on the Kora Network. The less transactions that occur on the blockchain, the less rewards all block producers and stakers will receive. Thus, KNT holders are incentivized to vote in block producers who keep transaction fees low.

Token Information
Token Symbol: KNT

Platform: Ethereum

Type: ERC-20

Price: ICO 1 KNT = 0.10 USD

Token for sale Quantity: 339.753.302

Hard cap: 24,000,000

Accepted currency: ETH

Minimum Investment Amount: 5000 USD

Token Supply
Token Sale 45 % (339,753,302)

Reserved for growth 20 % (151,001,468)

Reserved for R&D 20 % (151,001,468)

Team 15 % (113,251,101) Use of Funds