bimpzy: INSCOIN Introduction of Blockchain Technology at KNOX Company

The introduction of blockchain technology over the years has been a welcome development. There are many problems facing most sectors prior to the introduction of blockchain technology. Centralization has caused problems where some of these problems are what we have seen in most of our financial institutions ranging from several banks to insurance companies. Prior to the introduction of blockchain technology transactions and document certification made in insurance companies manually, it did not involve the use of digital currency which has led to a series of problems such as bad policies, forgery, insecurities that should not happen in insurance companies as well as misunderstandings between customers, brokers and companies .

The Way Forward

Decentralization of the insurance industry should have been initiated before now. This would have seen the chips of every party on the table without any form of avarice. The KNOX platform offers a conducive environment where terms are agreed upon and each party sticks to the stipulations set therein. Based on the highly effective blockchain technology, the KNOX platform is extremely transparent. No shady deals, unpaid premiums and the common problems witnessed in the insurance services currently peddled right now.

In insurance, how payment is made or what is actually paid is a knotty subject. In the KNOX platform, this problem is completely non-existent. The INSCOIN token, a cryptocurrency based on the Ethereum ERC20 technology, is used to for every payment on the platform. It is goodbye to unsettled insurance claims or late payment since the smart contract of the ethereum technology reached by the insurer and insured, effects the terms of the agreement immediately the insured makes payment. Users can’t get cheated no matter who they are dealing with.

The Team

This is a great company that introduces the addition of blockchain technology to existing methods previously used with the use of crypto currency to find possible solutions to fraud issues, certifications, and other issues appearing on the platform. The policy adopted by Knox Company will support the old method and the new implementation to solve the problems facing the insurance company. The KNOX insurance company will be located in the following places, Lisbon, Dubai, and the Bermuda Islands to allow free operation without any restrictions

Blockchain technology is very important for insurance companies in the following ways. This saves customers from illegal activities due to decentralization. Also increase the company’s cash flow by eradicating the delay in the amount to be paid for contracts made by the customer. Also helps brokers by getting instant commissions without delay.

INSCOIN => This is the crypto currency that will be used for each activity or transaction at https://www.inscoin.co/ Insurance Company.

Token Token TOKEN =>
Token Type INSC => ERC20 (Ethereum Network)
Token Total Supply => There is a total supply of 500,000,000INSC

TOKEN SALE => Total
270,000,000INSC allocated for token sales

Exchange Rate => Token will be redeemed with value 1ETH = 5000INSC.

Soft Cap = There is an excellent 4TH ETH soft cap project for this project.

Hard cap => Hard-cap 39,444 ETH while unsold token will be destroyed after the token sale period.

PRE-ICO => Pre-Ico for initial investors starts on June 23, 2018 and will expire on July 7, 2018.

ICO => Ico starts on July 23, 2018 and ends on August 23, 2018 which is the exact period of 1 month.

There is an additional bonus that is allocated for each phase of ICO which is a good development for investors

TOKEN ALLOCATION