This is not going to be a trivial exercise, but we will all get there. Let's start the discussion on exactly how, and timescales. It will be a 1:1 swop for all KOBO holders. I will be aided by the guys at Bitsoko for this operation. Nobody will miss out. Long term community members who might miss this announcement will NOT be left behind and will NOT lose their allocation.
I want to maintain the following features
- Initial supply will be the same as current circulating supply (24.7m or 25m to round it off - extra kobo will be used for initial merchant purchases)
- PoS 10% growth per annum (negotiable)
- Max coins still set to 350,000,000 (negotiable)
WHY?
- Bitsoko will be using Kobocoins as a retail loyalty scheme to offer a replacement for an already existing Kenyan retail loyalty scheme, which is VERY popular (see working prototype screenshots below).
- Moving to the ETH blockchain means NO MORE SYNCING ISSUES! We will also be on the more secured ETH blockchain (hurrah!).
- It makes development of Kobo applications quicker and also open to a LOT more developers who are now fluent in Solidity.
- Access to Smart Contract technology on the ETH platform.
- Faster mobile development for interested parties.
- Kobocoin and Bitsoko will become closer partners. Bitsoko are very experienced ETH developers. Kobocoin will effectively no longer be a one man band (me!).
Kobocoin needs to evolve and move forward, and move forward before anyone attempts to usurp our position in the market. My recent trip to Kenya showed me just how much Kobocoin is now respected in Africa. The reception Kobo got from many different sectors was amazing and Bitsoko are very excited for the opportunity to use Kobo in Kenya. Once established it will also be rolled out to Nigeria, Ghana, South Africa and others as it grows.
Below are some screenshots of the Kobocoin merchant application that Bitsoko have developed. Kobo will initially be used for retail loyalty reward points. Merchants will purchase Kobocoins (from the merchant wallets) to reward customers (who will have their own wallets). Reward points are VERY popular in Kenya and Bitsoko have already started signing up merchants to use Kobo for this purpose.
1. Merchants will buy Kobo directly from their Mobile Merchant wallets to use as rewards for their customers. This image shows Kobo value in Kenya Shilling (KES). The mobile wallets will show Kobo currency conversion for the nation in which the wallet is being used.
2. Mechant Kobo wallet showing value in Nigerian Naira (NGN)
3. Customizable merchant wallet (shot 1)
4. Customizable merchant wallet (shot 2)
These images are from a working prototype. The Kobocoin and Bitsoko branding will be used in the final product. Test tokens on the ETH blockchain have been used to test the functionality.
Let me hear your thoughts on this. I'm sure there will be some real challenges, but as I said, we will ALL get there!
This is the start of the next chapter in the evolution of Kobocoin. Thanks for your faith and patience!
TT