Welcome!

Koodaa Ltd.

EDIT: Thank you for your honest and valuable feedback everyone! We understand your desire for more information and due diligence, and will be spending the next weeks working on getting the formalities to the desired level. We will be back in a couple of weeks – stay tuned! :)


TL;DR

• Koodaa is a fintech application letting users start and manage their small business using their smartphone and/or computer
• Our aim is to support UK and Hong Kong as locations for entity formation
• Dash will be the sole cryptocurrency used on the platform. We are 100%
  willing to formally agree on this. (contact us for more details)
  
• We already have a user base of 1000-2000 users ready as soon as the application is released in Dec 2017 – January 2018.
  
• We are in talks with the Dash Core and Legal team to establish an escrow system, with further funding conditional on progress on the
  various milestones listed below
• If you have questions, email us at team@koodaa.com
• We appreciate your "Yes" vote!
  

OPPORTUNITIES TO LEARN MORE ABOUT KOODAA:
- CHECK OUT OUR WEBSITE AT KOODAA.COM
- JOIN KOODAA'S DISCORD CHANNEL HERE
- AMA @ REDDIT COMING NEXT WEEK!

NOTE: REGARDING ESCROW AND MILESTONES, WE ARE IN TALKS WITH DASH LEGAL TEAM TO ORGANIZE THIS! IF YOU HAVE SUGGESTIONS FOR THIS, PLEASE CONTACT US AT TEAM@KOODAA.COM :)

Hello Dash community,

We are Koodaa, a London-based financial technology company with the aim of empowering anyone to start their own legal business entity in the UK/Hong Kong, and easily manage it using a simple desktop/smartphone application.

Overview of functionality

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.

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.

Instantly send and 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.

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

The total funding we are requesting is 708 DASH. This amount is calculated based on a DASH/USD price of $300 (late Oct before the price spike). In addition, we request the one-time repayment of the 5 DASH proposal fee.
The amount is broken down to monthly payments as follows

• One-time refund of 5 DASH proposal fee
  
• Salaries for team of 7: 87 DASH (approx. $26000)
  
• Business expenses (flights, conference tickets): 7 DASH ($2100)
  
• Marketing expenses (e.g. social media / content creation): 10 DASH ($3000)
  
• User giveaways 9 DASH ($2700)
  
• Legal advice 5 DASH ($1500)
  

Total = (87 + 7 + 10 + 9 + 5)*6 = 708 DASH.

Development Roadmap

Below is a 6 month roadmap, along with development milestones we agree to meet each month. The milestones act as a "gatekeeper", and future funding will be conditional on meeting the milestones. Our general app launch is expected in January 2018.

Nov 2017

1. User onboarding for sole traders
   
2. Invoices and estimates
   
3. Expense management: capture of bills and receipts for automated processing (OCR with human verification)
   
4. Reporting: categorized reporting of income and expense, transaction details
   

Supported platforms: Android, iOS

Dec 2017

1. Companies House API integration to setup and manage UK Limited Company entities
   
2. Wiring up Bill and Receipt images with Human Verification process, returning data to server
   
3. Notifications
   
4. Updated invoice HTML rendering
   
5. Mailer for invoice (send) and bill (receive)
   
6. Double entry accounting
   
7. 2FA for onboarding and payment initiation
   

Supported platform: iOS, Android

Jan 2018

1. New user KYC w/ human verification (OCR for government issued IDs and selfies w/ human verification)
   

Supported platform: iOS, Android, Mac, Windows

Feb 2018

1. [b]Fire.com[/b] registration through new Fire APIs
   
2. In-app payment initiation (fiat only)
   
3. Stripe payment support with connect
   

Supported platform: iOS (iPhone, Apple watch), Android, Mac, Windows

March 2018

1. Full support for DASH in Koodaa’s accounting services
   
2. Fiat crypto gateway
   
3. Dash Wallet
   
4. Dash Currency: Dash as a first-class citizen on Koodaa (payments, reporting, services, invoices and estimates)
   

Supported platform: iOS (iPhone, Apple watch), Android, Mac, Window

April 2018

1. P2P invoice financing marketplace (DASH only)
   
2. Instant Cash-out (beta - for qualified users)
   
3. Support for additional fiat neo banks
   
4. Support for HK entities
   
5. Possible HMRC (UK tax authority) API integration for automated taxes
   

Supported platform: iOS (iPhone, Apple watch, iPad), Android, Mac, Windows

What's in it for the Dash community?

First and foremost, Koodaa represents a crucial case of adoption for Dash in terms of expanding the potential services where Dash can be used as a first-class citizen.

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

Escrow and accountability

As mentioned above, meeting the development milestones will act as an incentive and necessary condition for future funding. To implement this, we intend to utilize a trusted third party as an escrow agent, who will hold the funds and release them to us as appropriate. We have begun talks with the Dash Core Development and Legal team in order to facilitate this. If there are other options for implementing escrow, we would be very interested to hear your suggestions.