Kalaka is a community-owned digital bank that enables people to exchange value in an effective, safe, and democratic way. Kalaka is built on a fully decentralized, privacy-respecting scalable stablecoin that uses social trust to back the value of the currency.
Problem
Centralized banking cost 10x more than it should
Today banks are charging you 10x or more for everyday financial services, like credit cards, loans, and saving accounts. They were the best available solution for daily financial needs, however, they’ve passed their peak. Banks today have huge expenses due to their inefficient technologies and business practices, and the only way to pay for all is to charge you, the customer more.
Solution
A fully automated digital bank that costs 10x less
We use a super-efficient, no-risk blockchain architecture that gives you unbelievably low transaction fees (less than 1%). And we also use social collaterals to lower default rates, which gives you credit cards with incredibly low APRs (less than 1% /m).
Mission
Empower people to effectively exchange value with each other
Vision