Kora

Kora Network is an infrastructure for inclusive community owned financial systems.

About Kora

The Kora Network, which will be built on four layers of infrastructure, aims to provide a low cost, universal access, financial services platform, accessible via SMS/USSD on feature phones, or with internet access via mobile app, enabled by blockchain technology. The four layers of the Kora Network are: (1) Identity – users can prove who they are and the validity of their activities; (2) Secure Storage – users can protect their funds from being stolen or devalued; (3) Money Transfer – users can transfer money to one another quickly and securely; (4) Marketplaces – users can access venues to exchange money for goods, services, and capital.Kora aims to help communities build self-sustaining, community-owned financial service ecosystems, and to help bring low-income populations into the global economy.

Competitors: Atencoin, Credits, Cryptid, ShoCard, uPort, KYC-Chain, Bloom
Uniqueness/Advantages to competition: Allows for both identity security and value transfer in the same ecosystem/marketplace.

Token Sale Use of Blockchain

Product

3.6
Product
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

4.0
N/A
4 - Beta or initial rollout.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

4.0
N/A
4 - Captivating.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

3.0
N/A
3 - Some normal competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

3.0
N/A
3 - Partial, a novel approach or aspect.

Product

There is currently a publicly accessible and very active github repo, showing work for the frontend, backend, and the token smart contract. Complete beta/final blockchain development/testing for the platform are planned to occur after the ICO, and the public release is planned to occur in 2019 (see Roadmap). There is appeal to the Kora product in terms of providing a decentralized financial marketplace with verifiable identity.
The project’s beta program consists of partnering with a farming aggregator based in Abuja, the capital of Nigeria, with a network of farmers located in the surrounding rural areas, so as to allow farmers to pool their capital and provide a solution for the challenges and risks of money transfers.
Competitors include: Atencoin, Credits, Cryptid, ShoCard, uPort, KYC-Chain, Bloom.

Product Whitepaper

Use of Blockchain

3.6
Use of Blockchain
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

3.0
N/A
3 - Automation; making something easier to do.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

4.0
N/A
4 - Generally disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

3.0
N/A
3 - Issuing a custom token is justifiable.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

4.0
N/A
4 - Mostly decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

4.0
N/A
4 - Captivating.

Use of Blockchain

The project’s contribution to blockchain development is in creating a decentralized crypto marketplace with identity verification. There is a disruptive advantage as the platform is aimed at enabling verifiable, identity-backed, crypto transactions, which is a big issue in cryptocurrency adoption. From the FAQ: “Currently we are using the uPort model of proxy contracts owned by controller contracts that can recovered by a quorum of trusted users. This is in turn linked to a decentralized personal data server that houses all your private data and is secured by private key/keystore.” KNT will be used as the staking mechanism for selecting block producers as well as a single medium to pay for fees incurred by the Kora Network.

Use of Blockchain Roadmap

Whitepaper

3.8
Whitepaper
Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

3.0
N/A
3 - Basic honesty with some hype.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.

Whitepaper

There are two papers for review on the website – a vision paper and a technical whitepaper. The papers are well put together, professional and aesthetic, and the vision paper contains a mix of media and textual explanation. The whitepaper is 27 pages in length and the vision paper is 21 pages long. The vision paper can be easily read and understood due to the amount of media presented and layman descriptions provided. The whitepaper provides high level information and includes the following sections: Abstract, Problem, Related Work, Building Blocks for Inclusive Financial Systems, The Kora Network, Unlocking the Long Tail, and Conclusion. The vision paper covers: Executive Summary, Problem, The Kora Ecosystem, Network Architecture, Use Cases, Beta, Roadmap, and Team. The business and technology plans behind Kora are detailed and concisely explained including textual and graphical explanations. References are provided in foot-end-note form.

Whitepaper Compliance

Roadmap

3.0
Roadmap
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3.0
N/A
3 - An overall plan, major milestones stated.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

3.0
N/A
3 - A trend with potential.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

3.0
N/A
3 - Imperfect but available, or using substitutes.
Current Position

Where is the project now, relative to its vision and plans?

2.0
N/A
2 - Critical obstacles ahead.

Roadmap

A milestone roadmap is given on a monthly basis. Obstacles lie ahead as beta testing, final platform/blockchain development, and public platform launch will occur after the ICO. The roadmap is vague and provides no descriptions of the intermediate steps required to complete each milestone.
Roadmap:
Jul – 17 Seed Investment
Aug – 17 Kora 1.0 Development Begins – USSD / SMS & Mobile App
Sep – 17 Kora 1.0 Launches on Ethereum Testnet
Nov – 17 User Testing Launched in West Africa
Dec – 17 Core Network Development
Jan – 18 Kora 1.0 Launches on Permissioned Testnet
Mar – 18 Pre – sale
Mar – 18 First Beta Launches
Mar – 18 Public Sale
May – 18 First Beta meets all milestone
Aug – 18 Launch Pilot in Africa
Mar – 19 Asia & Global Expansion
Nov – 19 Kora 2.0 Launches

Roadmap Company and Team

Compliance

3.4
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

3.0
N/A
3 - Limited or uncertain use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

2.0
N/A
2 - Primarily, with few additional rights.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

4.0
N/A
4 - Beta or initial rollout.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

4.0
N/A
4 - Professional.

Compliance

As stated in the FAQ, “Most financial activity between users will be denominated in eFiat instead of KNT. KNT will be used in the background as the staking mechanism for selecting block producers as well as a single medium to pay for fees incurred by the Kora Network.” (where “eFiat are digital versions of national currencies that are 100% backed by cash reserves, and redeemable on a 1:1 basis.”)
The Kora Network tokens have intrinsic value through their planned usage on the Kora platform by allowing for interaction, payments, and identity verifications, enabling participants to build reputation and credit via their transaction histories.
The token smart-contract is available for public review on the very active github repo and there are iOS/Android apps available.
Compliance is addressed with direct statements of AML & KYC Due Diligence, and this is enforced with a manual screening process via whitelisting. The legal disclaimer states that the tokens are intended for use as functional utility tokens and and come with no warranties. The terms and conditions of the sale aim to absolve the company of any liability regarding the ICO and any problems that may occur, and provide a general statment that the tokens are not to be deemed a security.

Compliance Token Sale

Company and Team

3.8
Company and Team
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.

Company and Team

Kora has an established team with 12 employees, 4 advisors, and 14 Partnerships.
The core team has experience in mobile tech, IT Process, AI development, programming, business development, finance, marketing, blockchain architecture, and blockchain/cryptocurrency/smart-contract projects.
No LinkedIn links are provided for the advisors but the website states their experience to be in identification tech, banking/payments tech, and fintech.
Partnerships include very reputable blockchain organizations such as Consensys, Stellar, and Coinfirm.
All team members have verifiable work experience credentials via LinkedIn profiles, however some profiles provide little information. Some members of the team appear to be dedicated to other projects outside of Kora.
Positives: The many core team members and advisors have previous experience in the field of blockchain, cryptocurrency, or smart contracts.
Negatives: Not all members are fully dedicated to the project.

Company and Team Product

Token Sale

2.6
Token Sale
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

1.0
N/A
1 - Not clear how funds will be used.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

2.0
N/A
2 - Unclear or suspicious.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

2.0
N/A
2 - Minor exposure and interest, or ambivalent reception.

Token Sale

Kora Network Token (KNT)
Hard Cap: $24 million
Soft Cap: $10 million

TOKEN DISTRIBUTION
N/A

ICO Funds Allocation
N/A

Social Media Presence & Following
There is very little community engagment and reception.

Product

There is currently a publicly accessible and very active github repo, showing work for the frontend, backend, and the token smart contract. Complete beta/final blockchain development/testing for the platform are planned to occur after the ICO, and the public release is planned to occur in 2019 (see Roadmap). There is appeal to the Kora product in terms of providing a decentralized financial marketplace with verifiable identity.
The project’s beta program consists of partnering with a farming aggregator based in Abuja, the capital of Nigeria, with a network of farmers located in the surrounding rural areas, so as to allow farmers to pool their capital and provide a solution for the challenges and risks of money transfers.
Competitors include: Atencoin, Credits, Cryptid, ShoCard, uPort, KYC-Chain, Bloom.

Category Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

4.0
N/A
4 - Beta or initial rollout.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

4.0
N/A
4 - Captivating.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

3.0
N/A
3 - Some normal competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

3.0
N/A
3 - Partial, a novel approach or aspect.
Product Score:
3.6

Use of Blockchain

The project’s contribution to blockchain development is in creating a decentralized crypto marketplace with identity verification. There is a disruptive advantage as the platform is aimed at enabling verifiable, identity-backed, crypto transactions, which is a big issue in cryptocurrency adoption. From the FAQ: “Currently we are using the uPort model of proxy contracts owned by controller contracts that can recovered by a quorum of trusted users. This is in turn linked to a decentralized personal data server that houses all your private data and is secured by private key/keystore.” KNT will be used as the staking mechanism for selecting block producers as well as a single medium to pay for fees incurred by the Kora Network.

Category Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

3.0
N/A
3 - Automation; making something easier to do.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

4.0
N/A
4 - Generally disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

3.0
N/A
3 - Issuing a custom token is justifiable.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

4.0
N/A
4 - Mostly decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

4.0
N/A
4 - Captivating.
Use of Blockchain Score:
3.6

Whitepaper

There are two papers for review on the website – a vision paper and a technical whitepaper. The papers are well put together, professional and aesthetic, and the vision paper contains a mix of media and textual explanation. The whitepaper is 27 pages in length and the vision paper is 21 pages long. The vision paper can be easily read and understood due to the amount of media presented and layman descriptions provided. The whitepaper provides high level information and includes the following sections: Abstract, Problem, Related Work, Building Blocks for Inclusive Financial Systems, The Kora Network, Unlocking the Long Tail, and Conclusion. The vision paper covers: Executive Summary, Problem, The Kora Ecosystem, Network Architecture, Use Cases, Beta, Roadmap, and Team. The business and technology plans behind Kora are detailed and concisely explained including textual and graphical explanations. References are provided in foot-end-note form.

Category Breakdown
Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

3.0
N/A
3 - Basic honesty with some hype.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.
Whitepaper Score:
3.8

Roadmap

A milestone roadmap is given on a monthly basis. Obstacles lie ahead as beta testing, final platform/blockchain development, and public platform launch will occur after the ICO. The roadmap is vague and provides no descriptions of the intermediate steps required to complete each milestone.
Roadmap:
Jul – 17 Seed Investment
Aug – 17 Kora 1.0 Development Begins – USSD / SMS & Mobile App
Sep – 17 Kora 1.0 Launches on Ethereum Testnet
Nov – 17 User Testing Launched in West Africa
Dec – 17 Core Network Development
Jan – 18 Kora 1.0 Launches on Permissioned Testnet
Mar – 18 Pre – sale
Mar – 18 First Beta Launches
Mar – 18 Public Sale
May – 18 First Beta meets all milestone
Aug – 18 Launch Pilot in Africa
Mar – 19 Asia & Global Expansion
Nov – 19 Kora 2.0 Launches

Category Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3.0
N/A
3 - An overall plan, major milestones stated.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

3.0
N/A
3 - A trend with potential.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

3.0
N/A
3 - Imperfect but available, or using substitutes.
Current Position

Where is the project now, relative to its vision and plans?

2.0
N/A
2 - Critical obstacles ahead.
Roadmap Score:
3.0

Compliance

As stated in the FAQ, “Most financial activity between users will be denominated in eFiat instead of KNT. KNT will be used in the background as the staking mechanism for selecting block producers as well as a single medium to pay for fees incurred by the Kora Network.” (where “eFiat are digital versions of national currencies that are 100% backed by cash reserves, and redeemable on a 1:1 basis.”)
The Kora Network tokens have intrinsic value through their planned usage on the Kora platform by allowing for interaction, payments, and identity verifications, enabling participants to build reputation and credit via their transaction histories.
The token smart-contract is available for public review on the very active github repo and there are iOS/Android apps available.
Compliance is addressed with direct statements of AML & KYC Due Diligence, and this is enforced with a manual screening process via whitelisting. The legal disclaimer states that the tokens are intended for use as functional utility tokens and and come with no warranties. The terms and conditions of the sale aim to absolve the company of any liability regarding the ICO and any problems that may occur, and provide a general statment that the tokens are not to be deemed a security.

Category Breakdown
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

3.0
N/A
3 - Limited or uncertain use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

2.0
N/A
2 - Primarily, with few additional rights.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

4.0
N/A
4 - Beta or initial rollout.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

4.0
N/A
4 - Professional.
Compliance Score:
3.4

Company and Team

Kora has an established team with 12 employees, 4 advisors, and 14 Partnerships.
The core team has experience in mobile tech, IT Process, AI development, programming, business development, finance, marketing, blockchain architecture, and blockchain/cryptocurrency/smart-contract projects.
No LinkedIn links are provided for the advisors but the website states their experience to be in identification tech, banking/payments tech, and fintech.
Partnerships include very reputable blockchain organizations such as Consensys, Stellar, and Coinfirm.
All team members have verifiable work experience credentials via LinkedIn profiles, however some profiles provide little information. Some members of the team appear to be dedicated to other projects outside of Kora.
Positives: The many core team members and advisors have previous experience in the field of blockchain, cryptocurrency, or smart contracts.
Negatives: Not all members are fully dedicated to the project.

Category Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.
Company and Team Score:
3.8

Token Sale

Kora Network Token (KNT)
Hard Cap: $24 million
Soft Cap: $10 million

TOKEN DISTRIBUTION
N/A

ICO Funds Allocation
N/A

Social Media Presence & Following
There is very little community engagment and reception.

Category Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

1.0
N/A
1 - Not clear how funds will be used.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

2.0
N/A
2 - Unclear or suspicious.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

2.0
N/A
2 - Minor exposure and interest, or ambivalent reception.
Token Sale Score:
2.6

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