InsCoin for Knox Project - The First Decentralized Insurance Company

damil72 (7)in #cryptocurrency • 6 years ago

What InsCoin for Knox Project ?

Knox is a crypto project which aims to establish the first insurance company that accepts a Crypto coin a form of payment in the insurance industry. Their crypto coin named Inscoin (INSC) INSC coin will be the crypto coin for the payment of insurance premiums on the blockchain platform. In fact, The KNOX project will be the first insurance company that is going to merge the real world with the digital world with the help of blockchain technology. Knox project expects to solve existing problems in the insurance sector following this method. certification and anti-forgery of insurance policies are can be recognized as major problems in the insurance sector and Knox project plans to eliminate such problems using the advanced features of blockchain technology.

Knox insurance will be issued both in traditional paper and in smart contracts as well. Then what happens is, The client can monitor Knox policies in real time. This is really a great thing that can happen in the insurance sector as full transparency and safety will be occupied in the insurance sector hereafter. Because There is no room for conflicts to be created between the parties who are involved in the insurance sector.

As the smart contract introduced to the system false insurance will be avoided Because there can't be a different system for clients after the payments. on the other hand, Company won't have any delay in collecting credits, Because policies will be issued only after the client's payment.

The most important factor of this new system. It cuts opportunistic behavior of humans. The blockchain system never considers human opinion. Blockchain system will take the decisions according to the policy. nothing else. This method will surely enhance the company's transparency to the clients.

How It Works?

First, Knox issues a paper-based policy and there will be a serial number of the policy and a unique bar code, Then the beneficiary should activate the policy on the platform. activation can be done by entering enter the serial number and the code which you got on the paper. Once you successfully entered the correct data you will see a certified PDF file and terms and policies are stated on it. It will also certify the coverage and authenticity. Then the contractor can pay the premium and then Knox insurance policy will issue the policy in a smart contract form. This is how it brings the fully transparent and secure system to the insurance sector.

Team

Advisors

Road Map

Token Details
Token Name: INSC
PreICO Price 1 INSC = 0.0002 ETH
Price 1 INSC = 0.0002 ETH
Bonus - Available
Platform - Ethereum
Accepting ETH
Minimum investment - 0.1 ETH
Soft cap - 4,000 ETH
Hard cap - 39,444 ETH
Country -Estonia