Hello everyone, readers of my blog Syndrome ICO. I will explain a bit about the crypto currency project, This is most relevant in the world of crypto currency, which is characterized by its high volatility. I decided to look for a project where all the tools for productive, high-quality and profitable trading by crypto-currencies will gather. And this is the INSCOIN project.
Insurance is one of the oldest industries, and can be seen as representing part of the growth of the modern business which has come to define societies all over the world. While insurance in a form we would recognise today began with the first insurance contract in 1347.
Methods for transferring and distributing risk in a monetary economy have been observed in China in the third millennia BC.One thing that has defined the insurance sector over thousands of years is its ability to adapt its practices to fit with a changing technological landscape. From contracts written on parchment to websites and big data, the industry has changed rapidly.
Blockchain is the latest technological game changer to enter the picture, and many are predicting that distributed ledgers could have profound effects on the way that insurance companies are able to operate.
One important issue that blockchain technology seems tailor made to address is the underlying principle of ‘utmost good faith’ in insurance contracts.This principle states that every party entering into an insurance contract has a legal obligation to act with a standard of “honesty greater than that usually required in most commercial contracts”.
This means that the insurer is required to trust that they are being told the truth by the person looking to take out insurance. This differs from other contracts, which are usually based on the principle of ‘let the buyer beware’, or the idea that the buyer assumes the risk that the product may fail to meet their expectations.
Applying blockchain to this issue would mean that both the insurance contract and the consumer’s personal data could be stored on a distributed ledger, with the consumer being in control of who has access. The data remains stored on the user’s personal device and this may eliminate the need for brokers and other intermediaries that have emerged as mediators between insurers and consumers. Not only does blockchain offer the promise of cost reduction and efficiency, but it could also enable revenue growth, as insurers attract new business through higher-quality service.
Blockchain technologies can help the wholesale insurance sector fulfill its role in underpinning the global economy more effectively. Just as blockchain is being pursued as a force for positive change in other areas of society – from identification for refugees to better public service delivery – it can also help wholesale insurance to discharge its responsibilities for the common good.
The KNOX project will be the first insurance company that merges the real world with the digital one using Blockchain technology, creating the most efficient and advanced structure in the sector, to find a solution to the problem of certification and anti-forgery of insurance policies.
With the smart contract the spread of false insurance policies is avoided because it is the same system that issues them after receiving the payment. With the smart contract the company won’t have delay in collecting credits, as the policy is issued only after receiving the payment. This factor aims to significantly improve the management of the company itself.
With the smart contract in the event of accidents the real judge who will decide whether or not to pay them is no longer the company, which could have an opportunistic behavior, but the blockchain system that, in a totally disinterested by the human opinion, will decide if this accident is compliant with the provisions in the policy. This benefit will be the most important as it will increase the transparency of the company towards customers.
With the smart contract the spread of false insurance policies is avoided because it is the same system that issues them after receiving the payment.With the smart contract the company won’t have delay in collecting credits, as the policy is issued only after receiving the payment. This factor aims to significantly improve the management of the company itself.
With the smart contract in the event of accidents the real judge who will decide whether or not to pay them is no longer the company, which could have an opportunistic behavior, but the blockchain system that, in a totally disinterested by the human opinion, will decide if this accident is compliant with the provisions in the policy. This benefit will be the most important as it will increase the transparency of the company towards customers.
Info Token
- Token - INSC
- Platform - Ethereum
- Type - ERC20
- PRICO price - 1 INSC = 0.0002 ETH
- Price at ICO - 1 INSC = 0.0002 ETH
- Pre-ICO begins - June 23, 2018
- Pre-ICO ends - July 7, 2018
- Bonus - Available
Investment Info
➣ Min. investment0.1 ETH
Receive - ETH
Distributed in ICO - 54%
Soft cap - 4,000 ETH
Hard cap - 39,444 ETH
➤ Token on sale - 270.000.000
Unallocated tokens will be burned after the ICO ends
INSCOIN tokens are a fundamental part of our project. Through it the customer can pay the insurance premium and can access the maximum level of authenticity of the policy, receive it in the form of smart contract.
CURRENT DISTRIBUTION
- 54% of total bids are allocated for token sales
- 15% Distribution to wholesale trade
- 10% is allocated to teams and advisors
- 10% Distribution of network partnerships
- 9% is allocated to the company
- 2% is allocated to Airdrop and Bounty
FINANCING DISTRIBUTION
- 60% is allocated for the manufacture of insurance companies
- 20% for platform development
- 10% is allocated for marketing
- 10% is allocated to backup
Roadmap
Realization of study project (MARET 2017)
Team Building
Establish the first collaboration network
Business Plan Forecasts (MEI 2017)
Legal consultation
Invest € 150,000
IT Insurance licensed platform (JULY 2017)
Invested € 300,000 for certified insurance platform
Insurance partnership (OCTOBER 2017)
Partnership with over 300 insurance brokers ready to work with the company
ICO Planning (FEBRUARY 2018)
ICO planning and marketing plan development
PRE-ICO (JUNE 2018)
Starting from PRE-ICO
ICO (JULY 2018)
Starting from ICO
Trading inscoin at major exchanges (SUMMER 2018)
InsCoin will be listed on the main exchange to ensure easy implementation for the company's future customers and the exact volume compared to our revenue.
Compliance to obtain an insurance license (AUTUMN 2018)
We will get authorization from the authorized authorities of the three countries to provide legal insurance services.
Introduction to internal platform (WINTER 2018)
With that customers will be able to access their policies through smart contract.
Smart contract in insurance business (WINTER 2018)
Smart contracts will increasingly become the protagonists of the insurance industry.
Partners
Finally, what I can say is the tremendous potential of this company. All-round ICO is very striking. This is a great open road to enter the ICO world.
If you know how to improve our community.
If you know how to spread information about us in this world.
If you have any ideas for other improvements, it is a privilege
If you all participate in our bounty.
More Information Visit The INSCOIN Link:
- Website : https://www.inscoin.co/
- Whitepaper : https://inscoin.co/assets/content/whitepaper_en.pdf
- ANN Thread : https://bitcointalk.org/index.php?topic=4422850
- Telegram : https://t.me/inscoinico
- LinkedIn : https://www.linkedin.com/company/inscoin-holding-ou/
- Twitter : https://twitter.com/inscoinforknox
- Facebook : https://www.facebook.com/Inscoin-for-Knox-1802470656458272/
- Reddit : https://www.reddit.com/r/InsCoin/
Author : Tejo_surty
My Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=2099518
Eth Address: 0xF9BC056454948A5D645c86708243A9C7d9578334
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