The Kora Network, which takes its name from a musical instrument in the western and eastern parts of Africa, is promising to reach the masses who have had difficulty accessing financial services and to remove the burden created by the expensiveness with the help of innovative solutions created by decentralization. Just like the feeling of your musical notes on people. Maybe that's why they chose the name of a musical instrument.
The despotic order created by the banking system offers a dystopia to the people in the pursuit of profits by sustaining a weakness in accessing essential services such as electricity and internet, high costs in transactions, and an unsecured economy. Solution oriented projects such as Kora are now seeking to offer self-financing system infrastructures millions that can't afford banking services.
With the advantages of the blockchain and decentralization, in place of the old unwieldy structure and networks of technology, Kora has come to build the trust and comprehension necessary for the mass adoption of cryptocurrencies with its users.
It is a known fact that the majority of low and middle-income people, in particular, have limited access to financial services. Access to the infrastructural system for the storage and transmission of a financial asset in a secure way is one of the most fundamental rights of market economies. One of the most important reasons for the difficulty in accessing services is costs. The most important is the projects that will take steps to change that with the platform that will build it. If Kora can establish a network of access to affordable products and services, it can lay the foundations for a self-sustaining community to pursue by pursuing large quantities. They have the potential to transform hope into reality.
Identification processes have been overcome by linking to certain standards in developed countries, but it is almost impossible not to be buried in paperwork and procedures even in the process of opening a simple bank account. In order to safely store and transmit personal financial values, Kora will show the difference in understanding that will support the forward breakthrough. The blockchain is essential to create the environment of confidence that traditional banking and modern financial technology require. Millions who don't have access to financial services will probably have the opportunity to finance themselves without being pushed out of the system.
Kora will build a blockchain with circulation in itself. A collective ecosystem that will sustain itself, the capital will accumulate and circulate within the community, and the means to build it. The encrypted value created by Kora will be electronically transferred via the blockchain. The conversion from cryptocurrencies to fiat currency will be provided by local Kora representatives without the need for intermediaries. Kora aims to conduct its system based on smart contracts. The Kora platform will be a platform where every user will have equal opportunities regardless of their financial situation, global borders will be removed, costs will be reduced to optimal levels, and financial access will be easier.
Kora's system will use the KNT tokens and eFiat that is made secure cryptographically. Kora will bring digital finance technology based on cryptocurrency to the rural and agricultural areas that traditional financial networks have difficulty in reaching and will change the conditions prevailing in the world right now.
A user joining Kora will be able to easily access all available services on the network. The rights recognized by all other users will be equal among those involved in the system. Kora is introducing the market for crypto-agent roles as well as providers of access to financial services for users and the network. The Kora agents that have a conversion eFiat's to fiat currencies will help, value for the commission, to properly process some kind of cash distribution network.
Kora acts with the intent of strengthening by integrating a financial crypto ecosystem that is capable of self-sustaining, rather than displacing the former by offering new crypto tools to communities with financial needs. It is obvious that there are administrative and systematic deficiencies in the projects financially emerging so far. Therefore, sustainability has also a great importance in terms of crowds that are deprived of access to financial assets.
Kora systematic model will be structured in such a way as to act on four basic layers. Protocol base layer will set binding rules for everyone on the network. Data layer will be the database where all information is stored in the way that the protocol specifies its limits. Applications layer will allow the stored data to be processed in the platform system. In case Access layer will help ensure that users connect to the network quickly and smoothly.
Kora will provide ease of use as opposed to traditional structures in services such as money transfers and payments. Bank transfer, crypto transfer, and Kora agents, etc. many options will be presented to the users of Kora. In addition, heavy and slow-running procedures such as crediting and lending will be cleared the hurdles thanks to Kora. Traditional financial platforms have demanded from clients who are applying for a credit or a debt, which they have proved that doesn't need to receive a credit or debt to be able to get the amount they're requested. Kora's goal is to break the unreasonable and irrational process cycles such as this with the help of the blockchain and to build a more fair and useful system.
The success of Kora project will be a touchstone for the entire blockchain. I trust this project. In my opinion, especially in Africa, Asia, and South America, it is highly probable that their ideas and platform will work efficiently. The whole world should be ready to see that Kora is a very important project of hope, which is motivated by the ability to find enough financial support to fight for poverty and to achieve something for the millions who have limited or no access to financial services.
My Bountyhive Referral (Username: Carpgoth)
eFiat are digital versions of national currencies that users understand and trust. They are 100% backed by cash reserves, and redeemable on a 1:1 basis.
Thanks for your comment
I think that Kora has the potential to change things in areas where people, especially Africa, can't reach banking services.
Exactly. This project has a very big potential.
Kora has a big potential for development of africa. Blockchain can give the liberation to this lands, thans to decentralized movement
Yes this project is very important in terms of the future of region. #Kora personified the opportunity of Africa’s improvement
Kora services would include the ability to access marketplaces, to make payments, transfers, investments, and to lend & pool capital across any community. The project will be the blockchain gate of Africa..
Kora will be a hope for poor countries' people as reaching financial services.
i agrre with you, Kora project will show the difference at financial market, hight technology in addition solid team
#Kora will play a song of financial liberation and solution on #Africa ‘s region