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Author Topic: [ANN] [IXT] InsureX - blockchain-secured marketplace for Insurance  (Read 57940 times)
Zabivelli
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July 03, 2017, 02:46:22 PM
 #121

Dutch Translation


 Grin


▌▌▌ATHENA - ICO ▌▌▌
Neural network & blockchain-based technology that eliminates emotional influences to increase revenue for day traders.
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denverliu
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July 03, 2017, 03:23:30 PM
 #122


Traditional Chinese edition was deleted.(no reason)
Here is the Simplified Chinese:
https://bitcointalk.org/index.php?topic=1997238
Docent85
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Speed up any unconfirmed transaction


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July 03, 2017, 06:42:40 PM
 #123

Here no bounty compaing?

I will speed up any unconfirmed transaction in BTC network to confirmed.

Donate only after 1 confirmation BTC network to my BTC a dress: 1PGRnsX1MHheNY2XLstWwukB9Pufpu7FCX
InsureX
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July 03, 2017, 07:03:35 PM
 #124

Here no bounty compaing?

Hi,

Details about our bounty hunt can be found here: https://bitcointalk.org/index.php?topic=1965684.0

Regards,
InsureX - IS
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July 03, 2017, 07:08:49 PM
 #125


Traditional Chinese edition was deleted.(no reason)
Here is the Simplified Chinese:
https://bitcointalk.org/index.php?topic=1997238

Hi,

I will check what happened to the traditional Chinese version.

Regards,
InsureX - IS
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July 03, 2017, 07:35:20 PM
 #126

So I have a few technical questions if I may on the blockchain technology, and how it fits into insurex:

As I understand (and please correct me if Im wrong), confidential private insurance information won't be stored on the blockchain itself, but in the Nosql storage instead? So things like pricing, parties involved in an insurance deal, addresses and contacts of people will be stored in Nosql and not on the blockchain?

But everything else data wise will be written onto the ethereum blockchain? So things like:

- the whole marketplace where people buy and sell (with smart contracts implemented)
- actual insurance contract information
- terms and conditions for insurance contracts which can be issued via smart contracts (like Corda is able to do for banks now)
- portfolio info
- analytics

So what you're doing is having a hybrid..where some data is on ethereum, but other data is kept on a normal database, and the two meet together in an UI, built on normal application languages (node.js etc).

So the follow on question then would be: what type of backups/redundancy or contingency plans will you have if the ethereum network has issues? For example, bottleneck issues which we've seen recently. If a lot of data is purely on ethereum, and ethereum slows down or has other problems (which is possible because its still a third party and a work-in-progress), companies wont be able to access what they want

In essence, how are you ensuring data integrity and the ability to access the information a company needs on insurex in case something goes wrong on the blockchain or somewhere else?

What are your anticipated insurance transaction volumes on the insurex platform once the concept takes off? Because ethereum at the moment is showing some slowdown at 300,000 transactions a day (obviously that will improve with updates)

I would think some insurance companies would also want to use a sidechain to store their insurance information. So have their own private blockchain maintained in the cloud which covers all its sensitive information etc instead of a centralised nosql concept. So they would get the benefits of blockchain, but also keep control over their data in case things go wrong with a more standard public blockchain tech like ethereum

Im thinking something like Factom's blockchain technology to store insurance information as an add-on to insurex would also be good, so data is stored securely in an independent way, but also a smart way.

So..insurex is a great concept but I have some questions there....it doesnt say enough in the whitepaper about the extent of the blockchain implementation and whether everything's been thought of in regards to contingencies and how the control, safety and security of the data on it will work

Bump



Hi,

Many thanks for these very detailed questions. Please see our responses below:

>> As I understand (and please correct me if Im wrong), confidential private insurance information won't be stored on the blockchain itself, but in the Nosql storage instead? So things like pricing, parties involved in an insurance deal, addresses and contacts of people will be stored in Nosql and not on the blockchain?

This is the approach we have have taken to meet various regulatory challenges related to for example GDPR.

>> So the follow on question then would be: what type of backups/redundancy or contingency plans will you have if the ethereum network has issues? For example, bottleneck issues which we've seen recently. If a lot of data is purely on ethereum, and ethereum slows down or has other problems (which is possible because its still a third party and a work-in-progress), companies wont be able to access what they want

This is a very critical issue for us. Our initial approach is to run a consortium blockchain which would lend itself well to the industry we are in. Data and process can still be shared by all the market participants who are connected in the consortium and we will be isolated from the issues we have been seeing on the public chain.

>> In essence, how are you ensuring data integrity and the ability to access the information a company needs on insurex in case something goes wrong on the blockchain or somewhere else?

Our team has extensive experience of providing mission-critical, fault-tolerant systems so we will leverage this experience to the fullest. Well-known techniques will be applied to ensure that we can provide a 24/7 marketplace. Hot standby's, load-balancing, multiple levels of redundancy would be part of this.

>> What are your anticipated insurance transaction volumes on the insurex platform once the concept takes off? Because ethereum at the moment is showing some slowdown at 300,000 transactions a day (obviously that will improve with updates)

It is very difficult to predict the volumes, even as an estimate. It will be driven by the number of participants and their size and activeness. What we don't anticipate millions of transactions a second but rather in the thousands per day.

>> I would think some insurance companies would also want to use a sidechain to store their insurance information. So have their own private blockchain maintained in the cloud which covers all its sensitive information etc instead of a centralised nosql concept. So they would get the benefits of blockchain, but also keep control over their data in case things go wrong with a more standard public blockchain tech like ethereum

Im thinking something like Factom's blockchain technology to store insurance information as an add-on to insurex would also be good, so data is stored securely in an independent way, but also a smart way.

Exactly our thinking.

>> So..insurex is a great concept but I have some questions there....it doesnt say enough in the whitepaper about the extent of the blockchain implementation and whether everything's been thought of in regards to contingencies and how the control, safety and security of the data on it will work

Thank you for these encouraging words. Yes it is early days yet and we're working very hard at trying to address many of these challenges. And we intentionally left the white paper light on specific details in some areas but will keep the community updated on our progress with this.

Regards,
InsureX - IS
InsureX
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July 04, 2017, 01:33:14 AM
 #127

hi @team,

can you please talk a bit more about IRP? It is only mentioned here and not on the website nor the whitepaper. Is it a form of dividends?

Hi snowboard,

We did some change in our whitepaper few days ago and decided to not keep the IRP.

Best Regards,
InsureX - NC
InsureX
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July 04, 2017, 01:36:57 AM
 #128

Anyone know how to buy InsureX tokens at Crowdsale? in InsureX website, I didn't find this information. Thanks!

We will publish a link on our website when the ICO starts.

For now you can follow us on token market website.

Best Regards,
InsureX -NC
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July 04, 2017, 08:40:09 AM
 #129

This is the first of its kind, bringing insurance into block-chain technology, concept is awesome and I feel this project would be great if initiators follow their road map and pull it off successfully according to project plan.

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July 04, 2017, 11:47:34 AM
 #130


hi, dev, I can see the total supply of this ICO project is 100,000,000 IXT, worth about 88888ETH, the price is 1 IXT=1125ETH, since the price of the ETH is going down recently, the price of a token will be changed or will not?

no , it's fixed

Any official announcement about this? I mean I want to know when is the criteria for the token price since I am considering if I buy the ETH right now or later.

▃▃▌▌AMBROSUS▐▐▃▃▃ - the world's first trusted food ecosystem
ICO in September
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July 04, 2017, 11:52:51 AM
 #131


hi, dev, I can see the total supply of this ICO project is 100,000,000 IXT, worth about 88888ETH, the price is 1 IXT=1125ETH, since the price of the ETH is going down recently, the price of a token will be changed or will not?

no , it's fixed

Any official announcement about this? I mean I want to know when is the criteria for the token price since I am considering if I buy the ETH right now or later.

We have updated our crowdsale website with the new ETH to IXT allocation which will stay as a fixed price.

Regards,
InsureX -vk

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July 04, 2017, 12:07:26 PM
 #132

Will be insurance through blockchain stable enough? Or am I missing something or I don't understand it?

Insurance means that if you pay for insurance, you get insurance almost without any risk. Insurance is secured by multiple levels. Insurance companies have insurance by other insurance companies which have insurance by higher level of insurance companies which have further insurance on global level. All risk is spread through global level insurance organizations which will break only if global economy totally collapse. This is why it is called insurance. Unless world economy doesn't collapse totally (I mean really totally), you still have insurance.

But we can not say the same for digital assets which are highly unpredictable. Am I missing something here?
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July 04, 2017, 01:51:13 PM
 #133

The project is attracting many large investors. I hope that when the ICO starts all the tokens will be sold out in 8 hours and I will invest in this project because I think it will grow in the future.

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enigmatical
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July 04, 2017, 08:04:47 PM
 #134

Will be insurance through blockchain stable enough? Or am I missing something or I don't understand it?

Insurance means that if you pay for insurance, you get insurance almost without any risk. Insurance is secured by multiple levels. Insurance companies have insurance by other insurance companies which have insurance by higher level of insurance companies which have further insurance on global level. All risk is spread through global level insurance organizations which will break only if global economy totally collapse. This is why it is called insurance. Unless world economy doesn't collapse totally (I mean really totally), you still have insurance.

But we can not say the same for digital assets which are highly unpredictable. Am I missing something here?

Insurance is based on practical application of probability theory and the Re-insurers just to help the insurers redistribute the risk. Let me help you rephrase this question, is this project backed up by any re-insurance companies?

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July 04, 2017, 10:09:38 PM
 #135

Will be insurance through blockchain stable enough? Or am I missing something or I don't understand it?

Insurance means that if you pay for insurance, you get insurance almost without any risk. Insurance is secured by multiple levels. Insurance companies have insurance by other insurance companies which have insurance by higher level of insurance companies which have further insurance on global level. All risk is spread through global level insurance organizations which will break only if global economy totally collapse. This is why it is called insurance. Unless world economy doesn't collapse totally (I mean really totally), you still have insurance.

But we can not say the same for digital assets which are highly unpredictable. Am I missing something here?

Insurance is based on practical application of probability theory and the Re-insurers just to help the insurers redistribute the risk. Let me help you rephrase this question, is this project backed up by any re-insurance companies?

Honestly, this concept very interesting, but it's not that easy to implemented.
I'm agree with the question above, the answer will make this project more clear.

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🌟ATLANT ICO ENDING SOON🌟


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July 04, 2017, 10:27:45 PM
 #136

Read your roadmap. Do you really think your service will be 100% ready by the end of 2017? What I know is that insurance is complicated, ask Trump.

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July 05, 2017, 04:04:36 AM
 #137

seems a good project to me. hope they can deliver as they said. @dev n team are there any bounty's ?

                                       
                                       
                                       
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July 05, 2017, 05:15:18 AM
 #138

The project is attracting many large investors. I hope that when the ICO starts all the tokens will be sold out in 8 hours and I will invest in this project because I think it will grow in the future.

If viewed from pre sale, maybe the tokens will be sold out before the ICO begins.

This project was successful before it started

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July 05, 2017, 11:15:11 AM
 #139

This ico is set as HOT+ into tokenmarket list. This seems that many people are interested in this. Hope to not close before we can invest, like tenx ico...
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July 05, 2017, 11:56:39 AM
 #140


Please remove me from the company's bounty (signature). I will re-record later. thx
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