INSCOIN FOR KNOX the 1st Blockchain based insurance company

madrauf (9)in #cryptocurrency • 6 years ago

ip.bitcointalk.org.png

About InsCoin
The insurance policies issued by Knox Insurance will be both in traditional paper form and in the form of smart contracts, allowing the customer to monitor their policies in real time, in full transparency and safety. Thanks to the platform developed by knox insurance, the policies will evolve to become fully automated and eliminate any possibility of conflict of interest between the parties involved.
InsCoin for Knox Project" aims to establish the first insurance company that will accept a Crypto (INSC) for the payment of insurance premiums, and the first that, with the help of the blockchain, will solve the problem of falsification of insurance policies.
The KNOX project will be the first insurance company that merges 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. It will be the first ever to emit insurance policies both in smart-contract and traditional paper form.
With the smart contract the spread of false insurance policies is avoided because it is the same system that issues them after receiving the payment.
With the smart contract the company won't have delay in collecting credits, as the policy is issued only after receiving the payment. This factor aims to significantly improve the management of the company itself.
With the smart contract in the event of accidents the real judge who will decide whether or not to pay them is no longer the company, which could have an opportunistic behavior, but the blockchain system that, in a totally disinterested by the human opinion, will decide if this accident is compliant with the provisions in the policy.
This benefit will be the most important as it will increase the transparency of the company towards customers.

Deflation Plan and Token Economy
15% of the supply (Broker WhoSaler reservers) will, at the end of the ICO, be temporarily blocked by a smart contract for 1 year. Starting from this basis we have foreseen a further controlled reduction of the working capital based on the sale of insurance policies.The collection of premiums in inscoin is articulated like this:
• For premiums < $ 1'000'000 1% must be paid in INSC.
• For premiums < $ 100'000 3% must be paid in INSC.
• For premiums < $ 50'000 5% be paid in INSC.
• For premiums < $ 10'000 10% must be paid in INSC.
• For premiums < $ 500 20% must be paid in INSC.
The inscoin collected per single policy, as soon as received by the company, will be blocked by a smart contract for a period of one year. After this, they will subsequently be released at a quarterly rate of 25% of the total received and used to support the increase in turnover of the three companies and ensure a healthy token economy.

Token Sale
BONUS FOR EACH STAGE
30% for the first phase.
27.5% for the second phase.
25% for the third phase.
Please note that we have also introduced bonuses based on the number of Ethereums invested.
For 10 - 29 ETH will be a +5% Bonus of INSC In addition to the periodical bonus.
For 30 - 49 ETH will be a +10% Bonus of INSC In addition to the periodic bonus.
For > 50 ETH will be a +15% Bonus of INSC In addition to the periodical bonus.
Broker
If you are a Broker contact us ([email protected]), we can provide you special bonuses.