INSCOIN Platform: A KNOX Project For The Insurance Sector
Insurance is a safeguard practice for a lot of people. This sector has been around for a lot of years and has been one of the greatest arrangement ever discovered. For a premium, one is guaranteed of financial protection. Some may find it too risky but for some, the premium is worth it, it assures a lot of people against any possible event in the future. Although the world is changing and advancing, insurance is still around clearly because as time goes by almost everything is of value, anything can be subject to insurance. Now what may change is the method of doing it. The change may be needed especially now that there are problems in dealing with insurance like Insurance Fraud or as frustratingly simple as the slow process of claiming the insurance and sometimes some disagreements regarding the policies that may be negative to either one of the parties involved. With the KNOX project and the introduction of their token, INSC, a change for a better insurance method may come to life.
What does KNOX project aim to do? The use of blockchain technology to create an effective and secured insurance company with both components of the real and digital world. Blockchain was chosen as its core technology because of the undeniable advantages of using it such as non-falsifiable certification and most importantly the accompanying smart contract that is a secured agreement yet transparent to all the parties involved and in accordance to the policies and agreements agreed upon by all the parties. The KNOX Project will specifically be basing the project on the Ethereum Blockchain and with the utilization of this, together with the INSCOIN, the future insurance company will represent a decentralized insurance system that builds trust in KNOX as well as everyone in the parties involved in the platform.
The KNOX Project will give rise to the INSCOIN platform which will act as the internal exchange platform. Through the platform, both Broker and Customer could possibly create their profiles with their INSCOIN wallet and Brokers could also possibly create profiles for their clients. Through the platform, there's also the possibility of policy being paid, verified, and authenticated. Through this platform, what the project aims to do can be effectively managed. Accompanying the project is an integral part of any blockchain-based companies and that is the token, as for KNOX it would be the INSCOIN. To protect and allow the value growth of INSCOIN after the ICO, a Deflation Plan will be hatched. The Deflation Plan goes like this; First, clients will purchase INSC to be used in the platform which is majorly used as payment for the policy which will be paid to the Insurance Broker. The Insurance Broker then will send the payment to the insurance company and KNOX Insurance will be the one to issue the policy. Funds collected, in the deflation plan, will be blocked for a year and will be released with 25 % quarterly rate. The basis of the Deflation plan will be the Broker reserve of 15 % which is the Broker WholeSaler reserves.
The INSCOIN token sale details are as follows:
Token: INSC
Price: 1 ETH = 5,000 INSC
Platform: Ethereum
Hard cap: 39,444 ETH
Soft cap: 4,000 ETH
To know more about the technical details and aspects of the project plus their latest updates, visit their official social media pages and website:
Bitcointalk Announcement Thread: https://bitcointalk.org/index.php?topic=4422850
Website: https://inscoin.co/
Whitepaper: https://inscoin.co/documents/Whitepaper-EN.pdf
Telegram: https://t.me/inscoinico
Facebook: https://www.facebook.com/INSCoinforKnox/
Twitter: https://twitter.com/INSCOINforknox
Bitcointalk Username: AmorFati
Bitcointalk User Link: https://bitcointalk.org/index.php?action=profile;u=2077040