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Fintech Start-Up FidentiaX Introduces World’s 1st Marketplace for Tradable Insurance Policies

Bitcoin Press Release: fidentiaX is building the World’s First Marketplace for tradable insurance policies by leveraging on blockchain technology

October 14th, Singapore Fintech start-up fidentiaX is in the developmental phase of creating the world’s first marketplace for tradable insurance policies by disrupting the status quo by empowering policy holders to monetise policies on the blockchain. fidentiaX will also be setting up fidentiaX Open Source Foundation (fSOF) to proliferate the embracing  of blockchain technology for the insurance industry.

In 2016 alone, the total market size for insurance premiums in the 40 OECD reporting countries was estimated to be in the north of $3.86 trillion dollars and Asia is projected to the be fastest-growing market for life insurance with an estimated real annual compounded growth rate of 10.2%.

findentiaX

The tradable insurance market is faced with inefficiencies such as:

Lack of awareness  Policyholders are unaware that policies are tradable asset which could be sold in the open market for a higher value. In 2015, out of the US$112 billion worth of policies surrendered in the U.S., US$57 billion (estimated 250,000 policies) could be resold.

No Recognizable Marketplace – The lack of a recognizable marketplace makes it challenging for sellers and buyers to connect.

Dependency on 3rd party – In the rare occasion where seller and buyer actually connects, parties need to place trust on a 3rd party to effect the transaction.     

fidentiaX’s marketplace will be a membership-based ecosystem focusing on the key stakeholders and providing the following services:

Policy ledger – Break traditional reliance on intermediaries by creating a digital ledger for policyholders.

Trustless Marketplace – Provides a platform for buyers and sellers to connect and trade policies via the blockchain.

fidentiaX will focus on building its operations within Asia before executing its global expansion strategy. Key countries within Asia are Hong Kong, Japan, Korea, Malaysia and Singapore.

To learn more, please visit fidentiaX’s official website at https://www.fidentiax.com/ and stay updated on their Crowd Token Contribution launch announcement by subscribing to their mailing list. Stay connected through their social channels:

 Join us on Telegram Channel at https://t.me/fidentiaX
Follow us on Facebook – https://www.facebook.com/fidentiaX/
Follow us on Twitter – https://twitter.com/fidentiaX

Media Contact:
Name: Alvin Ang
Email: Alvin.A@fidentiaX.com
City and Country Location: Singapore

fidentiaX is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest

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Source: BPRB News feed
Fintech Start-Up FidentiaX Introduces World’s 1st Marketplace for Tradable Insurance Policies

#btc, aigang network, autonomous cars, bitcoin, bitcoin press release, blockchain, cryptocurrencies, cryptocurrency, digital insurance protocol, drones, insurance

Aigang Provides an Insight into the Future Proof Digital Insurance Protocol on Blockchain

Bitcoin Press Release: Digital insurance protocol, Aigang Network provides an insight into the future of insurance for new-age technology infrastructure, starting from mobile batteries to drones and autonomous cars.

August 4, 2017, Singapore – The Singapore-based leader in blockchain protocol for digital insurance, Aigang Network has unraveled its plans to revolutionize the insurance sector. The company’s plans for the future is described in its latest whitepaper (v0.3). The new whitepaper version includes many new additions and an updated roadmap. Aigang offers a fully automated insurance protocol, made possible through smart contracts and IoT devices.

The Aigang Network’s blockchain protocol provides next-generation digital insurance for Internet-of-Things (IoT) devices using Decentralized Autonomous Organization (DAO) and smart contracts. The company is making a huge headway into the InsurTech segment, preparing itself for the new wave of technology changes bound to happen in the near future. The company’s latest demo app is built on Ethereum testnet and will be preceded by its mainnet release in the near future.

Aigang’s most recent update to its whitepaper sees many important new additions that help users and investors to understand better the service and all the things it has to offer after the official launch. Some of the exciting features of the platform includes:

Investing in DAO Insurance and Token Model

Aigang offers investors a chance to diversify their portfolio by investing in pools of different products with different risk levels and potential profit. The company has launched the demo for phone batteries, which could soon be expanded to include drones, smart cars, and many other popular products.

This new model allows to directly invest in reserve pools and then trade them on the secondary market:

Peer to Peer Investment Platform

Currently in Alpha stage, Aigang’s peer to peer investment platform is being developed with several key targets in mind. It includes:

  • Perform calculation and build statistical models for needed reserves and risk assessment.
  • Tokenize the reserves.
  • To list all insurance product pools with assessed risk, predicted profit, etc.
  • Enable investors to purchase tokens for various insurance product pools.
  • Display complete investor profile: funds, projected earnings, risk and the status of each pool.
  • Allow secondary market trading.
  • Collect and monitor premiums, process claims, and payouts. This platform will be the protocol’s core, as it will enable full peer to peer insurance vision. It will cover many complex insurance parts and help automate the whole process.
  • Device data tracking and claim processes.
  • Aigang Protocol showcase: A Demo for Smartphones Battery Insurance.
  • Insurance Pricing simulation with Machine Learning (Machine learning techniques will be used to capture the significant risk factors for pricing).
  • Roadmap

Device Data Tracking and Claim Processes

Aigang’s software for IoT devices is designed to alleviate a massive problem of fraud in the insurance market, which exists as a result of a lack of accurate data. The software is built for devices or product makers API’s will be used to retrieve data about the device state. The software will be able to process claims automatically, and in the event of an accident, the device will automatically register possibility and accuracy of the accident. All that the policyholder has to do is to trigger the event manually. The software uses algorithms to access data validation, damage detection, historical data and machine learning to calculate the payout and finalize the claim. Initially, there will be a support team to monitor frauds until the protocol can be moved to fully autonomous insurance driven by AI and blockchain.

Aigang Protocol Showcase: Demo Battery Insurance for Smartphones

For a showcase of blockchain protocol for digital insurance, Aigang has selected smartphones. The most common technical issue for a smartphone is battery malfunction and a trend in decreased warranty periods has resulted in many owners facing costly repairs or battery replacement. Aigang implements risk assessment software to monitor the degradation of the phone battery and once the battery reaches a critical state, the payout is automatically processed and executed by smart contracts.

Insurance Pricing Simulation with Machine Learning

Insurance Pricing simulation and machine learning, in conjunction with other conditions that will be embedded in the smart contract to govern risk selection pricing, will be key in ensuring the profitability of the portfolio, and appropriate return to investors. Machine learning techniques are used to capture the significant risk factors for pricing and to make sure that the pricing structure captures the significant risk factors of each individual policy.

Architecture of the Protocol
Based on their vision, Aigang proposed an architectural model of whole protocol and platform they are currently in the process of building, with the main goal to implement fully autonomous insurance. The company’s technical goal is to build a protocol on a blockchain which would enable community, companies, developers build insurance modules themselves, using its infrastructure.

Learn more about Aigang at – https://aigang.network
Updated Aigang Whitepaper available at – https://aigang.network/AigangWhitepaper0.3.pdf
Download Aigang Digital Insurance Demo App on Google Play Store – https://play.google.com/store/apps/details?id=com.aigang.aigangapp
Request access to download the demo app on iOS at – https://aigang-ios-testflight.herokuapp.com/
Join the Aigang Slack here – http://slack.aigang.network
Aigang on Telegram – http://t.me/aigangnetwork
Follow Aigang on Reddit at – https://www.reddit.com/r/AigangNetwork/
Aigang on Twitter – https://twitter.com/aigangnetwork
Aigang’s Bitcointalk Page here – https://bitcointalk.org/index.php?topic=1998265.0
Watch Aigang’s app demo on YouTube – https://www.youtube.com/watch?v=k4U69cNPLHY

Media Contact

Contact Name: Augustas Staras
Contact Designation: Co-Founder, Business Developer
Contact Email: Augustas@Aigang.Network
Location: Singapore

Aigang is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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Source: PR
Aigang Provides an Insight into the Future Proof Digital Insurance Protocol on Blockchain

#btc, altcoin, bitcoin, bitcoin press release, blockchain, byteball, cryptocurrencies, cryptocurrency, decentralized, digital currencies, digital currency, giveaway, insurance, p2p, p2p insurance solutions

Cryptocurrency Startup Byteball Now Offers Bot Store and P2P Insurance Solutions

Bitcoin Press Release: Byteball has recently launched an online bot store alongside its real-world insurance solutions for prediction markets.

June 9, 2017, Moscow, Russia – Moscow-based next generation cryptocurrency platform Byteball has made available an online bot store and P2P insurance for all users. The new bot store provides users with various apps with integrated chatbot interface, such as cryptocurrency exchange, flight delays oracle, sports oracle, and others created by independent developers.

Unlike traditional blockchain-based cryptocurrencies, Byteball has no blocks, hence no block size issues. Byteball uses a technology known as Directed Acyclic Graph (DAG), which bypasses scalability issues that often hamper other cryptocurrencies. With DAG, every new transaction references several previous transactions, (known as parents) by including and signing their hashes. By including its parents, each new transaction also indirectly includes and confirms all the previous parent transactions, dating back to the original transactions. As more transaction information gets added after a particular transaction, the number of confirmations registered by that particular transaction will continue to grow. This system creates a snowball effect of transactions, accurately reflected by the name, Byteball.

Byteball’s bot store offers bot developers a great level of exposure while giving consumers an easy-to-use platform to access cryptocurrency powered apps. The bot store is similar to a traditional app store, except that users can start using chatbot based apps free of charge. With the new bot store, developers can quickly develop and publish apps that offer various services through a chat interface, thanks to tight integration of chat feature with payments and smart contracts.

In addition, chatbots also bring smart contracts closer to end-users by automating their creation. The user only needs to accept the smart contract to use the app’s service. In the interest of fluidity and mass adoption, Byteball has maintained these contracts very simple and easy to read, for the benefit of regular users.

Byteball’s primary, real-world P2P application relates to prediction markets, specifically insurance. The recently launched flight delays oracle is one such example, capable of posting live information about flight delays. The information can then be used in P2P insurance to get paid if the insured flight was delayed.

Similar to the flight delays oracle, the Byteball sports oracle posts information about results of football matches and the information can then be used in P2P sports betting smart contracts. Other markets in which these oracles can be utilized includes insurance for weather events, investment ratings, and news.

Sadly, the benefits of P2P technology have so far been underutilized. Byteball aims to change it by applying the very technology to real-world scenarios in the interest of all consumers. A clever integration of P2P technology in the field of prediction insurance markets, combined with the groundbreaking new bot store will offer the industry a glimpse of the full potential of what cryptocurrencies can achieve.

About Byteball

Byteball is an initiative of a Moscow, Russia-based development team. The innovative cryptocurrency uses DAG instead of the conventional blockchain, eliminating scaling issues. Byteball is a complete cryptocurrency ecosystem launched on Christmas day, 2016.

Learn more about Byteball at – https://byteball.org
Byteball on Medium – https://medium.com/byteball
Byteball on BitconTalk – https://bitcointalk.org/index.php?topic=1608859.0
Follow Byteball on Twitter – https://twitter.com/ByteballOrg
Byteball’s Slack channel – http://slack.byteball.org

Media Contact

Contact Name: Anton Churyumov
Contact Email: byteball@byteball.org
Location: Moscow, Russia

Byteball is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

 

 

 

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Cryptocurrency Startup Byteball Now Offers Bot Store and P2P Insurance Solutions