Vernam! A decentralized platform, based on blockchain technology, connecting various stakeholders in the insurance industry–customers, brokers, and insurance companies, which will use blockchain technology to make the insurance process less costly, fully transparent and much more convenient!
Vernam
A new generation of insurance process on the blockchain.
Vernam utilizes blockchain technology to provide:
Competitive online marketplace for conventional insurance products by the biggest insurance companies
Generous compensation - up to 30% of the policy premium in Vernam tokens (VRN) is returned to clients
“CryptoSafe” - a smart contract, guaranteeing that when a defined set of events occur, the client will be compensated with a certain amount of Vernam Tokens(VRN). The newest and most innovative blockchain based insurance product that Vernam will introduce
Vernam Feature
- 0% Commision Insurance
Clients, purchasing conventional insurance through the Vernam platform will receive a cashback reward, equal to a typical broker’s commission (up to 30% of the premium price) in VRN tokens.
- CryptoSafe Smart Contract
Every client will be able to sign the “CryptoSafe” smart contract, free of commission, guaranteeing that when a defined set of events occur, the client will be compensated.
- Vernam VRN Token
To take full advantage of the platform we will introduce the Vernam token (VRN), an Ethereum-based ERC20 standard non-minable utility token that can be obtained on our crowdsale.
- Constant Demand
All insurance processes on the platform will operate with VRN tokens, generating a constant demand and rising price of the VRN token.
- Secure & Transparent
The use of a shared ledger will prevent any possibility for data manipulation, increasing transparency and minimizing transaction costs.
- Industry Know-how
Part of our team are key figures and companies with more than 20 years of experience in managing, developing and working in all fields of the insurance industry combined with top blockchain and crypto experts.
Token Information
The platform will be powered by Ethereum based ERC20 utility token named Vernam Token (VRN), which might be used by clients, insurers, brokers and third parties.
Tokenizing the platform will allow the unique identification of customers and assets, and the transfer of this information through the blockchain to insurers as an unalterable digital record.
Besides the purchase of insurance products, the rewards and incentives for platform users will also be given in Vernam tokens, which will thus be an integral part of the ecosystem and will be used to access the decentralized ledger.
While the use of VRN tokens willnot be a requirement for the purchasing ofdigital insurance instruments through the Vernam platform, its built-in algorithm willconvertany method of payment (such as fiat currency) into Vernam Tokens – under the current exchange rate of participating platforms.
The reward tokens, received as anincentive forpurchasing digital insurance products through the platform could beconverted backto fiat money through a digital exchange, retained to purchasesubsequent insurance (at an approximately 20% lower rate, than purchasing it withfiat money and receiving aVRN-denominated discount).
As the Vernam platform gainstraction,the growing recognition and acceptance of crypto insurance products willresult in a wider circulationof the VRN Token.In addition, the increasedcirculation will create a significant pool forexchanging tokens into Euro, Dollars, orotherfiat currency– thus guaranteeing liquidityto VRN holders and prospective platform users.
Token Allocation Information
Start of Token Crowdsale: N/A 2018:
Token symbol : VRN
Type : ERC-20
Total Token Supply : 1.000.000.000 VRN
New token will never be created :
Soft Cap : 40.000.000 VRN
Hard Cap : 500.000.000 VRN
Minimum Transaction Amount : 0.1 ETH, 0.01 BTC, 1000 USD
1VRN = 0.051 - 0.085 USD
1VRN = N/A ETH*
1VRN = N/A BTC*
The unsold tokens will be burned
Development roadmap
Official Website : https://www.vernam.com/
White Paper : https://www.vernam.com/assets/uploads/Whitepaper_Beta_v015.pdf
Telegram : https://t.me/vernam
Facebook : https://www.facebook.com/vernamofficial/
Twitter : https://twitter.com/vernamofficial
Bitcointalk Ann Thread : https://bitcointalk.org/index.php?topic=3092577.msg31914847#msg31914847