What is FidentiaX - xChange with Confidence !
FidentiaX is the World's 1st Marketplace for Tradable Policies powered by Blockchain technology to disrupt the status quo.
You will find in the video below almost everything that you need to understand the project that I believe to be one of the most potential ones of 2017. You will find out that your insurance is a tradable asset which normally is surrendered to an insurance company that you choose, but instead you could do someting much more profitable with it than this.
The industry of life insurances is one of the industries that creates incredible amounts of dollars in premiums consistently. Only in 2016, the aggregate market estimate for premiums in the OECD locale (40 nations) was at a huge value, more exactly, over US $ 3.86 trillion dollars. Rising Asia will be the quickest developing business sector for life insurance with an expected genuine aggravated yearly development rate of 10.2%.
A great number of people that have insurance don't understand that insurances with money esteem can be exchanged on the market for a higher money esteem. That is to say, an owner of insurance policy could sell his it to a third party instead of surrendering the policy to an insurance company.
How will FidentiaX fit in this?
Well, FidentiaX is the project that wants to change the things for you, it is the world's first commercial center for tradable insurance arrangements which makes an exchanging commercial center and archive of insurances for the majority by utilizing for the first time the blockchain innovation. This blockchain-controlled commercial center will give a trustworthy, stable, easy to be audited and straightforward conditions to dismount the status quo. FidentiaX Open Source Foundation (FOSF) will be setup with the mission of multiplying the adjustment of blockchain innovation in the an industry like the Insurance Industry
How will FidentiaX work in more details?
First of all, if you are asking yourself how can the fdX tokens be used, well the members can use fdX to buy insurance policies but with an important discount which is only for Membership payments. Resulting from this, the membership fees via the platform will be used to purchase token and burnt Exchange - trade fdX tokens for Platform Unified Tokens (ISX) within the platform.
By creating and developing a marketplace that is worth trusting for the buyers that want to trade insurance policies as part of their investment portfolio using the potential of the blockchain technology the great platform of FidentiaX will bring benefits like secured transactions and more profitable.
FidentiaX the world's first trading center for tradable insurances approaches, will be a participation based on a system concentrating on the key partners:
FidentiaX creates a way that offers an access to it’s user for the purpose of trading Insurance policies which can have many advantages against the submission of them to an Insurance company. More exactly FidentiaX works through the following steps:
Listing Of Policies
All starts with the listing of the insurances Policies by those who want to sell them on the platform of FidentiaX. Those who want to sell them normally must also submit their policy’s details as well as their name and the price for the policy. This will offer them automatically access to the buyers area on the platform and that will make them visible to buyers who can buy the one that satisfies the most their need.Offering The Proposal
Presently subsequent to perusing through the rundown, purchasers will choose the proper strategy and after that he'll send his documentation to the vender alongside store of the assets according to the cost of approach. After the offering, a prompt email will be sent to the dealer and all the documentation will be gotten by him for exchanging of strategy over to the new purchaser.Submission
After he is getting and accepting the papers and affirming the revenues into account, the merchant will go to the insurance agency for the exchange of approach to the new purchaser. After the exchange he'll get the new papers for the sake of new purchaser.Transaction Completion
Now, the seller can go directly to his FidentiaX account where he’ll put the new papers to the FidentiaX blockchain where all will be checked. After the verification is confirmed and checked, the Blockchain will transmit the documentation to the new buyer and those funds in escrow account to the seller. In this way transaction will be completed without the need of intermediary or third party and thus cost effectiveness will be reached.
How will the Encryption be done?
The made trade on the fidentiaX stage depends on a specific calculation, named the Curve25519, which creates a mutual mystery key utilizing a very fast, effective, high-security Diffie-Hellman work. This calculation is actualized almost identical as the Nxt.org Blockchain, on which the fidentiaX Blockchain is based.
CROWD TOKEN CONTRIBUTION
fidentiaX's tokens will be in a number of 100,000,000 fdX for Crowd Token Contribution (CTC) with also bonus for early contributors based on the following calculation:
CTC Day 1-2 ----------- 1 ETH = 575 fdx (15% bonus)
CTC Day 3-5 ----------- 1 ETH = 550 fdx (10% bonus)
CTC Day 6-30 ----------- 1 ETH = 500 fdx
In fact a Private-Contribution exercise will take place before to the Public-Contribution for the following: the strategic partners, the company affiliates and angel investors. CTC will end after 30days or when the 100,000,000 fdX target will be achieved so, whichever is earlier.
Thanks for reading ! Be sure that I will come with updates the next days, but if you want to read mor about FidentiaX just access the links below.
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