Today was another great day for the INSCoin for Knox project. Our operating team went on a trip to Switzerland to Lugano to sign an important partnership with Bitnautic, a Swiss-based company that aims to revolutionize the management of cargo transport worldwide through the use of a personalized smart contract.
This partnership will allow INSCoin for Knox project to have a preferential channel for the insurance of containers managed by Bitnautic platform.
This will allow INSCoin for Knox to acquire an additional market share, in addition to the 300 insurance brokers who already have a partnership with us.
The token economy will have an important advantage from these new partners as they will bring our Deflation Plan to work even better.!
Token economy e Deflation plan
The INSCOIN token is a fundamental part of our 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 smart contract.
15% of the supply (Broker WhoSaler reservers) will, at the end of the ICO, be temporarily blocked by a smart contract for 1 year. Starting from this basis we have foreseen a further controlled reduction of the working capital based on the sale of insurance policies.
The collection of premiums in inscoin is articulated like this:
For premiums < $ 1'000'000 1% must be paid in INSC
For premiums < $ 100'000 3% must be paid in INSC
For premiums < $ 50'000 5% must be paid in INSC
For premiums < $ 10'000 10% must be paid in INSC
For premiums < $ 500 20% must be paid in INSC
All the collected inscoin, as described, will be retained by our structure until the end of the smart contract which blocks 15% of supply. From that moment on, we can issue on the market, every three months, up to a maximum of 4% of the retained tokens. This 4%, issued every 3 months, creates inflation but is absorbed by the constant increase in the turnover of the three Companies.
About Bitnautic
Based in Lugano, BitNautic is a single platform, capable of holding together all the major players of the shipping market: carriers, shippers, producers, buyers . Based on the blockchain, it is a completely transparent network , where ship owners can list their ships, update their location in real time, and cargo owners can find the best routes for their shipments, and at the best price . At the same time this allows them to forge new business relationships, extending their network and bringing new customers to their business.
About INSCoin for Knox
Based in Estonia, InsCoin for Knox Project aims to establish the first insurance company that will accept a Crypto (INSC) for the payment of insurance premiums, and the first that, with the help of the blockchain, will solve the problem of falsification of insurance policies.
One of our strengths will be the automation of the issuance of policies and the payment of compensation when the claim that is the subject of the policy occurs.