Karma Weekly Report. 18–24 Sep 2017

Hello, dear friends!
Here’s our third weekly report.

Tanaka Takenori Sensei, Japan Karate Setoka iVice Chairman

What we've done:

• Mockups for the new website are done.
• Globally renovated white paper in Russian is done. Today we will refine some small issues and then it's time to sent the paper to the translation into 4 languages.
• Globally renovated 1-pager and presentation in Russian and English are done: 1-pager RU, 1-pager EN, presentation RU, presentation EN.
• Legal construction is done. Hooray! Our token sale will be 100% legal. Even US and China residents will be able to participate. We will be structured in Europe (Netherlands + Estonia). Our core company will be a non-profit fund, as we've planned before. Details revealed in white paper.
• Token sale process finally clarified. We will sell tokens directly from the OpenLedger exchange, and the exchange itself will be a "token buyer cabinet". That will be great, because users are already familiar with an exchanges interfaces, so our token sale will be as smooth as possible.
  We will open whitelist registration in the 1–2st of October, and close it at 26 of November. During that period people can smoothly proceed with KYC, token sale instructions, and upload the funds to the exchange. So the token sale participation will be like just buying a token at the market order book. At November 27–28 only whitelisted users could buy tokens from exchange. If there will be some tokens left, we will open the sale for the new members at November 29. All details of the token sale process have been put into the new whitepaper.
• Token economics is refined. So, from now, our token will have some fundamental growth sources. What we've added: all in-platform commissions will be paid in karma tokens. Considering 5–7% of all volume will be spent on commissions (distributed between all community members, who participated in deals as a scoring provider, insurer, guarantor etc), the demand on tokens will grow when total deals volume will grow. The token emission will be strictly limited by the top-15 delegates chamber. So, we will have one more growth source and, maybe, in future, we will have to make some extra emissions to make that growth less active (or the platform commissions will be downsized).
• Participated in Smile Expo's ICO Event in Moscow: that really expanded our network in crypto-world, not even in Russia.
• We've connected personally with 2 Russian, 1 US and 1 EU crypto-funds. Now we are refining our marketing details and packaging to start more deep conversations.
• We became the sponsor of one of the largest US blockchain conference: https://www.blockchain-expo.com (Silicon Valley, November 29–30).
  We will have a pitch session and a booth at the conference market.
• We've met the Tanaka Takenori Sensei, the Japan Karate Setoka Vice President. He provides Russian-Japan cultural interchange for more than 25 years at every level: from government to business and social responsibility projects. He's 76 years old, but his mind is clear and he is full of energy. Sensei liked our project and we hope we can integrate well into the Japanese business and government community.
• We created 1 new partnership with very strong and innovative scoring provider for the Asian region. There will be a press-release soon.
• Also we have 2 more international advisors and will soon present them to the public.
• Our Korean KAKAO community is constantly growing: +100 last week!

What we've spend

• 5.7k USD: conferences participation.
• 1k USD: expenditures for Korean business-trip at September 26–27.
• 0.5k USD: document translations and articles copywriting.

Welcome our new teammate!

Meet Evgeny Boev, our GR partner. He's an 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. His Facebook page: facebook.com/evgeny.boev.9

What's the plan for the next week:

• New strategic partnerships and international advisors to be connected, stay tuned.
• New website publication in RU and EN.
• New white paper publication in RU.
• Launch the UX-design creation process for the Karma DApp.
• Business trip to South Korea. We have to meet our community and explain our projects in details, so they will have a clear understanding of our idea.

Thank you very much for your attention!

Have a nice week :)