With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, INZURA, the world's first ever insurance token that is built with best in class protocol implemented to protect the crypto asset has arrived.
"The insurance industry will still have obstacles to overcome, but blockchain’s ability to provide complete accountability, transparency and superior security will help insurers save time and money, as well as improve customer satisfaction.
Insurance companies face a number of challenges as it relates to complex compliance issues, limited growth in mature markets, fraudulent claims activity, third party payment transactions and handling huge amounts of data. With the onset of connected devices and the ever-growing amount of data generated by the Internet of Things (IoT), insurers have to sift through the data that matters in order to deliver tailored services and products. Insurers must also evolve from a focus on purely financial-loss compensation to a mode of physical-risk prevention in order to compete effectively with disruptors in the space. This can only be achieved if they have visibility into their data."
With that being said, with successful protocol and strategy of INZURA, there is potential benefit to welcome new users without fear of losing their valuable hard earned money.
But before we go any further, please check out this video presentation to get even more acquainted
Now that I have your attention, let’s get right to it.
What exactly is INZURA?
As depicted above and as indicated on the official whitepaper of INZURA, INZURA is the world's first ever insurance token that is built with best in class protocol implemented to protect the crypto asset. INZURA is the world's first crypto insurance where you can claim your loss of cryptocurrencies with INZURA token. With best protocol implemented, INZURA made it possible to give best in class protection for your cryptocurrencies. With successful protocol and strategy of INZURA, there is potential benefit to welcome new users without fear of losing their valuable hard earned money.
In addition, INZURA is built on Ethereum smart contract which is one of the best platforms for smart contract available in the market. INZURA is an ERC20 token that runs on Ethereum blockchain. INZURA not only protects your cryptocurrency, but also gives protection to ongoing ICOs and so there will be no fear of scamming and losing your valuable money.
About The Main Goal
The main motive of Inzura is to protect the user's crypto asset and to increase the new users to the crypto market. The goal of Inzura is to raise the market capitalization to trillions that can be achieved just when a minimum 10% of the world's population starts using cryptocurrency. How does new users come into the crypto market, it is when they have no fear of losing the crypto asset and when institutional money gets into crypto market. Inzura gives hope of asset coverage and builds the trust that their money will not be lost forever.
The below example shows the position of crypto market in current situation. When the market cap is low, big pumps and dumps takes place and the volatility of the price will be very high. If the market cap reaches to a certain high, the volatility risk will lower and will be stable. Inzura will work towards the goal of reaching highest market cap than other markets such as stocks and commodity.
Impending Challenges and Solutions Offered by INZURA
"HACK" and "SCAM" are the most known words in the crypto space. Crypto market has gone through lots and lots of hacks and scams over the past years. There are few hacks that have shook the crypto market down to its very core. Roughly over 100s of mil0lion dollar worth of cryptocurrencies were lost in 2018.
Scamming and hacking most often happen in this crypto space and there is certain restriction to prevent scam and hacking, but there is no solution to stolen or lost cryptocurrencies. INZURA is here for the solution to these problems in crypto space.
Inzura offers premium with the IZA token. Once the Inzura platform is live, users can able to purchase the premiums with the IZA token they hold. The calability of the premium value can be set by the Inzura users. Users should submit the required details and documents before purchasing the premium. Once the premium is purchased and confirmed, the asset worth is calculated with the live price of IZA token with the FAP protocol. Each and every claim submitted is calculated with FAP price at the time of claiming.
Inzura gives the crypto market a potential to welcome new users and institutional members. Since Inzura protects most valuable crypto asset, more and more new users will start to use cryptocurrency without fear of losing their crypto asset. Inzura premium is designed in such a way that user's benefit is the primary task and to serve best in class and protect their asset.
Inzura provides their users with special premium renewal benefits. Unlike traditional insurance method, where institutions completely takes insurance amount from user's premium after expiration of premium validity, Inzura is built clearly to benefit users, where when premium expires, 50% of the token is refunded to user's wallet, and when a new premium is purchased within 4 days of last premium expiration, users get 20% extra token of their last premium.
Post claimant benefits have been initiated, where if the worth of the premium is higher than the worth of the crypto asset in the exchange at the time of claimant, the balance IZA token will be refunded to user's wallet.
About The INZURA Token
Inzura is an ERC20 token which serves as an insurance token for your crypto asset. Inzura takes the crypto space to next level the way people see cryptocurrency. Inzura provides protection to your crypto asset by insuring your crypto asset like never before. Inzura is the world first token which serves as crypto insurance where you can cliam the lost/hacked/scammed cryptocurrency.
MAX SUPPLY: 120,000,000
SOFT CAP: 1 Million USD
HARD CAP: 20 Million USD
PAYMENT METHOD: ETHEREUM [ETH]
TOTAL TOKEN FOR SALE: 72,000,000
ETH PEGGED: 200 USD
Q3 2017 Initial Phase
The initial phase of INZURA started in the mid Q3 of 2017
Q3 2017 Team Setup
The team setup and community formation process were undertaken
Q4 2017 Protocol
The protocol buildup process is done and every possible protocol is tested with cryptocurrency
Q4 2017 Concept
Concept is built and finalized with blueprint
Q4 2017 Testing
The protocol finalized and tested and minor and major errors were rectified
Q1 2018 Token Mechanism
Token function and mechanism is structured to its perfection
Q2 2018 Testnet
Token generated in the testnet and tested for token mechanism and rectified the errors
Q3 2018 Registration
Company registration and domain registration completed
Q4 2018 Token Generation
Token Generation in Mainnet
Q4 2018 Promotional Airdrop Announcement
As part of marketing, Promotional Airdrop is conducted on website launch day
Q1 2019 ICO Sale Announcement
Initial Coin Offering date and time is announced and the tokens are distributed to the users
Q2 2019 Exchange Listing
Contract will be signed for listing before ICO ends and will be listed after ICO ends
Q3 2019 Platform Live
Complete INZURA platform will be available for users to purchase premium
MEET THE AMAZING TEAM
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.