Kolin will be the principal transaction asset exchanged within the Kolinplatform, which in turn will become the first decentralised centre for translation and information exchange.
Any user will be able to upload a file into the Platform and will have the option to either pay for a private translation service or offer this file to volunteers that will be rewarded for their public translation.
As Kolin’s principal goal is to ease access to Education, multilingual and open technical material will be generated within a social branch of the platform, making them access free and available for everyone thirsts for information. The platform’s social branch will allow any person to register and help with the translation of information from a technical to a more generic language, allowing common users to have access to technical knowledge in a more understandable format. Volunteers working on the Kolin social branch will be rewarded with the Kolin asset for their work.
Kolin will become the leader cryptocurrency with a peer-to-peer integrated payment that will allow people from different nationalities and education levels to interact, share knowledge and make business without an actual language barrier. A maximum 8bn Kolin were created referring to 1 coin per current inhabitant.
Hence, helping people worldwide and specifically lost minds that want to innovate, create and invent new approaches for helping this world to be better.
The Platform will start with the three most spoken languages (Chinese, Spanish and English) and will be further expanded regarding the UN standards to include Hindi, Arabic, Portuguese, Russian, French, German and Japanese.
8 bn Kolin tokens were issued and each of them can be decomposed in a 2-decimal format. Each worldwide inhabitant will have the opportunity to have access to at least one Kolin, that in a future will allow paying for a translation of 100 words into any language of preference. Therefore, Kolin’s economic goal is to achieve a translation cost of 0.01 Kolin per translated word (generic translation) and 0.02 - 0.05 Kolin for more technical works*. Private translations will be more expensive and price adjusted according to a previous difficulty evaluation.
*Translation cost will be initially adjusted regarding market fluctuations until reach this estimated price.