[ANN] [ICO CLOSED] Inchain - insurance for the crypto economy

[SpacemanOne]

Some questions for InChain team:
- What events are you going to insure in bitsquare.io? This is decentralized exchange.

From their whitepaper:


Bitsquare holds these values in every aspect of the project:
­
- Infrastructure (P2P network ­ there are no servers)
­
- Never hold users funds (neither bitcoins nor fiat)
­
- Never hold users data (no account registration)

- How will Ethereum smart contracts handle Bitcoin bonds and insuranse policies? Ethereum smart contracts can directly control ETH or Ethereum-based tokens only.


From the interview:


Smith+Crown: Are you worried that tokenholders will decide not to engage your team for DAO committees?
That?s a very good question. It depends on the distribution of the tokens. For example, if we assume that 30% of the tokens are controlled by one person, this might be an issue. We don?t have an idea right now how we are going to deal with this. I think there should be a limit, according to which every individual can have 5% or 10% at most. We also might need to do KYC for investors.

- How will you control the tokens amount per person during the ICO?

[1714940342]

1714940342

[1714940342]

1714940342

[1714940342]

1714940342

[1714940342]

1714940342

[someone111]

1) We are selling new value coins rather than DAO tokens during our ICO

Still ETH based?

- To invest in the DAO. The DAO is not a legal entity.

Will it come with voting rights and dividends?

3) We create a legal entity, which will be servicing the platform

Will ico buyers still be owners of that?

(if you are interested I can post the detailed info at some blog later)

Sure. That makes a healthy debate. Then someone else hopefully also writes blog posts. And by reading many of them, I can hopefully adjust my prediction.

[zee11225]

Price of ICO? 

price is not necessarily, if ico sales reach the target 30kbtc, ico prices will 30ksatoshi

[syahril]

Price of ICO? 

price is not necessarily, if ico sales reach the target 30kbtc, ico prices will 30ksatoshi

wowo 30k sat is good 

[Sergey_Inchain]

Haven't followed this thread lately - have you managed to provide any proof of identity of any of the dev team? Perhaps any video interview etc?
Have you decided on escrowing funds? If so, any details?

Hi,

Yes, we already made 2 google hangouts, some fragment you can see here: https://www.youtube.com/watch?v=arYVrqo-ICI
Also, proof from Ambisafe: https://www.ambisafe.co/blog/inchain-announcement/

Next hangout is scheduled next Tuesday.

We have two escrow: https://bitcointalk.org/index.php?topic=1623519.msg16364022#msg16364022

[swisswatch]

Haven't followed this thread lately - have you managed to provide any proof of identity of any of the dev team? Perhaps any video interview etc?
Have you decided on escrowing funds? If so, any details?

Hi,

Yes, we already made 2 google hangouts, some fragment you can see here: https://www.youtube.com/watch?v=arYVrqo-ICI
Also, proof from Ambisafe: https://www.ambisafe.co/blog/inchain-announcement

Next hangout is scheduled next Tuesday.

We have two escrow: https://bitcointalk.org/index.php?topic=1623519.msg16364022#msg16364022

ambisafe link no found, escrows are good, both reliable guys.

[Sergey_Inchain]

I did my own market analysis (if you are interested I can post the detailed info at some blog later)

Thank you. You really did a good job.
It will greatable if you will post the details as soon as possible.

Let's up spend some time to explore it.

[judyrob]

waiting Inchain ICO.....

[Sergey_Inchain]

Some questions for InChain team:
- What events are you going to insure in bitsquare.io? This is decentralized exchange.

From their whitepaper:


Bitsquare holds these values in every aspect of the project:
­
- Infrastructure (P2P network ­ there are no servers)
­
- Never hold users funds (neither bitcoins nor fiat)
­
- Never hold users data (no account registration)

We still don't analyse the decentralised exchanges. I can say nothing about their risks.

- How will Ethereum smart contracts handle Bitcoin bonds and insuranse policies? Ethereum smart contracts can directly control ETH or Ethereum-based tokens only.

Redirected your question to our dev. The answer will be soon.

From the interview:


Smith+Crown: Are you worried that tokenholders will decide not to engage your team for DAO committees?
That?s a very good question. It depends on the distribution of the tokens. For example, if we assume that 30% of the tokens are controlled by one person, this might be an issue. We don?t have an idea right now how we are going to deal with this. I think there should be a limit, according to which every individual can have 5% or 10% at most. We also might need to do KYC for investors.

- How will you control the tokens amount per person during the ICO?

During ICO we can't control because before it finished we don't know the result investments values.

So, because the tokens will be listed on the exchanges and anyone can buy it and came to DAO I still don't see how to manage token distribution without KYC.
Do you have any suggestions about the decision?

[ttg43]

Haven't followed this thread lately - have you managed to provide any proof of identity of any of the dev team? Perhaps any video interview etc?
Have you decided on escrowing funds? If so, any details?

Hi,

Yes, we already made 2 google hangouts, some fragment you can see here: https://www.youtube.com/watch?v=arYVrqo-ICI
Also, proof from Ambisafe: https://www.ambisafe.co/blog/inchain-announcement

Next hangout is scheduled next Tuesday.

We have two escrow: https://bitcointalk.org/index.php?topic=1623519.msg16364022#msg16364022

ambisafe link no found, escrows are good, both reliable guys.

Strange, but it opens only with slash at the end
https://www.ambisafe.co/blog/inchain-announcement/

[Sergey_Inchain]

Haven't followed this thread lately - have you managed to provide any proof of identity of any of the dev team? Perhaps any video interview etc?
Have you decided on escrowing funds? If so, any details?

Hi,

Yes, we already made 2 google hangouts, some fragment you can see here: https://www.youtube.com/watch?v=arYVrqo-ICI
Also, proof from Ambisafe: https://www.ambisafe.co/blog/inchain-announcement

Next hangout is scheduled next Tuesday.

We have two escrow: https://bitcointalk.org/index.php?topic=1623519.msg16364022#msg16364022

ambisafe link no found, escrows are good, both reliable guys.

Ambisafe: https://www.ambisafe.co/blog/inchain-announcement/

[kalpit]

If by chance, inchain goes into loss. Would the token holders still get dividends?

Can you tell me, what is more beneficial, investing in ICO to become shareholder or investing in Insurance linked bonds? Can you explain effects on each of this if inchain goes into loss ?

I pray, that inchain makes big profits, just asking out of curiosity.

[Sergey_Inchain]

If by chance, inchain goes into loss. Would the token holders still get dividends?

Can you tell me, what is more beneficial, investing in ICO to become shareholder or investing in Insurance linked bonds? Can you explain effects on each of this if inchain goes into loss ?

I pray, that inchain makes big profits, just asking out of curiosity.

Good question, thank you.
About dividents: decision about dividends in the hands of Inchain DAO. So, the Inchain DAO will decide to pay it or not.

I think the best way is to become Inchain DAO member, hold some INC as a deposit, and invest in bonds.  

[Sergey_Inchain]

1) We are selling new value coins rather than DAO tokens during our ICO

Still ETH based?

Yes

- To invest in the DAO. The DAO is not a legal entity.

Will it come with voting rights and dividends?

Voting: yes, dividends: in the hands of Inchain DAO by voting

3) We create a legal entity, which will be servicing the platform

Will ico buyers still be owners of that?

Nope. This legal entity will serve Inchain DAO. But Inchain DAO will act as an independent entity.

[SpacemanOne]

Some questions for InChain team:
- What events are you going to insure in bitsquare.io? This is decentralized exchange.

From their whitepaper:


Bitsquare holds these values in every aspect of the project:
­
- Infrastructure (P2P network ­ there are no servers)
­
- Never hold users funds (neither bitcoins nor fiat)
­
- Never hold users data (no account registration)

We still don't analyse the decentralised exchanges. I can say nothing about their risks.

So you did not analyze the exchanges you have selected to insure? Are you serious?
Table from your financial plan. Check the fourth line.


By the way, Coinbase (first line from the above table) wallets are insured already.

Coinbase is insured against theft and electronic compromise in an amount that exceeds the average value of bitcoin and ether it holds online at any given time. Specifically, Coinbase's insurance policy would respond to losses resulting from a breach of our physical security, cyber security, or as a result of employee theft.
 
Coinbase has held this insurance since November 2013 with highly rated carriers (S&P rating of A+ or A.M. Best Rating of A XV or higher).

[Sergey_Inchain]

Some questions for InChain team:
- What events are you going to insure in bitsquare.io? This is decentralized exchange.

From their whitepaper:


Bitsquare holds these values in every aspect of the project:
­
- Infrastructure (P2P network ­ there are no servers)
­
- Never hold users funds (neither bitcoins nor fiat)
­
- Never hold users data (no account registration)

We still don't analyse the decentralised exchanges. I can say nothing about their risks.

So you did not analyze the exchanges you have selected to insure? Are you serious?

Yes, we did not analyze exchanges yet. For this needs the finalised insurance model that is in progress. In the model, the list of exchanges pointed as an example.

[raiblock]

I didn't understand or you must update your blog with a clear info
'Inchain ICO will commence on October 26, 2016 and end on November 23, 2016'
As i know ico is not started yet.but what i read is
'- First ICO week bonus. Users who invest in Inchain tokens in October, 12–18 receive a bonus of 20%'
Source: https://medium.com/@inchain/inchain-ico-structure-and-timeline-a7043d90daef#.vgafxjcw8
You also need to state your ICO date here: https://medium.com/@inchain/postponing-the-start-of-our-ico-for-two-weeks-a35c92d2a272#.sgmpldwcp
Or people will confused who not active on forum.Make a fresh blog post with all updated info

So the exact ICO date is 26/10/2016 right?

[Sergey_Inchain]

I didn't understand or you must update your blog with a clear info
'Inchain ICO will commence on October 26, 2016 and end on November 23, 2016'
As i know ico is not started yet.but what i read is
'- First ICO week bonus. Users who invest in Inchain tokens in October, 12–18 receive a bonus of 20%'
Source: https://medium.com/@inchain/inchain-ico-structure-and-timeline-a7043d90daef#.vgafxjcw8
You also need to state your ICO date here: https://medium.com/@inchain/postponing-the-start-of-our-ico-for-two-weeks-a35c92d2a272#.sgmpldwcp
Or people will confused who not active on forum.Make a fresh blog post with all updated info

So the exact ICO date is 26/10/2016 right?

Yes, thank you for info, will fix immediately.

[SpacemanOne]

Yes, we did not analyze exchanges yet. For this needs the finalised insurance model that is in progress. In the model, the list of exchanges pointed as an example.

From your financial model:

First of all, we analyzed the crypto services market to understand how much crypto services we can insure.

You did a great analysis. One of the exchanges is decentralized and can't be insured and another one is insured already.

[Sergey_Inchain]

Yes, we did not analyze exchanges yet. For this needs the finalised insurance model that is in progress. In the model, the list of exchanges pointed as an example.

From your financial model:

First of all, we analyzed the crypto services market to understand how much crypto services we can insure.

You did a great analysis. One of the exchanges is decentralized and can't be insured and another one is insured already.

In the model, the list of exchanges pointed as an example.