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Sheesh... Basically, Kobo is dropping support for SSL 3.1 and TLS 1.0. If your device/application can handle TLS 1.2 or higher, you won't see an issue.
As to why they are dropping support? SSL 3.0 and TLS 1.0 are no longer considered secure. TLS 1.1 is also going to hit the dustbin in early 2020. For what it's worth, since Jan. 1, 2019, over 93% of my website connections have used TLS 1.2 or 1.3. Probably because the PCI Data Security Standard mandated no SSL 3.0/TLS 1.0 by June 30, 2018 and recommended not using TLS 1.1.
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