Social Kapital Blockchain Contracts 101

We have just released beta versions of Social Kapital contracts on github. These contracts contain the functionalities most users will be interested to know about at this time. For the benefit of those that do not understand solidity programming language, the diagram below is a good place to start learning how Social Kapital contracts work.

There are three key financial contracts at Social Kapital. The SOK Mint One contract mints all the coins and these minted coins are sent to the SOK Treasury One Contract. The only human method of moving coins out of SOK Treasury One is through shareholder voting.

The SOK ShareOne contract enables you to buy Florin(FLO) using Ether, as well as to exchange your Florin(FLO) for Ether. When you buy Florin, your Ether is sent to SOK Treasury One automatically. What this means is that nobody or persons have access to your Ether except shareholders.

You can also exchange your Florin for Ether by calling the SALE function in the SOK ShareOne contract. This transaction happens literally in minutes. There is no complicated or lengthy process you need to go through to exchange Florin for Ether.

If there is an investment to be made, shareholders vote on the investment proposal. If the proposal passes, the SOK TreasuryOne contract sends the funding amount to the multi-signature committee wallet specified in the proposal.