Let's get closer to unbanked people through KORA Network

             

In this modern era, technology has been growing so fast including our economic system. Every person now can send their money less than an hour, doing the transaction through the finger. Nowadays people can watch their asset in front of a big monitor, make a decision about that. Technology will make their influence big and bigger in our economic system, make transaction faster and find new innovation.

Unfortunately in another side in our earth, there are many people untouched by technology and modern payment system. Some of them still having trouble when they try to connect with the world.  That people are hardly in doing the modern transaction, require some days and much money to complete that. The problem above happens because their area didn’t receive fast internet connection or lack of internet connection, besides that distance their home to the bank so far away and they need extra energy to do that.

KORA Network asks a solution for that problem through their Token Called “Kora Network Token”. Kora Network Token or we can call KNT is a blockchain based cryptocurrency. The Kora Network is built on Ethermint, which implements the Ethereum Virtual Machine with Tendermint consensus. KORA Network also fulfilling each of the vital network requirements like Stability, Decentralized, Programmability, Resilience.

                   

KORA Network has the vision to make inclusive payment system. KORA provides an infrastructure that addresses all of an emerging market needs. KORA Network support every people without looking at their social status, with KORA low cost you can make transaction easily. KORA do communities Engagement too and empower the community. One thing that makes KORA so picturesque, you can do your transaction with KORA without an internet connection, just use USSD or SMS for transaction activities. When other Token only do their transaction above internet connection, KORA can do it without an internet connection, that's why KORA can solve unbanked people.

Read this illustration below about how KORA user can perform Transfer and Payment

A User in London wants to send money back to their mom in a village in Malaysia, they have to go to a Western Union in London, which takes 8%+ fees. Then their mom has to go or send someone to travel 2-3 hours to the nearest place to pick up that cash.
At Kora, the User will simply text/USSD Kora to send that same cash from their mobile account. That cash can be deposited via bank transfer, crypto transfer, or converted at any local Kora agent, where the broker converts Fiat currency from and to electronic cash. Their mom walks down to the local Kora agent at the convenience store and picks up the cash. The User pays the network fee and pays the broker a small percentage to compensate them.

KORA Network put farmers as a key to development.Kora does their Kickstarter most in Country at Africa because of some place in Africa still unbanked until now and KORA Network wants their product can solve Africans problems. KORA had their beta through 300 Farmers in Abuja for 3 months starting from March 2018. KORA Networks also had a partnership with farming aggregator in Nigeria. At the begging KORA will solve three major problems for farmers:

a. Payments from the aggregator to the farmers.
b. Money transfers between farmers and suppliers.
c. Finally, farmers will be able to pool their capital into a CVN, the first of its kind.

If you want to know more about KORA Network you can visit their website https://kora.network and you can join KORA Network bounty in Bountyhive https://bountyhive.io/r/profabi  KORA Network will launch their public sale on 23 April 2018, don’t miss that guy.