Today we will try to consider another interesting project Kora Network. This project was founded by Dixon Nsofor. He was originally from Nigeria and at the time received higher education in the field of computer science and international business. His career, he started in China by releasing a new mobile phone model Lixon, orienting this budget model to the Chinese and African market.
The Kora Network system is designed to become an accessible ecosystem with its financial services for all segments of the population. And thanks to the use of blockchain technology, this system will eliminate all the inherent shortcomings in the field of Finance.
The main objective of Kora is to create a decentralized infrastructure that provides all the necessary tools for people around the world.
Analysts of the Kora Network project are confident that this system will be able to easily displace existing funding methods in third world countries. Thus, the project aims to provide special attention and raise the level of trust of local residents to financial literacy. To reduce the time and cost of all financial transactions, the Kora Network platform will provide services via SMS/USSD mobile network or via Internet. This will allow all interested participants to directly provide their capital to people in need.
The essence of the project is to reduce inequalities between rich and poor. Not many people know, but there are a lot of countries where people live as outcasts. Where every year they become poorer and poorer, and people in whose hands are concentrated huge amounts of money, without having the proper interest, do not invest their capital in underdeveloped countries.
Therefore, the main objective of the project Network Kora aims to reduce the inequality between poor and rich segments of the population.
Thus, the whole ecosystem should be open, using different payment systems that allow the conversion of money between all participants of the system.
This method will allow the community to get additional opportunities by using all financial services, creating farmers ' cooperatives, various groups for the sale or purchase of all necessary goods.
Thanks to the simple access to the Kora platform, many will be able to use a non-expensive phone and an easy scheme of actions that will allow you to make any transactions without outside interference, excluding any intermediaries.
That significantly distinguishes the Kora Network project among other competitors.
Using the internal cryptocurrency Kora Network, will be able to significantly reduce all costs arising in traditional financial services. KNT tokens are designed to automate and remove most of the various costs. This, in turn, will allow absolutely all users to monitor the purity of the transaction history, as well as some regulatory authorities will be able to protect all participants of the network from fraud. But that's not all. All KNT tokens will be able to provide fast turnover of funds, which will attract great attention of new participants to this system.
At this point in time, all purses MVP running in test mode on the platform Rinkeby using SMS interface and Android app. Through uPort it is possible to check the entire chain of Ethereum transactions.
To visually assess the advantages of this system over other systems, consider the usual example of our daily life. Suppose you live and work in England, and you have relatives living in Nigeria. Once a month you give them a little financial help, sending each time the money through Western Union or MoneyGram. At the same time, for the service provided to you, you pay a Commission, which can range from 5% to 10%. But that's not all, the time spent on translation can be more than a day. That is sometimes very inconvenient when the money is needed urgently.
Using the same opportunities Kora Network you can easily make a money transfer, without Commission and much faster, while at the same time anywhere in the world.
I think this project is very promising, its whole concept is aimed at bringing benefits to people, even those who live in underdeveloped countries. I think it's very humane! We are all human beings, and we should all be able to live well.
At the moment, the Kora Network project is already at the ICO stage. Therefore, I recommend that you take a closer look at it and study all the necessary information on these links:
Website: https://kora.network/
ANN: https://bitcointalk.org/index.php?topic=2876521
Bounty: https://bountyhive.io/join/Kora%20Network
Whitepapper: https://kora.network/downloads/Kora_Vision_Paper_International.pdf
Blog: https://medium.com/kora-network
My bountyhive: https://bountyhive.io/r/sergeyklimenok