Korporatio’s Monthly Recap: May 2019

Welcome to our May update!

Korporatio aims to create a new generation of cutting edge, truly global businesses, led by entrepreneurs who are citizens of the world. A new era in which everyone is empowered to incorporate, innovate and realise their dreams.

GENERAL

May has been a month in which Korporatio has seen quite a few changes in the way we approach our business and our growth. We have received great feedback from our community as well as different stakeholders, and to prepare for our next phase, we have tested some of the suggestions we got.

DEVELOPMENT

We have been working hard to release our new version update. At the time of writing this article we are still running tests, so the new version is not yet live. However, in respect of our internal deadline, you can test our new dashboard here. Please remember, to use a dApp you need to have Metamask installed.

As mentioned in our previous monthly update, this new version brings a lot of features we believe will make the UX much better. Owners and agents can now update documents directly to the dashboard. This makes the dashboard the center of your company. No need to save documents on your computer, text the agent or be careful about keeping them safe. You need a document? It will be always available on your dashboard.

Automated tracking on financials

Another important feature is related to the company financials. If you work in accounting and with cryptos, you already know what a nightmare it is to write all operational transactions in the books. Well, how does it sound to have automated tracking of in/out operations to both your ETH and BTC corporate wallet? And as always through our solution, all information will be  there, updated in real-time and available to any shareholder. Or maybe you invested in a startup and didn’t receive your monthly report? No worries, you can see exactly how the money is spent. Or how about needing to run due diligence on a specific company? Once again, everything is transparent to all shareholders.

Shares transfer through an escrow 

Third feature represents a solid improvement in the shares transfer. Currently, if you want to transfer shares to another shareholder, you can only do it at the time of the actual transfer being executed. This means: you select the shareholder you want to transfer your shares to, and those shares get transferred to the user immediately.

Let’s move a step further. From now on, you can place requests to receive or transfer shares to other shareholders even before there is an agreement in place. The actual transfer will happen only once the funds are transferred to the same smart contract, and the swap will happen automatically. In other words, smart contracts are being used as an escrow, third-party holder, to buffer timing and agreements, before making the final executing the official transaction.

Communications channel

Last, but not least, Korporatio dashboard can also be used as a proper communication tool. In the new dashboard you will be able to ask questions directly from  the technical team (Korporatio) or the incorporation agent. The model also works the other way around. The agent can message you to let you know your government fees are coming, or to let you know there is a document that requires a signature, for instance.

We have delivered a solid amount of features over these past months, but we are just at the beginning. Our summer roadmap is being developed these days, and we want to improve the model even more.

 

KORPORATIO OPERATIONS

We don’t always add this section in the monthly recap but this time it is a must-have. Our workflow has been adjusted a lot based on the experience that has matured during these months.

The collection of information to set up a Smart Company has moved from a downloadable word file to a simple online  form. We will soon move this to our website in order to transfer the info directly to the agents. This will save even more time in the incorporation process.

We also want to start accepting credit/debit cards to pay for Smart Companies. Unfortunately it will still take a bit of time. The problem is that merchant solutions are not very popular for companies based in Seychelles, neither Paypal or Stripe works in the country. So if  you are aware of a solution, please let us know! Otherwise we will start providing it as soon as we open in a jurisdiction supported by them.

As we are expanding, we are also customising the platform to each new jurisdiction. In the upcoming months we will also add more information on Smart Company pros and cons in each country on our website. Our goal is to provide Smart Companies for everyone. Therefore, the place you set it up should be completely up to you.

KORPORATIO MARKETING

Every month seems to bring a different marketing approach. This time, I think May is the ‘camera month’. I had the pleasure to run a video interview with Scott Cunningham. If you don’t know the guy, feel free to show some love and follow him on Steemit. On top of that, I’ve been spending a solid 4 days with a cameraman following me basically everywhere I was going. Can’t share what all of this is about yet, but it was for sure one of the weirdest things ever. To all the people that are vlogging, I need to pay a lot of respect! I ended up playing some darts with friends, and having a camera next to me all of the time was certainly a unique experience.

As usual, if you want to chat, join our Korporatio Discord or send us an email at future@korporatio.com.