* INSCOIN * Foremost Insurance Blockchain

- July 16, 2018

When you ask about Which Insurance projects are Safe?

I will reply INSCOIN.

Because INSCOIN is a very Safe, Efficient project.

Let me explain !!

Do you know the history of Insurance?

Insurance is one of the oldest industries and can be seen as part of the growth of modern business that comes to define communities around the world. While insurance in the form we know today began with the first insurance agreement in 1347, methods have been observed for the transmission and distribution of risks in the Chinese monetary economy in the third millennium BC. One thing that has determined the insurance sector for thousands of years is its ability to adapt its practices to fit the changing technological landscape. From contracts written on parchment to websites and large data, the industry has changed rapidly.Blockchain is the latest technology player switch to include images, and many predict that distributed executives can have an in-depth effect on how insurance companies can work. An important issue that seems to be designed by blockchain technology is the underlying principle of good faith in insurance contracts. This principle states that every party who has an insurance contract has a legal obligation to act with a standard of "greater honesty" than usual in most commercial contracts. "This means that insurance companies are obliged to believe that they are told the truth of people who want to take out insurance.It is different from other contracts, which are usually based on the principle of 'let the buyer beware.

ABOUT INSCoin:

INSCoin is an ambitious project that aims to revolutionize the insurance industry! In fact, from a proven knowledge of business and combined with Blockchain implementation, through Smart Contract, the InsCoin For Knox Project will succeed in its goal:

- Maximum trust and transparency in the relationship between the Company and Insurant

- Fighting Policy Fraud

- Issue an automatic and decentralized insurance policy

Why can Blockchain change the Insurance Industry?

Blockchain in public implementation solves a fundamental problem in creating networks without trust and without permission, where participants can consider valid transactions, and therefore may be related certifications, thanks to the approval mechanisms generated by the incentive system and disincentives among the parties involved. Certification of non-certified documents is one of the most important applications of Blockchain technology, since documents certified in Blockchain are NEVER falsified.

With smart contracts, the spread of fake insurance policies is avoided because it is the same system that issues them upon receipt of payment. With smart contracts, the company will not have any delay in collecting credits, since the policy is issued only after receiving payment. This factor aims to improve the company's management significantly.

In inscoin for knox we want to do something different, we are big fans of decentralized platforms, in fact we will rely on Ethereum network for the deployment of our Smart contract but behind our inscoin tokens will be formed from 1 to 3 companies based on the amount of ETH collected, remember that in real world companies need a security fund of several million dollars to be legally regulated, tokens received from policy payments will be blocked through Intelligent Contract for the first year after payment and then released at a rate of 25% per quarter. This economy, supported by an increase in the turnover of insurance companies, will lead to a decline in current supply and strong deflation, increasing the value of tokens in the market.

KNOX PLATFORM