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Karma project white paper published

Karma is a blockchain-based p2p-lending platform.

The idea of the platform is to create an online community for the mutual exchange of resources and cooperation of people around the world.

Project founders has published the latest edition of the project’s white paper for discussion with the interested community. The paper is open for comments. A community in Telegram has been created for the sharing of opinions and live communication.

In a nutshell:

  • for the past five years, the project team has been engaged in¬†p2p lending in¬†various markets: from SME project financing to¬†e-commerce factoring;
  • the idea of¬†the project is¬†that the Register of¬†Liabilities will help participants save on¬†marketing, taxes, intermediaries and bank %¬†due to¬†the trust within the ecosystem;
  • project is¬†a¬†protocol for accessing the Register of¬†Liabilities;
  • the first workable prototype features¬†‚ÄĒ REPOs and options;
  • the project should be¬†as¬†crowded and decentralized as¬†possible, and stay that way for as¬†long as¬†possible;
  • to¬†minimize hype at¬†the start, to¬†attract to¬†the project only those who consciously want to¬†make a¬†choice;
  • the project is¬†a¬†non-profit organization whose purpose is¬†not to¬†make an¬†operating profit.

Next, the plan is to gather a pool of backers for pre-ITO round (500K USD), develop an alpha version of the product and prepare for global crowdfunding (10M USD).

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