Karma
Economy Of Trust
Presale Completed
1KRMP = 100USD
500k USD raised
ITO
1KRM = 200USD
29 November 2017
p2p-interchange blockchain protocol
Mutual Trust Community
Mission
Create global community
with high level of mutual trust
Create a powerful impulse
for entrepreneurship
Today SME's creating up to 90% working places among all private companies. Wherein, 90% of business-loans issued to large corporations. Karma solves the capital accessibility issue for SME.
Distribute capitals evenly
across the world
Some countries have deposit interest rates as small as -0.75% or 0.1%, and loan interest rates starting just from 1%.
More than 3 billion people live in countries
with loan interest rates as high as 20-30%.
Create opportunity for direct resources interchange
Karma is an ecosystem.
All participants work directly with each other.
People can create lots of different types of relationships, and can decide for themselves which ones are effective and which are not.
What Is Karma?
Global decentralized blockchain-platform,
where people and companies can interchange
directly to each other
Karma Features
10 Key Points
1
Decentralized Roles
At Karma ecosystem anyone can play any role: involve new members, escrow, transaction transport, analytics, scoring, underwriting, insurance, currency exchange hedging, lawyers etc.

Each community member earns money and reputation for useful actions: involving new investor or good borrower, hi-quality scoring, asset management, analytics, insurance etc.
2
Decentralized Interchange Rules
At Karma investors give their money directly to borrowers. Community members can offer any loan conditions: with collateral or without it, with interest rate or without it, with mandatory repayment or without it.

Open market and high number of bids will speed up the evolution. People will choose the best types of relationships for different situations by themselves.
3
Decentralized Location
Effective SME owner from Latin America can attract money from Swiss investor, who has a negative deposit interest rate in his country.

The ecosystem of thousands of hedge funds and currency exchange risk insurers will be in a competition to create the best option for risk minimization. Local lawyers provide correct e-contracts. Local agents provide debt recovery.
4
Decentralized Data and App
Due to blockchain technology Karma doesn't rely on single server or hosting provider, and can provide sustainable service.

The data is securely stored in a decentralized network. Karma app is decentralized too and executes in different servers.

Anyone can connect the server to the Karma delegates' network and earn money storing and processing data.
5
Different Types of Collateral
Cryptocurrencies and tokens, via bitShares technology. Real Estate. There's already an API in Russia, Sweden, Saudi Arabia and Ukraine and there'll be more. Goods and services. Automatic p2p-factoring is already exist. Gold and other digitalized assets: Digix, ChronoBank, BankEx.

Every debt is transferable and splittable.Loan can be provided in fiat currencies via banking API
and automatic payment commentaries analysis.
After the statistics accumulation: loans issued in internal Karma tokens. A huge step to barter direct interchange economy.
6
Total Automation
All interaction processes in the ecosystem are automated as much as possible and don't require a physical presence: electronic loan and surety contracts, reassignment of obligations, collective claims, collateral registration and release, currency exchange risk insurance.

Loan approval time is as low as possible,
and the loan itself is easy-to-use for borrowers: semi-automated scoring, one escrow account for bulk repayments for all investors, payment auto-split to multiple investors via smart-contract.
7
Smart Scoring
Automated scoring: Big Data, Machine learning. Scoring based on reputation accumulated after several successfully completed contracts. Social networks attached, online commercial data attached (Shopify, Etsy, Amazon, Ali, Spark). API for external scoring algorithms. Regular online re-scoring: control over actual borrowers' KPIs. Lots of hackathons for developing new scoring algorhytms.

Social-responsible ecological scoring: If someone haven't passed the scoring at traditional bank, he's just get refused. In Karma he gets the tips on how to grow his score, he also gets the mentors list and special education courses.
8
Mutual Responsibility
Each participant of the transaction commits with his money and reputation. We create strong community based on mutual responsibility. If somebody fulfilled the obligation, his Karma is growing up. If he failed —it goes down.

Also, Karma changes for everyone involved in contract: who brought the borrower into the ecosystem, who sureted for him, who scored his quote as positive.
9
Business Development
Powerful tool for ecosystem growth.
Goods and services manufacturers can easily involve their loyal customers as an investors in the growth of their business. If someone loves the goods they can crowdfund the manufacturer.

Karma itself is not only a financial market. It creates opportunities to promote manufacturers worldwide, involve new distributors, and move to the new markets.
10
Loans For Future Delivery
One can sell his goods or services today and deliver them later. It's like a forward contract, for example: to crowdfund real estate construction at the early stages (day-usage-tokens instead of square meters), agricultural businesses to crowdfund their harvesting
(potato-tokens), for air tickets or tours presales.

Profitable for investors: significant discounts, or re-selling tokens at the exchange for profit.
Profitable for manufacturers: make money today, make turnover faster, promote his own goods and services, payments with his own goods and services.

This is a foundation for the barter economy like Swiss WIR.
Development Plan
Past, Present, Future
2014
First business-loan provided:
0.5M USD, 30% interest rate.

2016
5 SMEs in portfolio,
1.5M USD loans provided.

2017
10 SMEs in portfolio,
over 5M USD provided,
0% default rate,
Demand exceeds loans supply several times.

Q2.2017
pre-ITO preparation.
08.2017
pre-ITO
500k USD

08-11.2017
Alpha-version development: single loan type. Legal issues: non-profit organisation registration etc. ITO-marketing.
11.2017
Alpha-version presentation,
ITO at 10M USD.

Q3.2018
Fully-functional online p2p-platform,
loan volume 30M USD,
operational self-sufficiency.

Next Steps
Funding And Development
pre-ITO
17—30 August 2017
1KRM = 100USD.
5000 KRMP to be issued for sale.

On August 17, we will send the ETH-address of the tokensale smart-contract only to the people who have subscribed on our website. If tokensale will not be ended in August 17, we will make the smart-contract address public on this website next day.
Subscription form is in the end of this page. In case of overbooking before August 17, we will send the address to the most interested investors before presale.

pre-ITO funds distribution:
Product development:
20k USD: blockchain-architect, teamlead.
40k: team from 3 devs and 2 QA for 3 months.
15k: UX/UI-design and frontend dev.
30k: project management.

Marketing:
20k: prepayment for promotion partner for ITO international marketing campaign.
100k: content translation, publications, transfers, conferences, partners involvement.
20k: community managers, editors, bounties.
25k: videos about the project.

Lawyers:
30k for consulting and organisation registration.

Financials:
100k: fund for investing in first p2p-loans inside the platform, and mutual aid insurance fund.
100k: risk-management, endowment-fund for project development, bounties.

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.

ITO
November 2017
1KRM = 200USD
50 000KRM issued for sale.
Pre-ITO backers exhanging 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.
Opportunities For Token Holders
Unique information priviledged access,
discount on transaction fees,
tokens buyback.
1. Special rights and opportunities for members with 10 tokens or more: dark pool access.
Dark pool is a place where all new investments proposals and loan inquiries are put on 7-day period, before they became public. Using dark pool token holders could pick the best gems and use them in their own interests. If several token holders want to pick one inquiry — it goes to the holder with bigger number of tokens.

2. 50% discount on Karma transaction fees
If token holder transaction volume is high enough, the discount will recover the token price in a months.

3. Voting rights
On key decisions making: project strategy, code upgrades, tariffs etc.

Tokens are tradable
The fundamental token supply factor is the growth of the money volume in the ecosystem. The more queries are in the privilege access pool, the more people who will want to own tokens.

Token holders can also play any role in the ecosystem and earn money with reputation by making valuable actions: new investors and borrowers involvement, scoring, insurance, collection, resource transfer etc.

Karma is non-profit: all of the positive delta between operational expenses and incomes will be distributed on tokens buyback, mutual insurance fund, endowment fund and social zero-interest loans.
Fund Storage Responsibility
Control over the targeted use of collected funds

1. Responsibility
London-based company Goodeast Consulting Ltd.
(company number: 10596223) take the responsibility on targeted use
of collected funds during the period from preITO to ITO.

2. Multi-sig wallet
The multi-signature wallet will be opened for money spending only with 3 out of 4 signatures, two of them held by the lawyers from Netherlands and UK.

3. Transparent reports
All reporting on the funds usage will be automatically stored
in Ethereum blockchain. Karma team will provide additional detailed weekly reports on preITO funds usage.
The Team
10−15 years of experience in finance and IT. Public persons, sharing the ideas with community, we value our reputation.
George Goognin
Founder, Evangelist
IT-career since 2002, first IT-startup made in 2008. Ex-Chief Operating Officer in ADV web-integrator, TOP3 in Russia. Clients: MOEX, VTB, X5 Retail. Co-founder of digital business school RIK (more than 1000 students completed the courses). 2013 to 2016 — large e-commerce automation (Apple, Samsung, LEGO, Nike). Ph.D in Economy Math Models.
Facebook
Artem Laptev
Founder, Investment director
Since 2010 has managed private p2p-investment fund for SME.
Developed own scoring strategy with stable and positive results More than 10 years of experience in portfolio management in financial industry: Troika Dialog, Sberbank, Ancor Invest. International CFA-certified financial analyst.
Facebook
Ronny Boesing
Partner, Denmark
Founder of the World's First Decentralized Fintech Exchange OpenLedger, CoinsBank and OBITS. Official partner to multiple funds and exchanges in China. With his partner, Dan Larimer, Ronny is constantly developing the Graphene/BitShares ecosystem. Open Ledger is also a significant player at the global ICO promotion market.
CoinTelegraph
Michael Shlemov
Mentor
UBS, Executive Director of the analytics department. More than10 years of experience in finance. At Deutsche Bank managed the VTB IPO. In 2008 took part in the MOEX IPO. Has been recognized several times in a row as the best industry expert in Russia (Institutional Investor). Ranked among the TOP-3 analysts in financial sector by Extel Russia.
Den Svinarchuk
fintech advisor
MOEX IT-infrastructure architect. Designed the core of the MOEX trading system, managed dev team. High-load expert: MOEX core supports 140,000 transactions per second.
Facebook
Alakanani Itireleng
Partner in Africa
PR Director at Humaniq. Runs SatoshiCentre, a blockchain hub in Africa, launching educational programs for children. Her journey with bitcoin started at 2012, and she is an international bitcoin influencer, having spoken at conferences in Amsterdam, South Africa, and Cote D'ivore.
Twitter
Rustem Zubairov
Consulting partner
Deloitte hits BIG4 for a decades. Rustem is a department director, took part in project of crypto-currencies legalization in Kazakhstan.
LinkedIn
Rustam Vakhitov
Law partner, Netherlands
Department Director at International Tax Assosiates. Lives and works in Netherlands for 12 years. Expert in international law and taxes. Member of the international IFA Association.
Alex Chinyaev
Business partner, UK
UK Karma partner. Worked at Citi bank, RBC, PWC London. More than 15 years of investments and financial operations experience. Alex have UK Investment Management IMC certificate.
Philip Agyei Asare
Partner in Ghana, Africa
Philip played a key role in the development of bitcoin awareness in Africa. He created several blockchain projects: Pak Universal Services, Dream Bitcoin Foundation and BTC Ghana. Philip is a libertarian, he wants to empower Ghana and Africa in general, by spreading the usage of the blockchain technology.
CoinTelegraph
Dima Schnellereich
blockchain advisor
Expert in b2b-sales, marketing, and partnership networks. Business lobbyist. Has brought more than 20 startups to the market since 2012. Ex-advisor in President Putin's Administration.
Facebook
Thierno Madiou Bah
Partner in Sierra Leone, Africa
Telecommunications engineer, young entrepreneur, passionate about blockchain technology. Co-founder of Sierra Leone Bitcoin Network-SLBNet and founder of OnlinePromo an online marketing platform for African SMEs.
Tarlan Kornilov
Law partner, Cyprus
Founder of the Elite Consulting law company. Specialisation: capital hedging, international financial deals, organisation of international corporate collaboration. Has an LLM Cambridge University degree, Strategic Negotiations Yale School of Management certificate.
Yuri Myshinsky
Fund Relationships Executive
Ex Director of the Government Development Corporation of the Chuvash Republic. Expertised in fundraising dozens of millions of dollars for the infrastructure, financial and IT-projects. 15 years of experience in Business Consulting, fintech, fund and government relationships.
Evgeny Boev
GR partner
Executive manager at the Russian Union of Industrialists and Entrepreneurs committee on International Partnership. 6 years at Central Bank of Russia, illegal money traffic monitoring. More than a 10 years of GR experience in project finance and public communications.
Facebook
Bitshares RuDex, Graphene Lab
The team of Graphene evangelists and developers,
creators of the Bitshares RuDex exchange.
Developing blockchain-based apps.
Open Ledger, World's First Decentralized Exchange
Open Ledger is a decentralized conglomerate aiming to make ICOs mainstream. The OpenLedger ecosystem includes advertising, trading, blockchain talent, and ICO marketing subsidiaries dedicated to one goal: Crowdfunding the future of startup businesses.

Here are some of the most recent projects made with their partnership: ZenGold, FunCoin, Centz, Apptrade, and Beyond the Void. Open Ledger is an official partner of ViewFin, one of the largest Chinese blockchain funds.

Open Ledger will be the marketing partner for the Karma ITO campaign.
Blockchain-technology
The fastest and the most affordable solutions
Our blockchain is based on Graphene technology:
Max speed: up to 100 000 transactions per second (ETH — 30, BTC — 7).
Min cost: 0.02 USD (ETH — $1.5, BTC — $5).

Smart-contracts via Graphene plug-ins (like BitShares, Steem, Golos or Peerplays are built). HTTP-REST API for web-applications. Active ecosystem growth (EOS, OCASH).
dPOS-consensus.

Karma is an OpenSource-project.

Join Us:
Presale Completed
500k USD of 500k
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Our blog on Medium:
medium.com/@karma.project

Our Github repository:
github.com/goognin/karma
© Karma DAO, 2017

Fund spending responsibility:
Goodeast Consulting Ltd.
company number: 10596223
Suite 1, 5 Percy Street, Fitzrovia, London, United Kingdom, W1T 1DG

Photo by: Nathaniel Tetteh

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