[Review] Koala's Life

tuthienloc (49)in #review • 6 years ago

Hello everyone. This is my next review about a credit ecosystem based on blockchain. This project aims to launch a Dapp call “Koala’s Life” which creates a world of credit including community channel, data mining, credit data, trading market, … Let’s start it.

What is Koala’s Life

Koala’s Life is a decentralized application (Dapp) which enhances user’s ability in utilizing credit by solving the problems of collecting and circulating data as well as acquiring new users who are loyal with traditional credit services.

Koala’s Life Dapp is defined as “the passport and key connector of future life, determining to a one-stop decentralized service to reconstruct credit life.” [1]

Advantages of Koala’s Life

Security and Convenience

Thanks to blockchain technology, all data of users will be stored and secured. Users just have to sign up one time then they can access to multiple credit services with this data information, no more registrations required.

Under control and Independence

Data authorization is always under owner’s control. Only user’s own data can change their information as well as utilize for payment. The right assets are able to be confirmed and achieve on blockchain.

Transparency and Unbreakable

As we know, all data is transparent and unbreakable in blockchain. It means that companies are able to trust this data and offer services to users in this platform. The companies can analyze this data to decide who are potential and loyal customers.

Features of Koala’s Life

Data mining

This is a unique feature of Koala’s Life Dapp. When a data’s authorization is established then a block of identity is created. Reward of block mining will award to miners as an offset of energy consuming. The more kinds of data are authorized, the higher power is consumed, the higher prize is awarded.

KYC — Know Your Customers

KYC is a process which allows company to verify user’s identity in real world. KYC verification is prerequisite to be a part of Koala’s Life family.

Credit center

Credit center is as an ecosystem of credit life which contains all operations, behaviors and authorizations of users.

Koala’s Life wallet

Koala’s Life wallet is as common wallet on mobile which offers services to users such as transfer, query and management. Furthermore, Koala’s Life wallet will be able to store multiple coins and tokens as well as bind to bank card.

Transparent data

As I mentioned in advantages, all data is transparent thanks to blockchain thus data from users of Koala’s Life will be able to accepted without the financial institutions. This will help both users and companies to reduce the waste of time and money.

Koala’s Life ecosystem

Credit loan

Users do not spend too much time to verify themselves to lend from financial companies now. Because all credit information of users is transparent, accurate and trackable then companies are able to verify easily.

Financial services

Koala’s Life will provide users many financial services as financing, investment, insurance of crypto assets, …

In addition, Koala’s Life will protect users by verifying borrowers before making the transactions. People is no passing KYC, auditing error, moral hazard will be disqualified to keep user’s assets safe.

Community services

Koala’s Life is not only an crypto credit ecosystem but also a social community. Through Koala’s Life Dapp, users can play games as well as chat with friends, family, even dating.

Koala Mall is also established for all users of ecosystem. Users can use Koala token to exchange as well as make payment in Koala Mall.

Future vision

Koala’s Life team will support more dimensional data authorization and offer more application cases of data. In addition to offer more services for Koala’s Life ecosystem.