KAYA Network is the brainchild of LATTICE80. Their vision is to globally connect fintech and blockchain companies, corporates, financial institutions, governments and the general public in more than 200 cities across the world. It is worth noting that the network has a database of over 11,000 companies, and its token – KAYA token, is a utility token meant to be used within the network, in exchange for the services offered by their parent company, partners and members of the network.
As earlier stated, Kaya Network is run by LATTICE80. Other segments off the KAYA network includes MISS KAYA (which is aimed at empowering and providing financial services for women), Impact Blockchain (a blockchain for the United Nations sustainable development goals, SDGs), and an ICO & Exchange Platform(investors can have access to exclusive deals, while startups can raise funding via the platform).
LATTICE80 is a global fintech hub which boasts of connecting more than ten thousand startups, investors, fintech, FIs, international organizations, and government agencies. As part of their milestones and accomplishments, they have launched the world’s largest fintech hub in Singapore(which was personally opened by the Deputy Prime Minister of Singapore). Still, on the positives, R3 opened a blockchain lab in the LATTICE80 Singapore hub. Although the company has its headquarters in London, its services span across the US, EU, UK, MENA, Asia, and Nordics. They have garnered significant recognition in the Asian crypto industry.
One of the goals of LATTICE80 is to help startups in developing and expanding their business models. Financial institutions and corporates who are already established can access fresh ideas from startups, as well as adapt their innovations through the KAYA Network. Some of the services provided by the platform include a fintech database, co-working space, curated innovative program, and a startup due diligence, amongst others.
Despite the fact that more and more organizations are entering into the blockchain space, there is no arguing the fact that there is a huge gap between organizations and implementing blockchain solutions. A lot of organizations are skeptical about trying out blockchain solutions. The KAYA Network through blockchain is linking a lot of participants in different playing fields; from governments to corporates, startups, and the public.
The network already has a database comprising of over 11,000 fintech and blockchain startups. The fact that their services span across several countries (with plans to open physical spaces in 200 cities), as well as a workforce of over 200,000 professionals, is a huge plus.
Details of how the tokens will be distributed are not explicitly stated, but it is pertinent to state that the network is issuing its utility tokens via the NEM platform. Co-founder and CEO of LATTICE80, Joe Seunghyun Cho, said:
“We are happy to choose NEM to issue the first tokens and build services on it. NEM’s platform offers a reliable and scalable system to build institutional level services. NEM foundation’s vision to build blockchain innovation for the people is aligned with LATTICE80’s. I believe NEM Foundation’s effort to support the Fintech and Blockchain communities will also benefit the LATTICE80 community.”