Global Risk Exchange - Risk sharing by everyone, with everyone, for everyone

Introduction:
One thing in life, which cannot be avoided, but can be managed are risks. Risk management is mostly done via insurances for individuals and done by institutions via leveraging the derivative market. The Risk market is growing each year, but at the same time also many problems are arising.

Known Problems:
In the traditional insurance market, some problems have been known for several years without a solution so far. Those are for example:

• Centralized Product Design and Risk Pricing
• High Sales Channel Cost with a low cash efficiency
• Low operating efficiency
• User Privacy Protection
• Misleading Policy Sales and Insurance Fraud
• Moral Hazard
• ...and even more

Possible Solutions provided by Global Risk Exchange Project:
With the blockchain technology and its known advantages such as smart contracts, transperency trough transactions and traceable information, those known problems can be faced. The project called "Global Risk Exchange" (GRE) is facing those problems by doing the following:

• Complete Democratization of Insurance and Risk Management Contract Design
• Reconstruct the Insurance Value Chain and Eliminate Intermediaries
• Market Based Risk Accessment and Pricing
• Smart Contract, which ensures Payment and eliminates Counter-party Risk

GRE aims to build up a global risk exchange market. With this market, individuals, companies and organizations will be able to access, trade and manage their risks using the blockchain technology. Also GRE wants to revolutionize insurance and derivative transactions by providing a protocol for the creation of risk events, pricing, trading, information collection and oracles to verdict specific risks. By doing so, individuals, but also institutions around the world can achieve risk and return equilibrium.

With 5 participating parties, such as underwriter, insured, insurer, GRE platform and block producers, the ecosystem of GRE plans to work as follows:

The benefits of GRE are:

• Decentralized Zero Threshold
• Smart Contracts, which replaces Traditional Institutions
• Primary and Secondary Financial Markets, which enables Risk Pricing
• Distributed Database to Protect User Privacy

ICO - Sold out in 4 days:
The Global Risk Exchange project had its ICO starting from the 20th March 2018. Surprisingly GRE was sold out within only 4 days and therefore reaching its hardcap. For the ICO GRE sold so called RISK tokens in exchange for Ethereum.

• 1 RISK token was priced at 0,00001 ETH
• In total 1,500,000,000 RISK was sold
• ICO was held on leekico and was sold out in 4 days

Uses of the RISK Token:
The RISK tokens will be used for every transaction on the GRE platform. RISK tokens serve among others as transaction fees on the GRE platform. Furthermore RISK tokens are also rewarded for individuals and organizations when they refer new customers, who will trade on the plattform and therefore create transaction fees. Another thing where RISK tokens will be used for is to reward developers, who contribute with new codes.

The Team:
Here you can see the team, which is working on the Global Risk Exchange project. What can be seen in their profiles is that they have great experiences in in the risk sector. That no only includes a lot of experience in the insurance industry, but also great expertises in the financial section. For more information on the team, check out their official website.

Roadmap:
Below you can find the Roadmap for the Global Risk Exchange project. Basically so far key developments and the creation of an APP for iOS and Androind has been done. Also the Token sale has been concluded. Currently they are working on a mobile wallet, as well as the Public Chain Oracle and Reality Keys. For the third quarter of this year, further developments regarding an alpha version as well as moving the project to the public chain can be expected. For further details on the roadmap, please take a look below. A more detailed roadmap will probably be published on time by the GRE team. So stay tuned for updates.

My Opinion:
In my opinion the Global Risk Exchange project is a great project with a great project idea. We currently face so many problems in the Global Risk market, that needs to be solved. Thanks to the blockchain technology, finally new opportunities open up for projects like GRE. With the project beeing sold out in only 4 days and therefore reaching their hardcap, I'm very positive and excited for this project. I highly think that with further development, the GRE project will have great success, if they can deliver their goals indicated on the roadmap. For that stay tuned for further updates.

Further Information:
Want to know more about the Global Risk Exchange project? Take a look at their official website and their whitepaper for more information. Also subscribe to their official communication channels to stay up to date. Any questions, feel free to comment below.

Website: https://www.gref.io/
Whitepaper: https://www.gref.io/gre.whitepaper.en.pdf
Twitter: https://twitter.com/GRE_RISK
Facebook: https://www.facebook.com/GRE-Foundation-2080066572230352/
Telegram: https://t.me/GREF_EN

My Bitcointalk Profile (Rano): https://bitcointalk.org/index.php?action=profile;u=1609093
My ETH: 0xFc58f16Ab51A635fdb06b4Db14E59ad994884AD7