What types of businesses do you see being hosted and working in partnership with KOY Network?

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    neopch

    Published on Dec 29, 2023
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    Just to give an idea of how I visualize it you know we have so many gaps in Africa that KOY Networks infrastructure definitely meets so I'll give you an example of a charity if you're dealing with charities right one of the challenges you have let's say your charity provides a universal basic income model alright and I think that you've heard of these kinds of charities that give out a basic income you know to see what differences that make in a village economy so let's assume your charity wants to do that but also track how that money is spent because you know if you just send the money they can spend it any how they want okay you want to be sure that, that money is spent specifically for grains cereals, cooking oil and so on you'll go to the merchant and you will tell them listen I'm going to do vouchers for your goods any person with one of my vouchers comes to your shop just sell them the goods and you will get paid and the vendors like what? okay I don't want it in funny money I don't want I don't want it in crypto I want it in Kenya shillings, okay? so if they come here and they want to buy something your voucher better give me in Kenya shillings and you're like okay I can do that so the KOY Network approach is to allow the charity set aside that fund and also generate vouchers and send those vouchers to individual wallets when that voucher is redeemed at the merchant till, the merchant receives it in the local currency of choice talking about the voucher system and how it would work because of the way we have designed KOY we should be able to allow people to receive funds in the local currency and that's a very key element which matters a lot it reduces the friction reduces barriers to entry to blockchain for people who have no background in the technology or knowledge and I think that's very critical for KOY

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