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Alternative Market Briefing

Kora Network to access underserved communities with blockchain technology

Wednesday, May 16, 2018

Maomao Hu
Benedicte Gravrand, Opalesque Geneva:

Kora Network, which is raising money through an ICO, aims to provide a low-cost 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 low-income populations and brings them into the global economy, its white paper says.

"At the core, it's about creating these local ecosystems in emerging markets, where we want to create sustainability locally," co-founder Maomao Hu tells Matthias Knab on Opalesque TV. "The way we do that is we use the blockchain to provide equal access to financial services, even without internet. Stuff like identity, remote money transfer, compliance. We anchor the money inside these co-ops. And the other side of the equation is that we connect these eco-systems to global markets, whether it's through direct payments, cross-border payments for the goods that are being produced. In the case of Peru, we're working with coffee exporters, so it's direct payments for coffee. Or it is in the form of investment; loans, equity, bonds. That's how we get investment in while producing returns for other investors. That is our met......................

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