Карма Karma Economy of Trust Экономика будущего
What is Karma? A platform for creating social and economic interaction between people all over the world: from pawnshop to charity, from loans to direct exchange of goods and services. Mission: — Give people from countries with inefficient financial systems access to resources. — Create possibility for investors from countries with low interest rates to invest into emerging markets. — Create a powerful impulse to the development of entrepreneurship all over the world. — Create a society of mutual trust and aid. — Lower down the interest rates to 0% (net of inflation).
Expenditures on banks and insurers (30% GDP) 18 th - 20 th Centuries Repayments Investor’s profit Economy Investors The bank is the center of competences Borrowers The investor brings money to the bank, because he does not have competences and information for independent crediting. The profit of the centralized p2p-platform p2p-platforms are the center of competences 21 st Century Economy Investor’s profit Investors Borrowers The investor gives a loan to the entrepreneur directly, an independentpeer-to-peer platform provides the investor with the competences. The profit is divided between the members of the decentralized community Marketing Lawye Analyst Realtor expert r Guarantor Insurer Debt Appraiser collector The participants are the center of competences Future Economy Investor’s profit Investors Borrowers Loan becomes a cross-border activity. Competences are passed to independent participants, the efficiency is defined by their rating.
Market Volume We create new relations worth trillions of dollars Lack of loans in emerging markets: 2.1—2.6 trillion USD 50% The percentage of GDP in bank deposits worldwide (World Bank) 38 trillion USD Approximate value of bank deposits in the world Source: worldbank.org/en/topic/financialsector/brief/smes-finance, datamarket.com/data/set/28m2/bank-deposits-to-gdp
The background of p2p development Old banking formats Time Collateral It takes a bank from 1 to 6 Banks act like pawnshops months to process with SMEs. The value of the a business loan application collateral exceeds the loan a few times. Inaccessibility Strictness More than 2 billions of people Strict loan requirements are unbanked in the world. and rigorous procedures of (World Bank). checks limit financing options Images by freepic
The speed of p2p credits market growth Morgan Stanley, Disruptive Innovation in Financials 2020 286.3 2019 273.2 2018 220.3 2017 182.8 2016 119.1 2015 61.2 The largest markets: USA, UK, 2014 23.7 China, Australia 2013 9.3 Markets with high potential: 2012 2.4 Russia, Latin America, Asia, 2011 1.4 Africa 2010 1
Competitors and partners The main Karma’s difference: it’s an open platform for economic relations with unlimited options for people around the globe. Karma BitBond Everex WeTrust Dharma SALT Suretly Kiva LendingClub Cross-border international deals Members can play any role in the process Different types of credit assets (crypto, fiat, other) Different types of collateral assets Members can create new types of loan conditions Interest rates are determined on the open market Different types of scoring parameters Mutual responsibility, reputation accumulation Loans for the future delivery (forward contracts) Legal in fiat world Karma has no competition policy: we are ready to become partners with any financial service or asset tokenization platform.
10 key features Decentralized roles Unlimited relations parameters Decentralized geography 1 2 3 Community members can perform Participants can choose loan An efficient entrepreneur from Asia any role: scoring, investment, conditions: credit terms, interest can get a loan from an investor in borrowing, insurance. The efficiency and collateral rate from zero Switzerland. Currency risks are will affect the members’ karma (rating). to infinite. insured by other participants. Decentralized IT Any assets to borrow or lend Maximal automation 4 5 6 Thanks to the blockchain Crypto assets, fiat currencies, Electronic loan agreements and surety technology, the data is securely mortgage through API, loan against bonds, transfer of rights, class actions, stored in a worldwide delegates housing, goods in transit, gold, and deposit or collateral registration and network. other assets. liberation. Smart scoring Mutual responsibility Marketing 7 8 9 Programmed scoring: big data, Every deal participant puts their The producers of goods and services machine learning. External scoring reputation and money at stake. We will be able to tell about their products services. Online scoring of create a close community based on to the world. Buyers can become borrowers’performance. mutual responsibility. investors. Loans for the future delivery 10 Selling goods or services to be delivered in future. For example, selling under-construction real estate.
The algorithm of a deal 1. Users register and browse lists of supply and demand 8. The borrower performs monthly repayments through the escrow for resources. account, the system marks the number of the electronic agreement 2. To conclude deals, it is necessary to go through KYC (Know in all the payments. Your Client) procedure: provide their mobile phone number and 9. The smart contract sends the payment from the escrow account passport or identity card. to the creditor. 3. The deal participants sign an electronic agreement 10. Karma registers the repayment in the blockchain. that has legal force. 11. When the repayments are finished, Karma registers the loan closing 4. Karma provides an independent escrow account in a bank in the blockchain. for fiat currencies or crypto escrow for crypto assets. 12. The deal participants’ karma is recalculated (their rating is updated). 5. The creditor sends assets to the escrow account, the system adds a note with the number of the electronic agreement. 6. The smart contract analyzes the notes made to the payment orders and sends money to the borrower from the escrow account. 7. Karma registers the loan in the blockchain.
Plan Past, present, future 10 companies, The first Complete version of the platform. over 5M USD. business loan: Transactions volume about 50M USD. 0% default rate. 0.5M USD Reaching operational self-sufficiency Demand few times Presale completed. under 30% annual of the project. exceeds supply 500k USD raised. interest 2016 Q2.2017 11.2017 08.2017 Q3.2018 2014 2017 Alpha version presentation, Presale Portfolio 100% legal construction preparation of 5 companies, developed, with 1.5M USD volume token sale at 10M USD. Alpha version (11.2017): Second version (Q1-Q2.2018): Third version (Q3-Q4.2018): — Collateral-free loans with fiat; — Karma-token as a payment for internal commissions; — Transaction with tokenized offline assets — Loans against crypto currency. — Cross-border deals; (real estate, gold, other resources); — Currency risk hedging; — Creation of new social roles; — Increasing the number of social roles; — Financing for the future delivery — Involvement of new partners in scoring, identification, of goods and services; and liquidity. — Barter economy. — Creation of the global ambassadors network.
Presale Token Sale 17-30 August 2017 27-29 November 2017 Hard cap 500k USD successfully reached Hard cap: 10M USD — Funds distribution: — Basic token price : 0.01 USD. Token sale is held directly at the exchange. After the — Alpha-version development; token sale ends, new exchanges will be added to provide extra liquidity. — Project management; — Until 26 November 2017 inclusive : whitelisted participants KYC. — Legal construction development; — 27-28 November: exclusive token sale for whitelisted members. — Token sale Marketing and PR; 50% discount until 0.5M USD is collected, 30% until 1.5 M, 15% until 4M. — Creating a foundation for investing — 29 November: open sale of remaining tokens. in the first loans inside Karma. — Task: fundraising for platform development during 1 year, until reaching self-sufficiency. — Funds distribution: — 45% product development and marketing, — 20% conservative endowment foundation, — 18% marketing and PR of token sale, — 10% mutual aid system (insurance fund), — 2% lawyers, — 5% founders, 1-year vesting, — Final distribution of tokens: — 50% token buyers, — 25% founders, 1-year vesting, — 25% bounty reserve.
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