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[ANN] [pre-ITO 17.Aug] Karma. Economy of Trust. p2p-interchange protocol

Posted: Mon Aug 14, 2017 2:58 pm
What is Karma
Global decentralized blockchain-platform,
where people and companies can interchange directly to each other.

We create the ecosystem, where people can create infinite types of relationships: from hardcore pawnshop-type short-term loans to social loans with zero interest rate, zero collateral rate and without exact timing on repayments (e.g. borrower can pay when there will be an opportunity and the lender is OK with it).
Such agility and infinite relationships diversity makes the whole ecosystem more sustainable.

Create a community with high level of mutual trust.
Create a powerful impulse for small and medium entrepreneurship in every country in the world, increase SME’s share in economy.
Distribute capitals evenly across the world.Create opportunity for direct resources interchange

We believe we can implement Bernard Lietaers' ideas on Commercial Credit Circuit C3 ( ... ircuit-c3/) and create the ecosystem where no money is needed for exchange. Occasionally, such kind of system works well in Switzerland (WIR, since 1939) and there's also a pilot project in Uruguay. Also there'll be a Mututal Aid Society like one described in Daniel Larimer's blog post ( ... Insurance/).

What if the loan will not be repayed on time?
Answers for one of the most popular question:
Mutual responsibility: in case of loan default the reputation and deposit goes down for each participant of the transaction. In case of success — they both goes up.
Every loan is an e-contract having a legal force.
The network of the p2p-insrurers provides the insurance. Also, the Karma itself moves some part of the income to the global mutual insurance fund.
The network of the local p2p-agents can help to rebuy the loan.
Open API for connecting the thousands of scoring parameters.
Recommendations for creating maximum diversified investments portfolios.
Gentle involvement of the new community members via existing solid professional or local communities.
Karma itself moves part of the income to the Mutual Aid Fund to cover some losses of the community members.
Karma has the «social delegate» role for offline check of new members (like in AriBnB).

A bit of stats:

97% repayment rate at the international Kiva platform. 1.6 mil. of people.
8% late or charged off at Lending club p2p-lending project (US).

Why one should trust the team?
Most people from the team are public persons, we can provide links to Facebook or Linkedin accounts. One of us, for example, is an IT-Architect of MOEX (largest Russian fiat Stock Exchange). Also there’s a lot of conferences where we’ve attended as a speakers. Our reputation costs lot more than 500k at pre-ITO.
We’re not trying to raise tons of millions of USD from nothing. We prefer to be conservative and earn reputation step by step.
There will be a multi-sig wallet locking the pre-ITO funds. Wallet opens with 3 of 4 signatures, 2 of them are owned by lawyers from Netherlands and UK.
UK-based company Goodeast Consulting Ltd. (company number: 10596223) takes the responsibility on targeted use of collected funds during the period from preITO to ITO.
After the ITO both tokens and funds of co-founders will be locked up to 1 year.
We have p2p-funding experience since 2014: SME’s loans for business development projects, p2p-factoring for e-commerce.

Blockchain technologies
Karma is an OpenSource-project.
We use the fastest and the most affordable blockchain— Graphene:
Up to 100,000 transactions per second (30 in ETH, 7 in BTC);
Transaction cost as small as 0.02 USD (1.5 in ETH, 5 in BTC);
HTTP-REST API for web-applications;
Smart-contracts via Graphene plug-ins (like Steem, Open Ledger);
Active ecosystem growth (EOS, OCASH).

Why do we need blockchain in Karma?

1. Secure transactions ledger;
2. Fast and easy cross-border money transfers; — Crypto-currencies usage.


17—30 August 2017
1KRM = 100USD.
5000 KRMP to be issued for sale.

Alpha-version development
Cryptocurrency as a collateral and as a loan
(including bitUSD for fiat-conversion).
Interest rate, collateral rate and need for return to date — as agreed by parties.
Legal issues resolving, non-profit organisation registration.
PR and marketing for the ITO.

November 2017
1KRM = 200USD
50 000KRM issued for sale.
Pre-ITO backers exchanging their KRMP tokens to KRM in proportion 1 old to 5 new.
After the ITO, 50% of net profit will be allocated for tokens buyback.

Token distribution:
75% backers,
25% founders (1 year vesting).

ITO funds distribution:
50% product development,
20% conservative endowment fund,
15% marketing and PR,
5% bounties for active community members,
5% founders, 1-year vesting,
5% lawyers.

English presentation: ... dl=0&raw=1
Russian Whitepaper: ... KG0Lk/edit#
(English version coming soon).

Telegram RU:
Telegram EN:
Slack: ... ZWI0OThhZA

Will be glad to answer your questions and listen to your constructive proposals on project.
Have a nice day :)