GRE Ecosystem: Global Risk Exchange Ecosystem Based On the Blockchain Technology

Introduction

A risk is the part of the everyday life. No, matter what we do or where we live, everything involves risk. The degree of risk is variable in different circumstances. Traditional insurance products are centralized and create a general solution for everyone. This creates problems for the individuals who have diversified risk profile. The lack of personalized insurance products is a major challenge for the insurance industry. There is a lot of waste of financial resources in the traditional insurance industry.

There are many other problems in the industry, such as High sales channel cost & low cash efficiency, low operating efficiency, misuse of users private information and misleading policy sales and insurance fraud. Similarly, there are many challenges in the derivative market, such as unaccounted OTC Trading volume and opaque risk measurement, counterparty risk and credit risk. There is a need to adopt the blockchain technology to find the solution for the above challenges.

Solution offered

GLOBAL RISK EXCHANGE (GRE) is the company offering blockchain solution for trading risks for individuals and institutions. They are providing tools for management of risks based on blockchain technology. Smart contract based risk hedging and transaction takes place on the platform. The marketplace will be created for the individuals and institutions, who can sell their risks to the willing buyers.

The three kind of entities are present on the platform; insured, insurer and designer. The insured category consists of people who pay the premium and sells the risks on the marketplace. The second category is the insurer who is willing to buy the risks and accepting the premium. The designers or contract designers is the one who measures individual risks and designs the contracts.

Risk exchange market will be decentralized and wisdom of the crowd will be the judge of the future of the platform. The blockchain technology provides complete democratization of the insurance industry and risk management of contract design is the choice of the crowd.

There are multiple benefits of the platform, such as Maximizing order efficiency and removing information asymmetry, market-based risk assessment, and pricing, Eliminating third parties and intermediaries. The GRE Foundation is an independent body which oversees the technical development of the platform. RISK Token is being utilized on the platform for a variety of purposes, such as for transactions and settlements.

ICO INFORMATION AND TEAM

10 billion RISK Tokens are created for the project in which 40% is reserved for the token sale. The Token sale is currently live on the platform. Funds will be utilized for the development and marketing of the platform. The team working on the project has years of experience in the blockchain technology and web development.

Conclusion

The decisions we make financially is also filled with many risks. But, that is the part of the equation. Because there are no rewards without risk. For managing risks in our life, we utilize the insurance products. These acts as a life savior in many difficult situations of our life. The individual investors lean on the insurance products while institutional investors find derivatives market to be suitable to cover their risks.

Trading risks for people will be decentralized and much easier to record with the application of blockchain technology. The application will be beneficial for insurance as well as the derivate market.

The risk is an innate part of the financial life. People who are capable of managing risks with the help of tools present on the platform will be the winner in the future. The future is the blockchain technology and decentralization. What do you think about the services offered by the platform? Are we ready to trade our risks?

Website - https://www.gref.io/

Whitepaper - https://www.gref.io/gre.whitepaper.en.pdf

ANN - https://bitcointalk.org/index.php?topic=3178591.0

Telegram - https://t.me/grefoundation

Published by - Etheran

Profile - https://bitcointalk.org/index.php?action=profile;u=1108165