Meteor Games: KORA TOKEN REVIEW

What is Kora ?

Kora is a popular musical instrument in the Western/Eastern region of Africa frequently
played in songs of celebration, or to pass a message of hope.

Kora is also a project of hope for billions of people who are underserved by the current
financial system.

While there has been progress toward financial inclusion, an estimated 2 billion adults
worldwide don’t have a basic account.

Barriers to account-opening include distance from a financial service provider, lack of
necessary documentation papers, and lack of trust in financial service providers.

We believe existing platforms fail to address users’ lack of access to electricity, the Internet,
or capital to afford a smartphone as well as lack of understanding around technology and
finance.

As a result, we estimate that billions of people cannot grow and accumulate wealth, causing a humanitarian and economic crisis that leaves out a third of the world'’s potential for value creation.

The Kora Network is expected to provide a lowcost, financial services platform for all.
Accessible by SMS/USSD on feature phones or with Internet via a mobile app and powered by blockchain technology, the Kora Network is expected to lower the cost to serve for lowincome populations and brings them into the global economy.

We aim to free the trapped capital, intellect, and creativity of the long tail through selfsustaining, community-owned ecosystems.

Kora Network Token (KNT)

KNTThe 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.
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When users transacts 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.

Use Cases

Money Transfer & Payments

Today, if someone living in London wants to send money back to their mother in a village in Nigeria, they have to go to a local money transfer company (i.e., Western Union, MoneyGram, TransferWise, etc.), which normally takes about 5-8%+ fees. Then, their mother has to go or send someone to travel two, three hours to the nearest place to pick up the cash. With Kora, users will also be able to pay for mobile airtime and data subscriptions, bills, merchants and third-party services for energy, education, micro insurance and other use cases.

Agriculture

Across Africa, agricultural activities are conducted in rural areas, which are characterized by a high density of unbanked people. Large corporations receive their agricultural supply and raw materials from local farmers, but the farmers are not paid until after three to four weeks of supplying due to the widespread lack of financial identities or bank accounts. Most transactions are cash-based through every step in the supply chain, facilitating the use of middleman and corruption which result in farmers not being able to receive full payment.

International Distribution of Funds

One of the greatest challenges of international aid is corruption. Multiple channels are needed for aid to get to its intended target, but at each channel, a large portion of money is unaccounted for. Kora solves this by distributing and tracking funds on the blockchain, so communities receive the full help they need.
For humanitarian missions, every user in the country affected can be given a humanitarian Kora account, which will enable the user to receive transactions with vouchers that allow them to access multiple services through SMS/USSD or the mobile app.