Title: [Valpromise] Distributed Value Promise Protocol Post by: valpromise-VPP on June 06, 2018, 07:46:50 AM Info Official Website (http://www.valp.io/)Whitepaper (http://www.valp.io/) what is Valpromise ValPromise is committed to build a blockchain-based, distributed value promise contract release-trading platform. Being widely applied in insurance, financial derivatives, forecasting services and other areas, ValPromise aim to solve multi-variety and cross-region risk management issues on a global scale. Highlights
Weather Insurance : the first application in ValPromise eco Weather Index Insurance will be the first mature application in ValPromise ecology. So far, the weather insurance named Tianqibao have made a great deal of cases successfully. Tianqibao have issued over 200,000 guarantee contracts on weather risk in the past 6 months. We hope ValPromise to solve thousands of issues in weather risk management industry with its innovation.1. The solution to the lack of mature weather insurances There is almost no weather insurance product with large scale and cover the whole country in China. In the future, by means of smart contracts we plan to publish standardized digital contract so that everyone have access to hedging weather risk. 2. Inefficiency in insurance product design In China, it takes more than one month to design weather insurance products, which are designed by local meteorological departments and insurance companies mostly. ValPromise will solve this issues by smart contract. ValPromise encourages users create their own contracts. 3. High cost and low efficiency in assessing the losses It involves staffs in judging compliance conditions, determining the amount of compensation and others in traditional insurance products. However, ValPromise will realize judgment and implementation automatically by adopting the technology of smart contract, which improve efficiency significantly. 4. Difficulty in self-certification for centralized organization It is known that most weather data provided by the official judge are not traceable. Therefore, it is hard to realize self-certification for centralized meteorological data. ValPromise will aim to solve data traceability and trust issues by introducing blockchain and user consensus mechanism. 5. Lack of liquidity in OTC derivatives The liquidity of derivatives in the market is limited due to restrictions on capital policies, lack of trust mechanism and inefficiency of OTC trading. In ValPromise, the unified trading medium will break limitations of the type of currency and different regions, by providing users a trading platform that flows around the globe. 6. Unassessable OTC transaction risk It is commonly for most weather hedge products to conduct risk measurement by relying on the model of financial institutions, which causes distortions in risk management. For ValPromise, all contract transactions will be recorded by time stamp in blockchain. All transactions could be verified openly and transparently. The market consensus of risk measurement will be reached as a result. Problem of distorted risk management will be solved greatly. Title: Re: [Valpromise] Distributed Value Promise Protocol Post by: Vladdirescu87 on June 18, 2018, 11:53:49 AM ValPromise, A Possible Game-Changer in Financial Market
ValPromise is creative application of blockchain in risk management. ValPromise is designed as a blockchain-based release and trading system for distributed value promise protocol, in an effort to manage global risks variety-wise and region-wise. ValPromise, derived from the deep integration of blockchain and finance, is likely to create a free and transparent financial products market, or a finance protocol-like exchange where all financial contracts related with public indicators (weather, commodity price, foreign exchange, stock index) can be released and traded with no conditions attached. Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/valpromise-possible-game-changer-in-financial-market/ https://coinidol.com/upload/resize_cache/iblock/c95/900_900_1/c95ef757952430424220a499df489ef2.jpg |