INSCOIN;INSURANCE WITH ANOTHER PERSPECTIVE(BLOCKCHAIN)

bitcoinboss (25)in #inscoin • 6 years ago

INTRODUCTION: Insurance has been in existence right from the 14th century, the first known insurance contract dates from Genoa in 1347. By simple definition, insurance is an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specific loss, damage, illness, or death, in return for payment of a specified premium; it is a thing providing protection against a possible eventuality.
A business lecturer once said and I quote, "Everything in life is a risk, even living is a risk, and therefore the need for insurance". Insurance currently has so developed and advanced into various sectors of life and business, and so has its unique and general problems developed too, just like every other living or working structure. Insurance problems or issues list from certification issues, to forgery and insurance fraud cases, to mention but a few, and this is where the KNOX project steps in.

THE KNOX PROJECT: The KNOX project, which is on its journey of being the first insurance project built on the BlockChain technology, intends to create a revitalized insurance sector in it's bid to find lasting solutions to the problem of certification and anti-forgery of insurance policies. The main agenda of KNOX is a "decentralized insurance system", which would transform traditional insurance policies from paper into smart contracts. As we all know that certified transactions in the BlockChain cannot be falsified, so will the certification of insurance documents not be falsified if built and recorded in the BlockChain ecosystem, and this is the point that the KNOX project is driving to.

INSCOIN: The KNOX-BlockChain project will be kicked off using the INSCOIN token which will be built on the Ethereum smart contracts platform. Being the fundamental part of the KNOX project, the INSCOIN token will be used by customers to pay insurance premiums and also access the maximum degree of authenticity of the insurance policy, by receiving it in the form of smart contract.

official youtube video:

Why can Blockchain change the Insurance Industry?

Tokenation and ICO Details

The platform native token is an ERC20 compliance utility token which will be use by cotumers to pay premiums also access the maximum degree of policy authenticity with the help of smart contract.
All unsold token will be burn after the ICO and this will further improve the value of the token.

ICO Details

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