INSCOIN - The Blockhain Based Insurance Company
Warm greetings for loyal friends of blogger, Hello in my article this time I would like to introduce ICO or project INSCOIN, thank you for taking the time to read this article, may be useful
What is INSCOIN?
INSCOIN is one of the oldest industries, and can be seen as part of the growth of modern business that comes to define people around the world. While the insurance in the form we will recognize today begins with the first insurance contract in 1347, methods for transferring and distributing risks in the monetary economy were observed in China in the third millennium BC. One thing that has dictated the insurance sector for thousands of years is its ability to adapt its practices to adapt to changing technological landscape. From contracts written on parchment for websites and large data, the industry is rapidly changing.
Insurance is one of the oldest industries, and can be seen as part of the growth of modern business that has come to define the world-wide society. While insurance in the form we know today began with the first insurance contract in 1347.
Methods for transferring and distributing risks in the monetary economy have been observed in China in the third millennium BC. One thing that has defined the insurance sector for thousands of years is its ability to adapt its practices to fit the changing technological landscape. From contracts written on parchment to websites and large data, the industry has changed rapidly.
Blockchain is the latest technology game changer to include images, and many predict that distributed ledgers can have profound effects on how insurance companies can operate.
One of the important issues that seem to be designed by blockchain technology is the underlying principle of "full good faith" in insurance contracts. This principle states that any party entering into an insurance contract has a legal obligation to act with a standard of "greater honesty than is normally required in most commercial contracts." This means that insurance companies are required to believe that they are being told the truth by the person want to take out insurance.It's different 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 a blockchain to this problem means that insurance contracts and consumer personal data can be stored on a distributed ledger, with consumers controlling who has access. The data remains on the user's personal device and this can eliminate the need for brokers and other intermediaries that appear as mediators between insurance companies and consumers. Blockchain not only offers the promise of cost reduction and efficiency, but also can enable revenue growth, because insurance companies attract new business through high quality services.
Blockchain technology can help the wholesale insurance sector fulfill its role in supporting the global economy more effectively. Just as blockchain is being pursued as a force for positive change in other areas of society - from identification to refugees to better public services - it can also help wholesale insurance to carry out its responsibilities for the common good. The KNOX Project will be the first insurance company to combine the real world with the digital world using Blockchain technology, creating the most efficient and sophisticated structure in the sector, to find solutions to certification and anti-counterfeit insurance policies.
With smart contracts, the spread of fake insurance policies is avoided because it is the same system that issues them upon receipt of payment. With smart contracts, the company will not have any delay in collecting credits, since the policy is issued only after receiving payment. This factor aims to improve the company's management significantly. With smart contracts in the event of an accident, real judges who will decide whether or not to pay them are no longer a company, which could have opportunistic behavior, but a blockchain system that, in absolutely no interest in human opinion, will decide whether the accident is in accordance with provisions in the policy.
With smart contracts, the spread of fake insurance policies is avoided because it is the same system that issues them upon receipt of payment. With a smart contract the company will not have any delay in the collection of credit, since the policy is issued only after receiving payment. This factor aims to improve the company's management significantly.
With smart contracts in the event of an accident, real judges who will decide whether or not to pay them are no longer a company, which could have opportunistic behavior, but a blockchain system that, in absolutely no interest in human opinion, will decide whether the accident is in accordance with provisions in the policy. This benefit will be the most important because it will increase the company's transparency to 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 for backup
Roadmap
Team INSCOIN
Partners
Well that's a little explanation about INSCOIN? so INSCOIN, is a crypto currency that will be used for every activity or transaction in Insurance Company.
More information please click link below:
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Website: https://inscoin.co/
Whitepaper: https://inscoin.co/#whitepaper
ANN Thread: https://bitcointalk.org/index.php?topic=4422850
Telegram: https://t.me/inscoinico
Steemit: https://steemit.com/@inscoin
Facebook: https://www.facebook.com/Inscoin-for-Knox-1802470656458272
Twitter: https://twitter.com/INSCOINforknox
Linkedin: https://www.linkedin.com/company/inscoin-holding-ou/
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Author : Cindy_wey
My Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=2109755
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Eth Address : 0x7933923Bf1ED8793C79e121C1F824873eD2B8Dec