Solution for Countries with high inflation - KOI token

Repost from my steemit account

Crypto currency development is in progress, but there is a lack of involvement for general population, that have difficulties with following all technical innovations, and lack of knowledge to use all that advanced technical features, needed for crypto currency trading. So, there is a need for crypto trading daily, but there are not universally acceptable interfaces that could be used for trading.

Current world is functioning with bank system and governments that control fiat quantity in circulation, but if they are not functional and their behaviour is not aligned with people needs, there is an issue, that require solution. One of the countries that could be identified with this issue is Venezuela, since the inflation is huge, and it is almost impossible to use cash in everyday transactions, since the value of cash is decreasing with a time of a day, not to mention daily. With a help of crypto currencies, that are volatile, but the pace is much lower than current inflation, people could trade without intermediaries. Cards are other solution, but there is a fact that Venezuela is planning to ditch Visa and Mastercard, and additionally, their services are expensive for this kind of market. One more thing to consider is that there is a huge diaspora of people that migrate from Venezuela and send money to their relatives in Venezuela. Since the country is pretty closed, it is an issue to send money back, and that creates fees, that could decrease the value send. It could be dramatically decreased, but also trust and security of these transactions, that are not official is problematic.

Issue is recognized in the country, and there are solutions provided, but their services are not scalable, and depend on bank system in the country.

KOI token project vision is to step in this gap in the market and provide solution that will solve the trade issue for countries with unstable currencies and political systems. It is a mission to deliver crypto currencies and blockchain technologies to general population, which is in line with expectation for mass adoption, that is speed up with Facebook Libra project.

KOI project foreseen 5 billion tokens, as maximum supply, but 4.8 billion as actual supply and soft cap is set on 2000 ETH, with hard cap on 54 thousand ETH. Project is based in Venezuela, which is also a first target market, since their perfect match will all the issues that are addressed with the project. Minimal investment is 500 KOI, which is close 0.15 ETH, based on an ICO price of 0.0002997 ETH for 1 KOI.

Important feature that is included in a solution is a number of transactions, which is 23 thousand per second in KOI wallet, with goal to reach 100 thousand. Fees comparison table with bank transfers is provided in a whitepaper, and zero fees for wallet holders and low fees for transactions are incomparable low, when compared to bank transfers fees, both international and domestic. Metamask is foreseen for usage of the wallet, and with their mobile version already in test phase, KOI project has good support.

Project website:
ANN thread:

ETH: 0xFa1b8166B0f109795dE9844E8B55014608996A06

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