ABOUT THE INSCOIN PROJECT FOR KNOX
The KNOX Project will be the first insurance company to combine the real world with the world of technology. Blockchain technology, and will create the most efficient and sophisticated structure in the sector, to find solutions to certification and anti-counterfeit insurance policies.
Insurance Policy
Thanks to the platform developed by Knox's insurance, the policy will evolve into the full engage and eliminate the possibility of conflict between interest involved.
Insurance companies will be established in Lisbon, Dubai, and the Bermuda Islands, to enable token economies on a global scale.
Smart Contract
Avoid spreading fake insurance policies because it is the same system that removes them after receiving payment. With smart contracts, the company is not delayed in collecting credits because the policy is only issued after payment is received. This factor is intended to improve the management of the company itself.
The smart contract in the case of an accident is a real judge who decides to pay or no company, which can have opportunistic behavior, but the chain block system, completely uninterested in the human mind, will decide whether the accident meets the terms of the policy. This benefit will be the most important because it increases the company's transparency to customers.
THE CHALLENGE
According to an FBI study the annual cost of insurance fraud is approximately $40 billion. These insurance fraud cost the average increase to anAmerican family approximately $500 in insurance premiums. However, the biggest losses are borne by the companies, the management of IT security and operational losses resulting from attacks involve huge investment costs. For these reason insurance companies are starting to manage cyber risk with a Three Lines of Defense model. Generally, IT and the CISO, make up the first line of defence, implementing and executing the information security strategy.
SOLUTION
The KNOX project provides for the establishment of the first insurance company that will merge the real world with the digital one using Blockchain technology, creating the most efficient and advanced structure in the sector, to find a solution to the problem of certification and anti-forgery of insurance policies. The Blockchain technology, born starting from the Bitcoin in 2008, is now used more and more widely in an increasing number of cryptocurrencies, to allow the creation of decentralized and disintermediate new generation services. 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.
HOW IT WORKS ON BLOCKCHAIN
The certification of the authenticity of the policies will be carried out partly on the internal platform of Knox Insurance and partly on the Blockchain of Ethereum. At the end of the certification process, will be issued a smart contract that combines the authenticity and coverage of the policy while respecting the privacy rights of the contracting parties.
Five good reasons why you should consider investing in InsCoin:
1. Customized
Blockchain fits perfectly with the world of insurance. Block Chain in public implementation solving the underlying problem of creating less trust and permission-less networks, in which the participants of the transaction can be considered legitimate, and therefore potential related certification, with permission mechanisms generated by incentive systems and negative incentives between the parties involved. Blockchain Technology, as certified documents in Blockchain NEVER be falsified.
Smart contracts avoid spreading fake insurance policies because it is the same system that issues them upon receipt of payment. With smart contracts, the company is not delayed in collecting credits because the policy is only issued after payment is received. This factor is intended to improve the management of the company itself.
With a smart contract for accidents, the actual judge who decides whether or not to pay is no longer a company that can have opportunistic behavior, but the blockchain system will decide whether the accident meets the terms of the policy.
This benefit will be the most important because it increases the company's transparency to customers.
2. A smarter way to change the insurance sector
Many crypto-projects have been trying to disrupt the insurance industry, from a decentralized perspective that does not depend on real companies.
In inscoin for knox we want to do something different, we are going to rely on ethics of our company. number of ETH collected, remember that companies in the Bermuda Islands, Dubai and Portugal.
We have studied this phase in detail thanks to our previous experience in the insurance industry and we have developed a certified business plan, which you can learn at the following links.
3. The Defletion property plan killer token inscoin
4. Roadmap ambitions and have adopted relevant investments
5. Team
An explosive mixture of ambitions of young people and experts in their fields.
The InsCoin team is currently very young, ambitious and open to investors and users, in addition to more than 10 developers under 30, such as our CEO Agostino Luongo, (Hill Ltd) and our partners.
They are not afraid to show their faces and names on social media, it is very easy to find information about each team member.
TOKEN SALES INFORMATION
Ticker: INSC
Type: ERC20
Total Supply: 500’000’000 INSC
Tokens for sale: 270’000’000 ISNC
Exchange rate: 1 ETH = 5’000 INSC
Soft Cap: 4’000 ETH
Hard Cap: 39’444 ETH
Unallocated tokens will be burned after the end of the ICO.
Pre-ICO starts: June 23, 2018
Pre-ICO ends: July 7, 2018
Pre-sale Price : 1 INSC = 0.0002 ETH
ICO Price: 1 INSC = 0.0002 ETH
Accepting: ETH
Soft cap: 4000 ETH
Hard cap: 39444 ETH
Bonuses: Up to 30%
ICO starts: July 23, 2018
ICO ends: August 23, 2018
Allocation Token:
Token sales = 54%
WholeSaler Broker = 15%
Team and Advisors = 10%
Network Partnership Brokers = 10%
Reserves for 3 companies = 9%
Airdrop and Bounty Program = 2%
Fund Usage:
Setting Insurance Company = 60%
Platform Development = 20%
Marketing = 10%
Reserve fund = 10%
For More Information Please Visit :
Website : https://www.inscoin.co/
Whitepaper : https://inscoin.co/assets/content/whitepaper_en.pdf
ANN thread : https://bitcointalk.org/index.php?topic=4525576.0
Bounty: https://bitcointalk.org/index.php?topic=4494867.0
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/
Author: Ahmad Hidayat
Bitcointalk Username: ahmadhidayat27
Telegram: https://t.me/ahmad_hidayat27
Bitcointalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=1125575
ETH Address: 0x95afD6422538c5c9AbF6C7fF4Ec5c45281bD545B