[PRE-PROPOSAL] Koodaa: Start, manage and finance your SME with Dash.

Do you want to help people start, manage and finance their business using Dash?

  • Yes

    Votes: 3 75.0%
  • No

    Votes: 1 25.0%

  • Total voters
    4

koodaa

New Member
Nov 7, 2017
4
2
3
42
Hello Dash folks,

We are Koodaa, a London-based financial technology startup aiming to make it tremendously easy to start and manage a business using only your smartphone, and ensure sufficient liquidity despite long invoice payout cycles.

Our main product is a mobile/web application which allows the user to (i) start a UK sole trader entity, (ii) handle all billing/invoicing/accounting (i.e. the so-called "back-office") related to the business, and (iii) obtain instantaneous liquidity through invoice financing which also happens on our platform.

We intend to enable users to not only use the application via fiat currency, but cryptocurrency as well. To this end, we have settled on Dash as the perfect candidate – it is the "digital cash" after all. In order to sustain a healthy application development lifecycle, we are requesting monthly funding out of the Dash community pool.

Our application is set to launch by the end of November 2017. Take a look at our proposal below, and be sure to check back for images & other edits later. Also check out our website at koodaa dot com.

Thanks a lot, and have a great week!
Koodaa Team

--------------------------------------------------------------------------------------------------------------------------------

Koodaa Ltd.


Your SME as a service. Entity formation, real-time bookkeeping,
and one-click invoice financing. All in one app,
powered by Dash.

Executive summary

In the sense of functioning as “digital cash”, Dash has achieved tremendous success as an alternative to Bitcoin and other cryptocurrencies. Unlike Bitcoin, Dash contains several features such as instantaneous, low-fee transactions that make it ideal for being used as a medium of exchange for goods and services, and not an investment. However, this has not taken place in practice: rather than using Dash directly, most users exchange another medium (such as fiat) for Dash, which they then proceed to hold like an investment asset. As a consequence, Dash slowly drifts away from its original purpose of functioning like a cash-like financial instrument, and becomes more like a store of value.

We at Koodaa believe that this development can be countered with widespread adoption and incentivization of use, which is precisely why we aim to integrate Dash as the main currency of our mobile and web applications. Koodaa is the first application that empowers its users to start and manage a business, take care of all its day-to-day operations for free, as well as easily obtain short-term financing to ensure proper liquidity and cash flow.

By having Dash as the main currency of the platform, we strive to do our part in pushing cryptocurrencies to the mainstream, in a way that enables Dash to be used in real life, for all kinds of purposes and purchases. With Koodaa, entrepreneurs can pay their business expenses in Dash, receive incoming fiat payments as Dash, and generally take care of all their company finances -- including tax payments -- simply using their Dash wallet and balance. In addition, legal, tax and accounting professionals are available via chat and phone at all times – services for which the entrepreneur may pay with their cryptocurrency.

We also firmly believe that the integration of Dash benefits all users of the application, regardless of their level of familiarity with cryptocurrencies. For instance, by using Koodaa and Dash, entrepreneurs are freed from the complex system of legacy banks, and all the bureaucracy/regulation associated with it. With Dash, transactions are peer-to-peer, so a third party (such as a bank) trying to reverse transactions or freeze accounts is an impossibility. Further, by using Dash for invoice financing, the entrepreneur can obtain much-needed liquidity instantly, instead of having to wait at least 24 hours, as is the case with conventional, fiat-based invoice financing service providers. This shortens the payment cycle drastically, cutting average payout times from 30-90 days to mere seconds.

Overview of Koodaa platform

Koodaa Mobile & Web


Start your small business from anywhere. Quick, easy, remote, and paperless.

With Koodaa, users can start a Hong Kong / UK based limited company completely remotely, and benefit from the liability protection, ease of tax filing, and added professionalism that an incorporated legal entity brings compared to sole trader status.

[img here]

Automate bills, invoices and bookkeeping with Koodaa at no cost
With Koodaa, all headache-causing and tedious back office tasks are automated and fully taken care of. Bookkeeping happens automatically as you spend. To log expenses, simply take a receipt with your smartphone. Send invoices, categorize transactions – all with one tap. Your company data is safe in distributed cloud storage that leverages IPFS.

[img here]

Koodaa Pay & Loans

Instantly send & receive money across borders

By integrating Dash, Koodaa enables its users to transact across borders instantaneously and without the complexity of international banking. All user accounts are funded using Dash, and the Dash is used as the sole cryptocurrency within the Koodaa ecosystem.

[img here]

To interface with parties using fiat currency, Koodaa provides its users with a prepaid debit card, which the users top up using Dash. To receive payments in fiat, Koodaa users use their Dash wallet like a checking account, and customers simply send money to Koodaa Ltd.

Cut your payment cycle from months to seconds
Koodaa also leverages Dash to enable users to cash out their pending invoices and other receivables instantly using Dash’s InstantSend technology. With a single tap, a user may take advantage of Koodaa’s invoice financing, and cash out up to 90% of their outstanding receivable, ensuring sufficient liquidity for their life/business, instead of being at the mercy of their customers.

Requested funding
In total, we are requesting 810 DASH, representing 6 months of operational funding from the Dash community funding pool. The funding will be used to fund our app development process, and to bridge the gap between the current state of the project and its eventual outlook.
  • Total amount: 810 DASH + 5 DASH
  • No. of payouts: 6
  • Monthly amount: 135 DASH / month, or $35,000 USD / month
    • 1 DASH valued at $260 (similar to Dash developer team)
  • Monthly funding allocation
  • Salaries for team of 7: 100 DASH ($26,000 USD)
  • Business expenses (e.g. flights, conference tickets): 8 DASH ($2080)
  • Marketing expenses (e.g. social media / content creation): 12 DASH ($3120)
  • User giveaways 10 DASH ($2600)
  • Legal advice 5 DASH ($1300)

Roadmap – the next 6 months


Over the next 6 months, that is, between November 2017 and May 2018, we aim to reach multiple milestones and accomplish several goals, both technical and non-technical in nature.

In chief, we will be focusing our native mobile and web applications, the former of which, as of 11/06/2017, is approximately 4-6 weeks from beta stage. The beta version will include all free content of the app, and demonstrates the functionality of entity formation and SME management to the user. The paid invoice financing feature is scheduled to be complete by May 2018, subject to appropriate legal climate and a suitable jurisdiction.

Specific action items
  • KYC: first integrate trusted 3rd party solution, then move to a blockchain alternative
  • Financials: Dash wallet integration in addition to fire.com banking API
  • Financials: Obtain debit card partnership, first with card provider, before seeking card issuer status
  • R&D / Loans: Implement credit scoring logic using machine learning
  • Licensing: lending license, invoice financing license, crowdfunding license
  • Legal: Hire knowledgeable lawyers both re: cryptocurrency and international business law
What’s in it for the Dash community?

Recap the direct advantages to the Dash community resulting from this project, and reasons to back it.

First and foremost, Koodaa represents a crucial case of adoption for Dash in terms of expanding the potential services where the cryptocurrency is / can be used.

Koodaa is also a vital improvement for Dash enthusiasts, beyond mere “hype value”. Dash holders are now able to incorporate in a legally binding way, and conduct business solely in Dash, without having to make any crypto-to-fiat conversions themselves.

Koodaa is, essentially, free marketing for Dash. We believe that the Koodaa platform, when combined with Dash, can organically make non-crypto users aware of the cryptocurrency space as a whole. We plan to accelerate this via monetary incentivization, such as free Dash giveaways to first-time wallet users.

Transparency & accountability

As a key tenet of our fundraising and operating strategy, we aim to be fully transparent throughout the development process over the next 6 months and beyond.

In particular, we aim to make our Dash addresses and other finances pertaining to the raised money fully auditable. Our financial performance will be viewable at [link removed]
 

Stealth923

Well-known Member
Foundation Member
Mar 9, 2014
352
404
233
Thanks for the proposal - I havent had a chance to read it in detail yet, but for the money you are requesting there is NO way this will be approved without milestone based payments and escrow of the funds by a trusted 3rd party.
 
  • Like
Reactions: Schnuppdog

Leonidas

Active Member
Oct 22, 2016
395
142
113

GrandMasterDash

Grizzled Member
Masternode Owner/Operator
Jul 12, 2015
2,909
1,110
1,183
Assuming it passes due diligence, this is a huge opportunity for dash.
 

Name3

Member
Jun 23, 2017
126
40
78
Thanks for your Pre-proposal. There are a few things that I would request you change to get my vote. First, because you are an known entity within the Dash ecosystem you need some type of escrow provider that releases the funds to you as development milestones are reached. You can talk to the Core team or Greencandle for that. Secondly, you need to incorporate the aforementioned milestones so we can see genuine progress in the project. Finally, you need to commit to an exclusivity agreement that you will not add other cryptocurrencies to your platform for a given amount of time (usually 36 months after the last funding is received).

If you can do those things than you have my vote!
 
  • Like
Reactions: Pietro Speroni

koodaa

New Member
Nov 7, 2017
4
2
3
42
Hi everyone! Thanks for the feedback and suggestions regarding exclusivity agreements and milestones. We're completely open to using 3rd party escrow, and will research that option as well. Keep your thoughts and questions coming, we will be updating more shortly. :)
 

koodaa

New Member
Nov 7, 2017
4
2
3
42
Hello everyone!

Please see our proposal over at DashCentral and vote Yes!

Additionally, don't hesitate to send us your questions!
You can check out our website at koodaa (dot) com and join our Discord channel here: discord.gg [slash] WQed8rY

Lastly, stay tuned for a Reddit AMA very soon!

We appreciate your "Yes" vote!

Best wishes
Team Koodaa
 

Schnuppdog

Member
Jun 27, 2016
43
22
48
45
Austria
Dash Address
TIROL
Voting no no Preproposal for dicussion in advance (4 Days are way to short), no Video with your faces, no escrow and 6 month is to long for a non know person/firm