Korona Coin ICO

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KORONA ECOSYSTEM
I. Executive summary
The advent of the internet has made banks and other financial institutions
reconsider their value propositions, but further shifts in the financial
landscape run deeper than the mere introduction of online banking, e-
commerce or mobile payments. Decentralization has democratized
information by enabling an instant flow of any media content, value exchange,
at practically no cost.
The most radical example of taking decentralization to the next level is distributed ledger technology.
Currently, the prevalent way of transferring value in financial systems and e-commerce still relies on
clearing houses and intermediary banks. Central ledgers are also kept to record all transactions. In a
decentralized system, there may be many decentralized intermediaries keeping copies of transactions
in their own ledgers. In a distributed ledger system, there are no intermediaries, but a single
distributed ledger which is updated across...

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The Cambridge study estimates around 35 million (2013 - 8,2 million) active cryptowallets Worldwide.
Approximately one third of these wallets are active and being used by appr. 6 million people. The
whole cryptoindustry employs ca. 2000 people, which is basically negligible in statistics if it is
compared to the number of employees in the global banking sector. Considering all crypto-based
transactions only 6% are being performed between cryptocurrencies
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.
There is an enormous global potential for a rapid, second cryptoeconomic boom, however there
are also numerous bottlenecks for removal beforehand.
Currently most of the already existing blockchain service providers focus, or intend to focus in the
future on particular tasks and problems, thus
providing benefits and solutions to a particular
segment of the society
. Ordinary users continue to remain excluded from the existing token
economy. Merchants and customers remain uninformed on t...

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KORONA ECOSYSTEM
Regionality – Tailor-Made Solutions
There is no universal solution for eliminating existing market bottlenecks, nor is there an universal
way to inform and support businesses and customers everywhere. Behaviors, cultures, regulations
are different in each region. As a result, tailor-made solutions are needed which focus on regional
economic and social particularities, opportunities and challenges.
As a
Swiss Foundation under transparent and reliable Swiss Law
, with strong European roots the
Korona Project market building activity focuses clearly on the
territory of the European Union
. It will
provide unique blockchain based solutions specifically for this region, though many of the services
and applications can be
extended overseas
. The regulatory framework in the EU is reasonable. Also,
the area is very active in developing cryptobased payment systems and connected services - though
in most cases only ...

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KORONA ECOSYSTEM
II. Introducing a brand new integrated payment
framework
E-commerce sales volumes and digital payments are hitting new records worldwide, year over year.
This trend is expected to continue uninterrupted. Parallel to that, the capitalization of the crypto
economy is also setting record highs year over year. Yet still significance grows in the financial
sector, the crypto-economy remains barely connected directly to the regional or global commerce
activities and to the widely used customer targeted digital payment systems. To evolve decentralized
payment mechanism in e-commerce, and in general commerce and trading activities directly,
a user
friendly, effective and regulatory compliant crypto payment frameworks and complex
ecosystems are needed.
Payment systems for e-commerce retailers
In order to provide the
necessary link between e-commerce stores and cryptocurrency
payments
the Korona framework will include a

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When equipping online stores with the Korona digital payment platform customers and stores will
benefit from the advantages of decentralized payment technologies. Transfers will be fast enough,
but costs will remain limited.
The Korona digital payment platform will provide a simple and user-friendly API.
Connecting local SME businesses to e-commerce and Korona payments
Even though e-commerce is booming, there is a significant percentage of local small- and medium
sized
enterprises
(SMEs)
that are not, or not directly connected to an e-commerce store
due to a
relatively high - or rather thought-to-be high - cost, and to the lack of knowledge and information.
The Korona Ecosystem will provide a
modern, freely accessible and usable webstore platform
frame
, that can be accessed and used by any local business to perform e-commerce activities.
Certain initial IT support will be also provided to SME when creating their platform...

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KORONA ECOSYSTEM
Bringing extra value for users with price-comparing feature
After building up the online integrated market place, the Korona Market, we will add a
special price
comparison feature to enable users to compare and purchase the same, or similar products and
services cheaper
- if needed from other countries, using drop shipping.
It is an international trend, but it can be clearly seen even within the European Union, that
multinational companies and/or international retailers charge clients differently for the same goods in
various countries. The same homecare products cost less in Germany than in Switzerland, or nutrition
or medical goods cost less in Poland than in Germany. In our experience the difference may reach up
to 40%. Also, for some goods temporary price actions occur in some EU Member States, while the
original prices are kept in other countries. Differences were witnessed in a range of 10-35%. Even
larger differences arise in cas...

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FREE TOKEN REWARDS
FRAUD PROTECTION
Token users will receive free token rewards
. As an
incentive, but also as reward, Korona token users will
receive bonuses in form of Korona tokens based on their
usage of the digital payment system. Yearly,
50% of the
post ICO distributed Tokens will be allocated for free
for our users
- please see Token Distribution.
Protecting clients from frauds.
To protect customers,
but to also provide security to e-commerce stores, a new
feature will be designed to
safeguard not only the
transactions
,
but also the deliveries
. The client’s
payment will be transferred and safely held until the
transaction has been “validated”. The stores will have the
possibility to decide whether to secure the reserve in
Korona tokens or in local fiat. The validation period varies
across vendors. This proprietary process
protects
client...

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KORONA ECOSYSTEM
In order to receive crypto-payments, the merchants will simply place a screen (either on a
smartphone or on a tablet) with a QR code next to their cashier, and the Korona users by using the QR
code on the merchant’s screen will be able to easily effect payments for the selected goods. For the
highest possible transparency, before confirming a payment, the Korona users will be provided with
the actual exchange rate and the transaction details both in local fiat and in Korona tokens.
Introducing lightning based solutions in Korona token transfers
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The Korona Ecosystem will be
equipped with the best available transfer technology.
Instant Payments.
Lightning-based payments without worrying about block confirmation times.
Security is enforced by blockchain smart-contracts without creating an on-blockchain transaction for
individual payments. Payment speed measured in milliseconds to seconds.
Scalability.
Capable of millions...