Alt Coin News Daily! + Kora ICO Review

Altcoins
Streamr
Just after recently announced partnership with HP @ Consensus, it has also announced partnership with Nokia.

Theoretically, users of Nokia's base station hot spots could eventually buy and sell data worldwide via the Streamr Marketplace.

https://twitter.com/streamrinc/status/997190746649264128
https://www.ethnews.com/streamr-partners-with-nokia-osisoft-to-create-iot-economy-and-transform-data-ownership

MonaCoin
There are apparently multiple reports of a 51% attached on MonaCoin.
(So careful out there)

MonaCoin is the first Japanese alternative cryptocurrency conceived in 2013.

https://www.reddit.com/r/monacoin/comments/8k7640/51_attack_on_monacoin/

Ink
After recent Nebulas and CertiK partnership announcement @ Consensus, Ink will collaborate with Certik to conduct formal verification of Ink’s smart contracts and program testing to enhance security.

Ink is a set of blockchain solutions based on global cultural industry.

https://twitter.com/inklabsfound/status/996700872422801410  
News
China rates blockchains
Chinese government ranked Ethereum as the world’s best blockchain at number 1. The top five also includes Steem, Lisk, NEO, and Komodo. Bitcoin was left at rank 13.

The rankings are based on three criteria: technology, application, and innovation.

The high ranking of Ethereum and smart contract blockchain networks could influence the government to allow some to operate in China.

https://www.ccn.com/china-ranks-ethereum-as-the-worlds-best-blockchain-network-bitcoin-at-13/

South Korea to follow G20 unified cryptocurrency regulations
The South Korean government reportedly plans to soften its crypto regulations in line with the policies set by the G20 nations in an effort to create “unified regulations.”

https://news.bitcoin.com/south-korea-g20s-unified-cryptocurrency-regulations/

Switzerland formally considers state-backed cryptocurrency
The Swiss government has asked legislators commission a study on the pros and cons of a Swiss “e-franc.”

https://news.bitcoin.com/switzerland-formally-considers-state-backed-cryptocurrency/  
Entertainment
So what is it this time?
The current sentiment is quite negative, expectedly, as the market is going the other direction after all the hopes on Consensus, that it would makes us forget the last few months.

Some “funny” reasons on article below. Looks like there isn’t any further excuses :D

https://www.reddit.com/r/CryptoCurrency/comments/8kavb3/so_what_is_it_this_time/

 
Pros
Introduction
Kora Network is a community owned financial infrastructure.

In this 21st century, according to the World Bank and the United Nations, there are more than 2 Billion people has no Bank association due to proper documentations or lack of easy access to a bank or financial system. Take the bank itself to the people specially those unserved one without any pre-requisition is the prime goal of Kora Network.

Kora Network has seeded their project back in July 2017. The product is currently using Rinkeby test network by communicating with an Android application and an SMS interface.
Problem
• High Cost to Serve
• Misconception that the Underserved have Little Value
• Lack of identification documents
• Lack of trust and technological Understanding
• Lack of financial Literacy

Brief description of the problems:

Banking services is an expensive, inaccessible and complicated due to a number of factors such as guaranteed resources, liquidity and formal identity to determine creditworthiness, mortgage property, interest rates and unnecessary bureaucracy.

With high fees of accessing and making transaction of money for small investment even for personal level transfer is a big issue for people with basic needs. Cross-border payments with regular bank may have huge restrictive, also taking days. People with limited knowledge are facing severe problem of understanding and dealing with a corporate bank for all of those restriction.
Solution
Kora Network is planning to form an infrastructure of low cost financial services to help people connect with each other and make relevant transactions from within a single ecosystem. Using this service, users can avail financial services via USSD interfaces, SMS, smartphones and even in person. They are offering a decentralized, higher on security purpose, more affordable and 24/7 accessible banking platform.

Four fundamental functions are built into the Kora Network

• Identity: Users can prove their true identity and the validity of their activity.
• Secure Storage: Users are more secure with this. they are protected from stealing their funds. no one can steal or devalued their funds.
• Money Transfer: Users who using this can easily transfer money to each other with securely.
• Market Places: Users who use this can exchange money for services, good and capital by easily access venues.

MVP
In April 2018, the team started to test their product in Nigeria, in a community called Jere in Kaduna State. The test was conducted with over 300 farmers. The MVP is running on the Rinkeby test network, with an Android application and an SMS interface. Third-party services, such as GRID + or SALT Lending, expand the range of services provided.

The key features and capabilities of the platform include remote monitoring, connectivity with patient devices, video and conference capabilities, and integrations with various electronic health records systems.

Team
The team currently consists in 10 members and 5 advisors. Combine the banking, financial modeling, transactions and networking experience together with blockchain, local and global mobile network communication.

Partnerships
They have six partnerships. Aeternity, Rivetz and thrive agric are the key ones.
Crowdsale
Kora Network(KNT) crowsale will start from May 18th 2018 to June 18th 2018, or until reaches the overall sell limit.

Total supply of 755,007,338 KNT tokens where 45% (339,753,302 KNT) are for the crowdsale (out of 339,753,302 KNT 57,000,000 KNT sold in private sale)

1 Kora Network (KNT) token = $0.1 dollar (10 US cents).

The discount schedule is as follows:
25% on Day 1 - 3
20% on Day 4 - 10
15% on Day 11 - 17
10% on Day 18 - 24
0% on Day 25 – 31

There is no a minimum investment requirement and restrictions for US and China citizens only.

All unsold tokens will be burned
Why Blockchain
Blockchain will give the platform a transparent, trustless and universal access with low transection cost fees. And it will enable 24/7 banking service. It will be also creating a Community Value Network for creating with provision of an autonomous service in the field of financial services.
I disagree with "blockchain provides low transaction fees"
because if their focus is on africa and the farmer makes few $ per day
then a single transaction costing a few cents or $0.20 for ethereum will be a LOT of money
Verification Requirements
KNT requires no formal identity for creating and doing transection of currency. It only requires a mobile network number.
Storage and Security
The Kora network will support national currencies as electronic, cryptographically secure markers (eFiat). eFiat will increase ease of use and adoption by offering users the
benefits of digital currency in a form they understand and trust.
Fraud
Fraud is an ever-increasing problem in banking. Kora network gives individual identification code for secure transaction.
A cool feature
Kora network will be built on Ethermint. Ethermint supports Ethereum community and it integrates with cosmos network. By connecting with cosmos network, Kora will be 100% interoperable with other blockchain.
Cons
Marketing Drawback:

• The project team did not disclose the marketing strategy and methods of attracting users, which may result in an insufficient number of users on the platform.
• The difficulty of building an ecosystem (involving agents, users, sellers) in developing countries.
Competitor
• High competition in the selected market like, Trasferwise, Revolut, WeTrust, etc.
• also https://airtoken.com/
• airtoken is a big competitor, because they are an ISP provider so they have a lot more data on the "unbanked people in africa" that have no data available (edited)
• Humaniq https://humaniq.com/ is also a competitor - and the CEO used to advise for them (edited)
• but the difference is that kora does not require smartphones like their competition (which is huge, but could change)
Conclusion
Presentation: 5 /5
Great website and strong media presence. Detailed whitepaper.

Project: 2.5/5
Trademark. Several clients. Working MVP. Github commit.
Lot of local and global competitors. Including Blockchain related.

Team: 4/5
Experienced team in banking and financial industry.
Most technical members are advisors only.

Rating: 4/5

Not investing at ICO but likely to pick up some coin post ICO.