With the advent of the digital age, the insurance industry has seen radical changes in the way things are done. Gone are the days when words of mouth were the only means guarantee that a transaction or commodity has been insured. Now, insurance premium has lots of paperwork with signatures hurdled with double-dealings which could take a long time and expert services to uncover. Also, there is the problem of parties defaulting in payment. The insurance industry, like its banking counterpart, requires a lot of transparency which is unattainable with the current arrangement.
About the InsCoin Project for Knox.
KNOX Project will be the first insurance company to combine the real world with the digital world using Blockchain technology, and will create the most efficient and sophisticated structure in the sector, to find solutions for certification and anti-counterfeit insurance policies.
The KNOX platform, built on the impregnable blockchain technology, provides an avenue for both parties — the insurer and the insured — to reach an agreement which is not susceptible to any sharp practices and without any delayed payments. It eliminates the use of the conventional paperwork arrangement and its inherent flaws. It uses a smart contract which is executed the moment the terms of the agreement are fulfilled.
Payment is usually the hotbed of any contractual arrangement. The KNOX platform uses the INSCOIN token — a digital coin based on the reputable Ethereum ERC20 technology. This is the basis of the smart contract highlighted earlier. With the token, individuals can pay for their insurance premium and coverage is certified automatically.
Pre-ICO starts: June 23, 2018
Pre-ICO ends: July 7, 2018
Soft Cap: 4’000 ETH
Hard Cap: 39’444 ETH
Tokens for sale: 270’000’000 ISNC
Total Supply: 500’000’000 INSC
Exchange rate: 1 ETH = 5’000 INSC
Pre-sale Price: 1 INSC = 0.0002 ETH
Accepted currency: ETH
Bonuses: Up to 30%
Tokens not allocated with the conclusion of the ICO will be degraded
Token Allocation In Below Image
For more information about the KNOX or INSCOIN, you can visit the following links :
Website : https://www.inscoin.co/
Whitepaper : https://inscoin.co/assets/content/whitepaper_en.pdf
Bitcointalk Username: blocklancer8
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1059014