In the last couple of months investing into cryptocurrencies such as Bitcoin or Ethereum has been quite unreliable or predictable. That is why investors are looking more towards new opportunity to get the new Ziliqa or EOS among them.
Today I want to talk about INSCoin for knox, a really interesting project that wants to revolutionize the insurance industry.
INSCoin presale is still TBA.
1th reason: THE TEAM! An explosive mix of ambitions young guys and experts in the field.
The INSCoin team is young, ambitious and open to its investors and users, in addition to more than 10 developers under 30 there are insurance experts who in the past have founded and managed an insurance company such as our ceo Agostino Luongo (Hill company Ltd) and our partners. check them on our site!
They aren’t afraid to show their faces and names on social media, it’s easy to find about each member of the team on the inscoin.co website, come and have a look.
2th reason: TAILOR MADE! The blockchain perfectly fits with the insurance world.
Blockchain in its public implementations solves the fundamental problem of creating a trustless and permissionless network, where the participants can consider valid a transaction, and therefore also a possible related certification, thanks to the consent mechanism generated by the system of incentives and disincentives among the parties involved. The non-falsifiable certification of documents is one of the most important applications of Blockchain technology, as a certified
document in the Blockchain can NEVER be falsified.
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 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.
There are many related study on it, we just want to share 3 of them:
https://www.cbinsights.com/research/blockchain-insurance-disruption/
https://www2.deloitte.com/ca/en/pages/financial-services/articles/blockchain-in-insurance.html
3th reason: A smarter way to change the insurance industry.
Many of the crypto projects that have tried to disrupt the insurance industry have started from a decentralized perspective, which will hardly be able to operate in the real world without relying on a real company.
In inscoin for knox we wanted to do things differently, we are big fans of decentralized platforms, in fact we will rely on the Ethereum network for the deployment of our Smart contracts, but behind our token inscoin will be founded from 1 to 3 companies based on the number of ETHs collected, remember that in the real world companies need security funds of several million dollars to be legally set up, with registered offices in the Bermuda Islands, Dubai and Portugal.
We have studied this phase in details thanks to our previous experience in the insurance world and we have drawn up a certified business plan, you can consult it at the following link.
In addition, we are already in contact with a network of over 300 brokers who will help us sell our policies, which must be paid in part in INSCoin! this will safeguard the token economy, in fact, a special deflation plan has been designed to encourage growth in value!
4th reason: THE DEFLETION PLAN the killer feature of the inscoin token
As we said before, the inscoin token will be used to pay a part of the insurance premiums of our policies, this will bring a demand for inscoin that will grow in proportion to the growth of the turnover of the companies, (following the business plan, the turnover after the first year will be $80,576,000) and these inscoins will be purchased at regular intervals on the market, which will lead the demand to grow over time. The tokens received from policy payments will be blocked via Smart Contract for the first year after payment and then released at a rate of 25% per quarter. This economy, supported by the growing turnover of insurance companies, will lead to a reduction in the current supply and a strong deflation, increasing the value of tokens on the market.
5th reason: an ambition roadmap and relevant investments already done.
The conclusion
INSCoin is an ambitious project that aims to revolutionize the insurance industry! In fact, starting from a proven know-how of the business and combined with the implementation of the Blockchain, through the Smart Contract, InsCoin For Knox Project will succeed in its intent:
- Trust and maximum transparency in relations between Company and Insurant
- Combating Counterfeiting of Policies
- Issuing automated and decentralised insurance policies
Follow our project on https://inscoin.co