[PRE-ANN] INCHAIN. Ethereum based insurance platform

[Sergey_Inchain]

How to claim your bounty ..  just send proof 

https://medium.com/@inchain/facebook-twitter-campaign-details-cc89915583c7

Please Check there

joined twitter and FB campaign, when ico end?

We already invited two very trustable escrow. For now we build clear rules to manage of ICO investments. Likely Inchain OCI will starts at end of September and it's duration will about 4 weeks.

[1715225471]

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[1715225471]

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[1715225471]

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[oleksii]

Given what's occurred with the Kryptonite project (ETH-based, smart contracts, etc that was hijacked after not paying ransom), I would like to know how your team plans to secure INCHAIN from the generation of false tokens on a high hash-rate fork that could eventually overwhelm the startup blockchain?

Kryptonite (I found only one such blockchain project, fix me if you are talking about something else) was a blockchain project without any relation to ETH or smart contracts. INCHAIN tokens will not have separate blockchain, and will not have mining concept. As long as Ethereum itself is alright, all stated points won't be able to affect INCHAIN in any way.

Oleksii,
INCHAIN smart contracts engineer

[len01]

joined inchain twitter and facebook bounty, gl dev

[Inchain.io]

Do you have any advisores with an insurance background?

How do you plan on calculating the risks/price? Normal insurance appraisals can be difficult but they have many years of data and models to base things on. As this havent been done before, how do you make sure the price matches the risk?

Also how do you spot a false claim? I am guessing there will be countless attempts to exploit the system.

I really like your idea as it will help the blockchain ecosystem a lot, but my main concern is whether or not it can be run well enough to make a profit.

Yes, we do have such advisors. Our model is based on the past and real-time events. Obviously, we will run a number of surveys to find out how much people are willing to spend on the policies and what return investors expect.

Every claim can be satisfied only if the smart contract initiates it (the oracle has identified the case) and the transfer is signed by the insurance committee.

We expect to receive profits mostly from the fund management activities.

[hevra]

waiting for signature campaign

[rindo]

We already invited two very trustable escrow. For now we build clear rules to manage of ICO investments. Likely Inchain OCI will starts at end of September and it's duration will about 4 weeks.

Nice..that will make people trust about this ICO and I hope many people interested about this project and hit a good investment 

[Gss2k2]

What are you planning to do with the insurance reserve money? Will it be kept in cold storage or invested?

[penniless1]

Do you have any advisores with an insurance background?

How do you plan on calculating the risks/price? Normal insurance appraisals can be difficult but they have many years of data and models to base things on. As this havent been done before, how do you make sure the price matches the risk?

Also how do you spot a false claim? I am guessing there will be countless attempts to exploit the system.

I really like your idea as it will help the blockchain ecosystem a lot, but my main concern is whether or not it can be run well enough to make a profit.

Yes, we do have such advisors. Our model is based on the past and real-time events. Obviously, we will run a number of surveys to find out how much people are willing to spend on the policies and what return investors expect.

Every claim can be satisfied only if the smart contract initiates it (the oracle has identified the case) and the transfer is signed by the insurance committee.

We expect to receive profits mostly from the fund management activities.

Forgot to ask - you have certified actuarial support on board then?

(Loved my former actuarial team.  Poor dears work so hard nowadays to make insurance products even remotely attractive and profitable).

[Sergey_Inchain]

What are you planning to do with the insurance reserve money? Will it be kept in cold storage or invested?

Insurance fund will be divided into two parts, first cold stored will be used for insurance payments and bonds coupon, the second part will be used for investment

[Sergey_Inchain]

Do you have any advisores with an insurance background?

How do you plan on calculating the risks/price? Normal insurance appraisals can be difficult but they have many years of data and models to base things on. As this havent been done before, how do you make sure the price matches the risk?

Also how do you spot a false claim? I am guessing there will be countless attempts to exploit the system.

I really like your idea as it will help the blockchain ecosystem a lot, but my main concern is whether or not it can be run well enough to make a profit.

Yes, we do have such advisors. Our model is based on the past and real-time events. Obviously, we will run a number of surveys to find out how much people are willing to spend on the policies and what return investors expect.

Every claim can be satisfied only if the smart contract initiates it (the oracle has identified the case) and the transfer is signed by the insurance committee.

We expect to receive profits mostly from the fund management activities.

Forgot to ask - you have certified actuarial support on board then?

(Loved my former actuarial team.  Poor dears work so hard nowadays to make insurance products even remotely attractive and profitable).

We found some candidates and now we discuss with them terms of cooperation

[karmakeddon]

Sergey, couple of questions. What will be our target market? And also, what is the target region of the project? And since there is no mining for this, how do we, the future investors store our credits? Will you have a gui wallet included as well?

[davide72]

i would love to translate your thread to italian! let me know if you could reserve it to me!
regards!

[Und3rw00d]

Guys, I am afraid you missed my question

I have one more question Are you going to issue tokens after ICO as well as during it or not?

Hi

100M is the total number.

Guys, I am afraid you missed my question

I have one more question Are you going to issue tokens after ICO as well as during it or not?

we have all infra ready for this, but users will get an ability to use their Inchain tokens directly after ICO ends

So, users will get possibility to use tokens in exchanges, right? Or just as asset to get %?

After ICO ends Inchain tokens will be tradeable in exchanges. I think there will two or tree exchanges where Inchain tokens will be listed

Do you consider Poloniex as possible exchange to enter?

[Tastiger]

Given what's occurred with the Kryptonite project (ETH-based, smart contracts, etc that was hijacked after not paying ransom), I would like to know how your team plans to secure INCHAIN from the generation of false tokens on a high hash-rate fork that could eventually overwhelm the startup blockchain?

Kryptonite (I found only one such blockchain project, fix me if you are talking about something else) was a blockchain project without any relation to ETH or smart contracts. INCHAIN tokens will not have separate blockchain, and will not have mining concept. As long as Ethereum itself is alright, all stated points won't be able to affect INCHAIN in any way.

Oleksii,
INCHAIN smart contracts engineer

Try Krypton, krcoin.
I think that is what is meant here. And now from what I understand there is a security issue for any newer ETH based project without very high hash securing it.

T.

[Kazadar]

Given what's occurred with the Kryptonite project (ETH-based, smart contracts, etc that was hijacked after not paying ransom), I would like to know how your team plans to secure INCHAIN from the generation of false tokens on a high hash-rate fork that could eventually overwhelm the startup blockchain?

Kryptonite (I found only one such blockchain project, fix me if you are talking about something else) was a blockchain project without any relation to ETH or smart contracts. INCHAIN tokens will not have separate blockchain, and will not have mining concept. As long as Ethereum itself is alright, all stated points won't be able to affect INCHAIN in any way.

Oleksii,
INCHAIN smart contracts engineer

Try Krypton, krcoin.
I think that is what is meant here. And now from what I understand there is a security issue for any newer ETH based project without very high hash securing it.

T.

51% attacks are an issue for all PoW coins with low hash rate. Its a PoW issue not a blockchain issue.
51% attacks are also possible on PoS coins but not as likely.

[join2]

desains cools

[Sergey_Inchain]

[Sergey_Inchain]

Sergey, couple of questions. What will be our target market?

all members of the crypto economy who using external crypto services like exchanges and web wallets to store their crypto assets

And also, what is the target region of the project?

no borders))

And since there is no mining for this, how do we, the future investors store our credits? Will you have a gui wallet included as well?

hm, I don't understand your question. Can you pls detail it.

Will you have a gui wallet included as well?

There will web GUI and MIST abilities. Maybe we will run mobile app, but there is Apple who doesn't like crypto tokens)

[Sergey_Inchain]

Guys, I am afraid you missed my question

I have one more question Are you going to issue tokens after ICO as well as during it or not?

Hi

100M is the total number.

Guys, I am afraid you missed my question

I have one more question Are you going to issue tokens after ICO as well as during it or not?

we have all infra ready for this, but users will get an ability to use their Inchain tokens directly after ICO ends

So, users will get possibility to use tokens in exchanges, right? Or just as asset to get %?

After ICO ends Inchain tokens will be tradeable in exchanges. I think there will two or tree exchanges where Inchain tokens will be listed

Do you consider Poloniex as possible exchange to enter?

Yes, we will try it

[Gss2k2]

Can you give a potential alpha, beta and launch date of the platform?