Tuesday 22 May 2018


Why Blockchain and Its Advantages
Blockchain technology leverages a sharable distributed ledger to store transaction data,issuing crypto-currency and implement intelligent contracts. Its main advantages are:
Decentralized, transaction information written into the block cannot be tampered with, providing true and reliable information records.
Smart contracts can be automatically executed without human intervention
All Information is transparent and can be traceable
Blockchain technology will undoubfully redefine insurance and financial derivatives market and become the underlying operating system for insurance and financial derivative markets in the era to come
How Blockchain Technology Redefines InsurancePersonalized
Everyone in the blockchain can publish personalized insurance needs, and leverages the smart contract to match corresponding insurance capacity, which leads to a truly customized insurance protection for everyone.
Deconstruct Insurance Company, Improving Efficiency Deconstruct a traditional insurance company into three parts: sales channel, actuarial ability to design insurance contracts, and insurance capacity. For sales channels, more sales are initiated by people in need of insurance instead of selling to a group of people same product. Acturaries in insurance companies are free to publish their own products on the blockchain and let the market determine which one sells and profit from transaction fees incured, therefore bypassing tedious internal approval process. By encouraging any funds that are capable of providing insurance capacity, any individual,company or organizations can leverage its risk pricing ability to profit and maximizing capacity for specific risks.
Global Risk Exchange(or "GRE") is a blockchain based, decentralized global risk contract market and public chain, with the purpose of helping individuals, companies and organizations to freely hedge, transfer and trade their risks. GRE completely reconstructed traditional risk management industry(insurance and derivative markets) in a decentralized way, and will become the underlying operating system to support insurance and derivative transactions in the era of blockchain.
Blockchain based GRE platform will transform the essence of risk management transactions into a trading market where risk sellers and risk takers can trasact directly using blockchain technology. It compresses the elongated chains of the traditional insurance industry while minimizing thresholds, providing maximum liquidity and most accurate pricing of risks.
2018 Q1
1.GRE-Core development
2.Centralized Oracle development
3.Demo of GRE App development
4.Demo version of App-server development
2018 Q2
1.HI editor development
2.Mobile wallet development
3.Official App development
4.Continue GRE-Core and Oracle development
2018 Q3
1.Development of Alpha Edition
2.Provide API & SDK
3.Security audit
4.GRE test running
2018 Q4
1.Basic RDHI library content production
2.KYC related development
3.Security audit
4.Complete migration to public chain
5.Formal operation of the GRE primary market
2019 Q1
1.Development of secondary market editor
2.Content production of secondary market base
3.Secondary market security audit
4.Complete development of the Alpha version of secondary market
Paul Qi
Actuarial master of Boston University, has worked for many years in the United States as actuary.Founder and CEO of OK auto insurance and has extensive influence in the global insurance technology circle.
Charles Huang
Morgan Stanley Asia Pacific Investment banking sector TMT industry analyst,investment professional at IDG Capital fintech team, fintech and enterprise service entrepreneurs.
William Jin
Senior architecture & technical leader at Shanda and Co-founder and CTO of OK auto insurance.
Angela Li
Master of Finance at Fudan University and has 3 years investment experience in start- ups focusing on fintech and healthcare.
Mara Wang
International MBA at NEOMA Business School. Experienced director of marketing and public relations with a demonstrated history of working in global Fintech industry. Previously worked as director of marketing and PR at InsurBox Tech, a leading insurtech start-up in China, and a leading futures trading broker in China.
Alberto Pedro Gabriel
Chairman of GRE Foundation,chairman of Argentina's leading local life insurance company CRUZ SUIZA COMPA IA DE SEGUROS S.A.and has three insurance broker licenses in Argentina, Brazil and Uruguay.
Frank Desvignes
Founder and CEO of AXA Asia Research Institute.
RISK Token
Generation of RISK
Initially,GRE will generate a total of 10 billion(10,000,000,000) RISK tokens based on Ethereum ERC20 standard. GRE Foundation will be considered as the initiator of all RISK tokens.Users could acquires RISK through airdrop and cryptocurrency exchanges after RISK is released.
Usage of RISK
RISK is a utility token which may only be used on GRE platform for payment by users to participate in the risk management contracts and payout of claims or results according to oracles. Different partcipants(insured, insurer, and contract designer) hold different amount of RISK,according to their respective requirements.
Conversion of RISK
In consideration of the high transaction costs and long block confirmation time of
Ethereum,GRE will develop its own public chain based on Graphene blockchain tool kit.After the completion of public chain development, all ERC20 standard RISK tokens generated on Ethereum will be recoverted to tokens on GRE's public chain in a 1:1 ratio.
For more information please visit:
Bounty thread:https://bitcointalk.org/index.php?topic=3865805.0
DISCLAIMER:This post was brought to you by Opeyemi being my personal project on GLOBAL RISK EXCHANGE campaign project

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