FidentiaX Is Building The World's First Marketplace For Tradable Insurance Policies.....

sidsamant (45)in #blockchain • 7 years ago

Fidentiax xChange With Confidence

Do you know that now you can also make an insurance policy transaction through cryptocurrency? Yes, now you can buy and sell your insurance policy online and get cryptocurrency in exchange for your insurance policy.

BLOCKCHAIN System

Whenever we want to buy any property or item, we can go to the seller and buy that item. If this item or service is to be purchased online, then we need to make an intermediary that is needed. Blockchain has ended this problem.

Through Blockchain, we can buy any item easily, that too without any intermediary's help. Blockchain is an online database system, in which any transaction is safe. Money can be easily exchanged through Blockchain. Blockchain can not be hacked, it is completely safe. Blockchain's first experiment was done in 2008. It was used to buy bitcoin. Bitcoin is a cryptocurrency.

Fidentiax is working on simplifying online insurance policy transactions.

Fidentiax

For any transaction, the buyer and seller need to be in one place. Be a seller for buyer and buyer for seller. Fidentiax is the only platform where both buyer and seller are present in one place. Fidentiax not only provides a fair value in lieu of your insurance policy but it also provides complete protection of your transactions. On this forum, we get cryptocurrency in exchange for our insurance policy, which we can use for any business purchase.

TECHNOLOGY PLATFORM

Fidentiax is such a platform where all member's documents, currency protection and special care are taken. Fidentiax's platform will be based on a custom version of NXT blockchain (www.nxtplatform.org). Fidentiax is a very safe and simple platform that is easy to use. The reasons that make it safe are the following: -TOKENS

There will be 3 types of token for FidentiaX users. By using these token we will be able to earn cryptocurrency by trading policies on FidentiaX.

 Crowd Token Contribution (Ethereum Blockchain) – fdX

 Currency Representation Tokens – (eBTC, eETH, eUSD, eEUR, eSGD, eJPY, eKRW, eMYR, etc)

 Platform Unified Tokens – ISX

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Generally, a vendor can sell his policy in the same currency in which he created the policy. (for example, a Singapore Dollars Policy will only be able to cash out in Singapore Dollars).

Fidentiax has completely solved this problem in the cash management system, on this forum you get unified token (ISX) in exchange for your policy. You can easily convert from your currency by giving some forex charges.

ACCOUNT MANAGEMENT

Fidentiax is a very large platform where users from all over the world are involved, in such a way Fidentiax is obliged to not allow any fraud with their user. To solve the same problem, account management policy of FidentiaX is very beneficial. In it each user gets a key as a password. It is a work of the user to keep it safe because it is a very difficult task to regain it. This is why it has been done so that there is no deception of any kind.

If a user forgets his key for any reason, then he has to do the following procedure to get it back: -

 confirm the legitimacy of the request.

 create a new account on behalf of the user.

 transfer metadata, balance, and policy ownership to a new account.

 send the user a new hardware signing device containing the new account’s private key.

USER TYPES

There are 3 categories for users on this forum. All users will be included in these categories according to their work. These categories are as follows

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SELL ONLY- Users who want to sell their policies without any business activity, they will be included in the SELL ONLY category.

• No membership required

• Cannot buy policies or access policy marketplace

• Automated/Semi automated KYC and policy metadata population

BUY AND SELL- Such users who do both work for buying and selling policies through this forum will be included in this category.

• Membership required

• Can buy and sell policies on the Policy Marketplace

• Access to policy ledger function

• Automated/ Semi-automated KYC and policy metadata population

TRUSTED 3rd PARTIES/ PARTNERS- Partner trading of policies as a service on behalf of others.

• Membership required

• Can buy and sell policies

• Manual entry of third party’s KYC and policy metadata

• Responsible for verification of their clients KYC and policy metadata.

PAYMENT

When the user has enough ISX balance then he can use it to top-up his Fidentiax ID. Fidentiax can be used easily by ISX.
CASH OUT (WITHDRAWAL)

The user can get his payment from a company website on a certain date every month, a company has fixed a date each month, on which date all users will be able to receive their payment.

• User decides on an ISX amount to cash-out.

• ISX amount is deducted from user’s balance

• U.S. Dollar value of ISX is transferred to user’s fiat account on the next cash-out date.

• User can decide to cancel the cash-out any time before cash-out date.

POLICIES

Fidentiax have set certain criteria for the policies to avoid any kind of deception. Policies are unique, non-duplicable objects comprising a unique ID, a set of metadata (policy details and requirements) and a set of supporting documents (KYC, photo of the original paper policy, etc.). The policy which does not meet these criteria will not be included.

SUPPORTING DOCUMENTS

Each of the documents is hashed and uploaded, which is included in the documents that are found to be completely correct. This is a very important process. Those documents which are verified are included.

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