Proposal “koodaa“ (Closed)Back

Title:Koodaa – Start and Manage your Small Business with Dash!
Owner:koodaa
Monthly amount: 118 DASH (3044 USD)
Completed payments: no payments occurred yet (6 month remaining)
Payment start/end: 2017-11-18 / 2018-05-16 (added on 2017-11-25)
Final voting deadline: in passed
Votes: 50 Yes / 385 No / 49 Abstain

Proposal description

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.    

Show full description ...

Discussion: Should we fund this proposal?

Submit comment
 
0 points,6 years ago
NO
Reply
0 points,6 years ago
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! :)
Reply
0 points,6 years ago
Not convinced. Need more info about the business core. Vote NO.
Reply
0 points,6 years ago
Hi there, lmcarambei, and thanks for your feedback! As mentioned in the update, we will work on getting more informational material out in the next month, and return with a proposal backed with more core business information next month! Thanks for reading – stay tuned!
Reply
0 points,6 years ago
i dont see how this proposal helps dash in anyway
Reply
0 points,6 years ago
Hi dashmaximalist! First off, thank you for voicing your opinion on this! From our point of view, Koodaa helps Dash by introducing another use case for the currency, and enabling Dash holders to interact with the non-crypto world without going through an intermediary like Bitcoin. We also want to bolster Dash's position as a first-class citizen in the crypto world by using it as our cryptocurrency, and thereby converting users to directly using Dash, instead of having to first learn about Bitcoin etc, and then stumble upon Dash later.

However, we understand the need for more due diligence, and will be back next month with a more thorough proposal, and hopefully an exclusivity/escrow agreement with the Core team!
Reply
2 points,6 years ago
Not enough info and not enough time for the community to real dive deep into this proposal. Voting no for now, hope to see a new proposal next month that has escrow/exclusivity agreements with the Core team.
Reply
1 point,6 years ago
Hi GCeleveland, and thanks for speaking your mind openly! We appreciate the feedback, and will be returning next month with a more complete proposal, and an escrow/exclusivity solution with the Core team! We hope we can earn your trust then! Best, Team Koodaa
Reply
0 points,6 years ago
My thoughts precisely.
Reply
0 points,6 years ago
Voting No at this stage
Reply
0 points,6 years ago
Hello Koodaa, I liked very much reading the plan. I hope there is enough time to arrange escrow and exclusivity agreements, and for others to evaluate as well. A personal presentation would be very nice to.

Regards,
Paul
Reply
1 point,6 years ago
Hi there paulkuit! Thank you for your nice feedback. We will take all this into consideration and will be back next month with an updated proposal and an escrow/due diligence solution. We will also strive to finalize an exclusivity solution with the Core team.

Thanks again for your time – stay tuned!
Team Koodaa
Reply
1 point,6 years ago
If you've already submitted the proposal, and haven't worked out the escrow yet, it's impossible to facilitate that because the proposal payout address is permanent.
Reply
0 points,6 years ago
Hi TroyDASH and thanks for your message and the great point you've made!

We want to be transparent about the fact that we're more than willing to send received funds to a Dash Team controlled wallet / other escrow solution if that would please the community better.

So far, we've attempted to contact both the Dash developers, who referred us to the Legal Team (specifically Fernando) but unfortunately we did not receive a response. Because of this, we decided to submit a proposal to not be late for this funding cycle.

If there are any further things we can clear up we'd be happy to chat here or per email. You can reach us at team@koodaa.com.

- Team Koodaa
Reply
3 points,6 years ago
Sorry not enough time to evaluate, and with no escrow address its instant no.
Happy for you to submit pre-proposal on dash forums to evaluate for next month.
Reply
0 points,6 years ago
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
Reply
0 points,6 years ago
Hi Schnuppdog! Thanks for your candid feedback. We definitely understand your sentiment regarding the short time frame and due diligence/escrow. We will work hard for the next month on implementing a solution to these problems and will return with a more detailed proposal for the next funding round. Stay tuned :) –Team Koodaa
Reply
0 points,6 years ago
Hey koodaa,
Solid business integrations are needed. So I always look deeper into proposals that fit this category.
I did as written in your proposal-text : "To learn more about kooda - check out our website at kooda.com".
All the content of your website is: "
Company as a Service
Real-time bookkeeping. Pay or finance bills with a tap. Cash-out pending invoices instantly. "
Plus one link with a mailto (for investors) and a signup for a newsletter.
There is no information at all.

In your proposal-text your write: "We are in talks with the Dash Core and Legal team to establish ....."
In your answer to TroyDASH you write: "So far, we've attempted to contact both the Dash developers, who referred us to the Legal Team (specifically Fernando) but unfortunately we did not receive a response."
You can see how these two statements contradict each other.
I am afraid you have not made the point to convince me you are a trustworthy team of guys that actually plans on delivering.
Reply
0 points,6 years ago
Hi kbu66, and thanks for your feedback! We appreciate the concerns you voiced and will work hard over the next month to address everything from application demos to escrow and milestones/transparency. We truly believe great things are possible by partnering with the Dash community, so expect another more detailed proposal from us next month! We will do our best to finalize the escrow and exclusivity agreements by then! Best, Team Koodaa
Reply