International compliance to obtain insurance license and Inscoin lead
Technology and digitalization are bringing a revolution in all sectors of business and finance, like the one in 2008 when the evolution of Bitcoin started and took over the world in a decade. We all know that how important role insurance policies have played in our lives and how important it is for most of us to get almost everything insured, but the increasing number of frauds has created a great problem in the life of every human who relies on insurance. According to an FBI study the annual cost of insurance fraud is approximately $40 billion. This insurance fraud cost the average increase to an American family approximately $500 in insurance premiums.
With this problem arise a solution to digitalize the insurance agreements and contracts. This was a tough job to do and even tougher to make things reliable, it is when “InsCoin for Knox Project” came up with a solution to use Block Chain Marketing to help make things easier. The Knox project goal is to decentralize the whole insurance system by transforming the traditional insurance policies from paper into smart contracts.
Knox insurance will issue a paper-based insurance policy which will contain a serial number of the policy and a unique barcode. Payment through Inscoin policy will enable the customer to receive a standardized policy and a code of the policy that will coincide with the address of the smart contract related to the policy. The code can later be used by the beneficiary to check that the contract was issued by the company.
Instability of goods in the market is a serious issue and reason for the loss in the investment. Investors lose a lot of money with the rise and fall of any currency they are dealing with same applies here so a check to control deflation is necessary and Knox Project has it ready.
The INSCOIN token is a fundamental part of the project. Through it the customer can pay insurance premiums and can access the maximum degree of authenticity of the policy, receiving it in the form of a smart contract.
Inscoin's supply will be 500.000.000 and will be distributed like this:
• 54% Token Sale
• 15% Blocked reserve (Broker WholeSaler)
• 10% Team and Advisors
• 9% Reserves distributed to the 3 insurance Companies (blocked for 3 months and 10% monthly release)
• 10% Broker Network partnership, Legal and Insurance advisor
• 2% Airdrop and Bounty program
The “Deflation plan” will be structured in a way that 15% of the supply (Broker WholeSaler reserves) will, at the end of the ICO, be temporarily blocked by a smart contract for 1 year.All unsold tokens will be burned after the ICO and will further help to improve the value of the token.
Website link : https://inscoin.co
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
My Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile;u=1781890