[PRE-ANN] INCHAIN. Ethereum based insurance platform

[Sergey_Inchain]

Interesting project.
Will be promotion by Twitter, Facebook etc.?

Of course, give us some time to prepare it and watch our blog: https://medium.com/@inchain

[Sergey_Inchain]

[CryptoCopper]

Guys, because of your product and in order to write this message I have finally decided to register here. So, hope you don't disappoint me  

Hey, many thanks for this. We won't disappoint you

Nice to hear it. But, guys, how are you going to solve all possible problems with the states and laws in future? I just cannot get this point  

[Inchain.io]

Guys, because of your product and in order to write this message I have finally decided to register here. So, hope you don't disappoint me  

Hey, many thanks for this. We won't disappoint you

Nice to hear it. But, guys, how are you going to solve all possible problems with the states and laws in future? I just cannot get this point  

Good question. As you know, the crypto world is not regulated yet. Once the regulation takes place, we will most likely have to comply with AML and KYC. The same would apply to exchanges, wallets etc.

[Sergey_Inchain]

You need better tread design, guys. Now its look not very worthily.

Check out our new slides at the OP!

[Sergey_Inchain]

Guys, we are listed: https://www.ico-list.com 

[CryptoCopper]

Guys, because of your product and in order to write this message I have finally decided to register here. So, hope you don't disappoint me  

Hey, many thanks for this. We won't disappoint you

Nice to hear it. But, guys, how are you going to solve all possible problems with the states and laws in future? I just cannot get this point  

Good question. As you know, the crypto world is not regulated yet. Once the regulation takes place, we will most likely have to comply with AML and KYC. The same would apply to exchanges, wallets etc.

Yeap, you are right but at least there are tax regulations as well as requirements regarding business etc. But for now I am satisfied with your respond. Good luck, guys!!

P.S. With regard to design I really think that it was and it is quite nice. Moreover, I always think that it is about product, not design. Hm..

[Cryptorials]

Guys, because of your product and in order to write this message I have finally decided to register here. So, hope you don't disappoint me  

Hey, many thanks for this. We won't disappoint you

Nice to hear it. But, guys, how are you going to solve all possible problems with the states and laws in future? I just cannot get this point  

Good question. As you know, the crypto world is not regulated yet. Once the regulation takes place, we will most likely have to comply with AML and KYC. The same would apply to exchanges, wallets etc.

Isn't AML / KYC for money transmitters? Surely Insurance would have to comply with different regulations, such as keeping certain levels of reserves to make payment? If the money is there on the blockchain in a provable way that one shouldn't be a problem of course but I don't know if there are others.

[penniless1]

Guys, because of your product and in order to write this message I have finally decided to register here. So, hope you don't disappoint me  

Hey, many thanks for this. We won't disappoint you

Nice to hear it. But, guys, how are you going to solve all possible problems with the states and laws in future? I just cannot get this point  

Good question. As you know, the crypto world is not regulated yet. Once the regulation takes place, we will most likely have to comply with AML and KYC. The same would apply to exchanges, wallets etc.

Isn't AML / KYC for money transmitters? Surely Insurance would have to comply with different regulations, such as keeping certain levels of reserves to make payment? If the money is there on the blockchain in a provable way that one shouldn't be a problem of course but I don't know if there are others.

AML/KYC applies to insurances.  Had to take courses every bleeding year and I was managing a low-risk category of insurance (health).

[Sergey_Inchain]

http://forklog.net/inchain-set-to-provide-assets-insurance-at-cryptocurrency-exchanges/

[Sergey_Inchain]

Guys, let's join to our FB: https://www.facebook.com/groups/inchain/
follow our twitter: https://twitter.com/Inchain_dot_io
read our blog: https://medium.com/@inchain

[CryptoCopper]

Guys, because of your product and in order to write this message I have finally decided to register here. So, hope you don't disappoint me  

Hey, many thanks for this. We won't disappoint you

Nice to hear it. But, guys, how are you going to solve all possible problems with the states and laws in future? I just cannot get this point  

Good question. As you know, the crypto world is not regulated yet. Once the regulation takes place, we will most likely have to comply with AML and KYC. The same would apply to exchanges, wallets etc.

Isn't AML / KYC for money transmitters? Surely Insurance would have to comply with different regulations, such as keeping certain levels of reserves to make payment? If the money is there on the blockchain in a provable way that one shouldn't be a problem of course but I don't know if there are others.

Agree. Requirements of keeping certain levels of reserves to make payment are enough reasonable for me. By the way, usually in order to start insurance business you are required to get relevant license. At the same time I think situation differs state by state. But I am not very big specialist in this sphere. Nevertheless, I think you can deal with this and find solution. Just want to wish you good luck

[Inchain.io]

Guys, because of your product and in order to write this message I have finally decided to register here. So, hope you don't disappoint me  

Hey, many thanks for this. We won't disappoint you

Nice to hear it. But, guys, how are you going to solve all possible problems with the states and laws in future? I just cannot get this point  

Good question. As you know, the crypto world is not regulated yet. Once the regulation takes place, we will most likely have to comply with AML and KYC. The same would apply to exchanges, wallets etc.

Isn't AML / KYC for money transmitters? Surely Insurance would have to comply with different regulations, such as keeping certain levels of reserves to make payment? If the money is there on the blockchain in a provable way that one shouldn't be a problem of course but I don't know if there are others.

Agree. Requirements of keeping certain levels of reserves to make payment are enough reasonable for me. By the way, usually in order to start insurance business you are required to get relevant license. At the same time I think situation differs state by state. But I am not very big specialist in this sphere. Nevertheless, I think you can deal with this and find solution. Just want to wish you good luck

Thanks for the comments, appreciate it.
You are totally right about reserves, which are according to Solvency II Directive should be 20-25% of the risks insured. In our case, we can easily meet these requirements as we receive investments as payments for the bonds. Thus in ideal world when the all bonds are sold we have 100% reserves.
Regarding the licences, it is quite difficult to get those, however, the crypto economy is out of the scope of the regulations. With all relevant advantages and disadvantages, we definitely can launch our platform keeping an eye on the regulators and apply for the licences if we have to.

[Gss2k2]

I like that someone is doing an insurance market, but if u are looking for income, why dont you also open a bond market? Maybe a dev could issue btc bonds and pay coins/tokens as interest. Let the market determine the yield. It could be an alternative to the 2nd and 3rd ico people are doing lately.

[adonai]

still not enough info in first post. where can i find your whitepaper?

[Inchain.io]

I like that someone is doing an insurance market, but if u are looking for income, why dont you also open a bond market? Maybe a dev could issue btc bonds and pay coins/tokens as interest. Let the market determine the yield. It could be an alternative to the 2nd and 3rd ico people are doing lately.

It is a fair point. Bonds and other fixed-income instruments are something the market is missing now. However, there should be underlaid assets, business or something else generating revenue and/or creating value.

[maju69]

just wait for bounty and campaign update info

[Kazadar]

still not enough info in first post. where can i find your whitepaper?

The link is in the OP

https://drive.google.com/open?id=0B2p42p0_z54DQ0w1MGdkRmhyMU0

[Inchain.io]

still not enough info in first post. where can i find your whitepaper?

The link is in the OP

https://drive.google.com/open?id=0B2p42p0_z54DQ0w1MGdkRmhyMU0

http://ico.inchain.io/app/docs/whitepaper.pdf

[Sergey_Inchain]

just wait for bounty and campaign update info

development in progress...