[ANN][UMC] Unity Matrix Commons - Democratized Risk Management

[TimeTeller]

The website is getting better. But the contact email support should be using your domain name as this kind of business needs seriousness.
And browsing the whitepaper, there's no guarantee that you can get your claim as this is up to the community - thru voting system.
Of course, there's always bias in gauging if the submitted evidence is sufficient or not. It depends upon the individuals who are voting that time.
So in the end, even if you are a "policy holder", you can't have the security that you can claim your benefits.

[umbrellacoin]

The website is getting better. But the contact email support should be using your domain name as this kind of business needs seriousness.
And browsing the whitepaper, there's no guarantee that you can get your claim as this is up to the community - thru voting system.
Of course, there's always bias in gauging if the submitted evidence is sufficient or not. It depends upon the individuals who are voting that time.
So in the end, even if you are a "policy holder", you can't have the security that you can claim your benefits.

We're incentivizing the community be on "the winning side" of the vote so, unless that bias exists collectively, the voting process will pick the right outcome in the long run. "Guaranteeing" a claim is a risky proposition as that would leave us open to fraud - that would also require a central authority to basically say "no, we override the community" which kind of kills the decentralized concept in the first place. The community will be able to have an open discussion on claims as they're voting to compile/share evidence. Worst case scenario as a policy holder is you get your money back.

Also, to be fair, anytime you're trying to extract money out of someone for a cause, you have to provide whatever they claim is sufficient evidence. The UMC community will be a reflection of all of our policyholders.

Thanks for letting us know about the email! We updated it on the site. We have our own domain but I think it got lost in the website shuffle.

info[at]umbrellacoin[dot]org

[kastara]

Any bounty share with sosial media like facebook or twitter

[Dhimas Kanjeng]

Any bounty share with sosial media like facebook or twitter

Yes facebook and twitter still live,

How to join:
 
For Twitter:
Follow the Official Twitter Handle: https://twitter.com/umbrellacoin
Fill out this form: https://docs.google.com/forms/d/e/1FAIpQLSfGq80INd03k7jaofZzTN1t4Ur_QaxlKbqW4KVDr2vqJH-Wiw/viewform?usp=sf_link
 
For Facebook:
 
Like Official Facebook Fanpage: https://www.facebook.com/umbrellacoin/
Fill out this form: https://docs.google.com/forms/d/e/1FAIpQLScq5pYA4blC3ZuHlIB1ec96kF2GECx0NMW6q1ze9_81sR2_iA/viewform?usp=sf_link

Maybe any changed, you can check here: https://bitcointalk.org/index.php?topic=2027272.0

[ticterine]

Recently, ICOs of InsureX and Coindash have been hacked, due to the lack of security in their ICO websites. Devs of Opus should definitely invest in improving the security of the ICO website to prevent the potential loss induced by hacking.

I looked into this and it looks like both of those ICOs were managed by tokenmarket.net. It looks like the UMC devs are managing their own ICO so they shouldn't have the same vulnerability.

[MadPanda]

Thanks for the Response,
Im also curious what kind of rewards there will be for voters?

There will be small payouts in UMC to incentivize voters to take part in community votes. We're going to cap the incentives per day to avoid any possible abuse.

In some other news, we're working on a redesign of our website and a few videos explaining the product. Hopefully these will launch within the week.

Thanks for your support!

Sounds really good UMC thanks for answering my questions,
The new website looks great and I look forward to watching this grow.

[BitFarmer75]

Hey looking out for this project! It looks very promising.

[erikalui]

Hindi ANN translation: https://bitcointalk.org/index.php?topic=2040253.0

[sevenshards]

Very upgraded project, I want to join soon, hope be a very profitable project, good luck

[dwminer1]

Polish translation available here: https://bitcointalk.org/index.php?topic=2040607.msg20309488#msg20309488

Best of luck with the ICO!

[umbrellacoin]

New brief video about UMC. Tell us what you think! https://www.youtube.com/watch?v=siCs8_QVgio

Thanks for your continued support!

[MadPanda]

New brief video about UMC. Tell us what you think! https://www.youtube.com/watch?v=siCs8_QVgio

Thanks for your continued support!

Hey Umbrella,
Your updates seem to be consistent, the new website looks great and the video is pretty good.
Excited about although I still have questions.
Do you plan on adding any more services to your client once it up and running?

[BitFarmer75]

New brief video about UMC. Tell us what you think! https://www.youtube.com/watch?v=siCs8_QVgio

Thanks for your continued support!

Hey Umbrella,
Your updates seem to be consistent, the new website looks great and the video is pretty good.
Excited about although I still have questions.
Do you plan on adding any more services to your client once it up and running?

We plan on launching the client in the October timeframe, and being feature complete by February. Our goals are basically to have a prototype working by or before the crowdfund and have something functionally complete for policies/claims voting by October. When we say "feature complete" we're talking more about community interface, discussion forums, auto detection/rejection of policies and things that are "nice to have" but not required for our initial launch. Obviously, we're also going to take into account any pain points or areas of improvement suggested by the community or other empirical evidence. Thanks for the questions.

In other news, we were featured on a blog that rated us a 9.2/10 and worth adding to your portfolio. Thanks for the continued support! http://cryptocurrencieshub.com/umbrella-coin-democratized-insurance/

Wonderful!

[umbrellacoin]

Hey everyone!

I just wanted to give a quick update on what the dev team has been working on. Our team has grown quite a lot over the last week, and people have been ramping up on the existing code base and our proposed architecture. Some of the devs have been on vacation, so we’re hoping to have a “hackathon” this upcoming weekend to really make some headway into a prototype and at least have some basic workflows working.

On Friday, we met and discussed some of the outstanding questions regarding the community, fairness in voting, and the optimal way to launch. We ended up taking a lot of notes on a napkin :-) https://i.imgur.com/RiIbX0w.jpg

We agree that limiting the maximum/minimum payouts initially is a good idea until we reach equilibrium in the float pool. We also had very interesting discussions about how votes should be weighed, how to incentivize people to vote on claims, and minimum votes required to pay out. We are leaning against weighing votes — that could devolve into an oligarchy type situation. Those with the biggest policies, the most reputation, or otherwise the greatest vote weights could be in a position of tremendous power. We want to avoid introducing this unfairness and really let the community evolve organically. We are also leaning towards policyholders paying a small fee in UMC with that paid out to users voting on their claim. This fee will be used to pay people to vote on the claim. We like this idea for two reasons. A) It incentivizes people to vote on claims which have fewer votes — this means they get a bigger piece of the fee than a vote that has many votes. Avoiding a flat payout encourages participation distributed across claims. B) It will discourage people from submitting fraudulent claims — they would have to pay the fee and, if their fraud was discovered, they would lose their policy entirely. In the same vein of community growth and reaching a consensus, we want the community to have a forum for discussion for each claim. We want theme to share information and allow their expertise in certain areas to show. We also want to prevent users from submitting duplicate claims, or submitting duplicate evidence across accounts. We’re thinking of having a “similarity score” between two claims based on the parameters submitted when making a claim (amount, area, day of occurrence etc.) and the data they submit (receipt, video, photo) and giving that information to users.

The team is really excited to build this product and get something working and able to be used by the community quickly. We want to surface as much information as possible to let the community reach a consensus in a fair and reasonable manner, and build on this system going forward.

Thanks for your continued support!

[huu78]

Thank you for receiving my participation in social media bounty facebook.
 A good name and a good project. Good luck;

[BitFarmer75]

Hey everyone!

I just wanted to give a quick update on what the dev team has been working on. Our team has grown quite a lot over the last week, and people have been ramping up on the existing code base and our proposed architecture. Some of the devs have been on vacation, so we’re hoping to have a “hackathon” this upcoming weekend to really make some headway into a prototype and at least have some basic workflows working.

On Friday, we met and discussed some of the outstanding questions regarding the community, fairness in voting, and the optimal way to launch. We ended up taking a lot of notes on a napkin :-) https://i.imgur.com/RiIbX0w.jpg

We agree that limiting the maximum/minimum payouts initially is a good idea until we reach equilibrium in the float pool. We also had very interesting discussions about how votes should be weighed, how to incentivize people to vote on claims, and minimum votes required to pay out. We are leaning against weighing votes — that could devolve into an oligarchy type situation. Those with the biggest policies, the most reputation, or otherwise the greatest vote weights could be in a position of tremendous power. We want to avoid introducing this unfairness and really let the community evolve organically. We are also leaning towards policyholders paying a small fee in UMC with that paid out to users voting on their claim. This fee will be used to pay people to vote on the claim. We like this idea for two reasons. A) It incentivizes people to vote on claims which have fewer votes — this means they get a bigger piece of the fee than a vote that has many votes. Avoiding a flat payout encourages participation distributed across claims. B) It will discourage people from submitting fraudulent claims — they would have to pay the fee and, if their fraud was discovered, they would lose their policy entirely. In the same vein of community growth and reaching a consensus, we want the community to have a forum for discussion for each claim. We want theme to share information and allow their expertise in certain areas to show. We also want to prevent users from submitting duplicate claims, or submitting duplicate evidence across accounts. We’re thinking of having a “similarity score” between two claims based on the parameters submitted when making a claim (amount, area, day of occurrence etc.) and the data they submit (receipt, video, photo) and giving that information to users.

The team is really excited to build this product and get something working and able to be used by the community quickly. We want to surface as much information as possible to let the community reach a consensus in a fair and reasonable manner, and build on this system going forward.

Thanks for your continued support!

this team keeps on moving. love it!

[johngoodmanbtc]

This seems like a very exciting project! A few questions I have.
1. How long will the ICO be open for?
2. Are there any incentives beyond the first 2 days?
3. Why did you choose the Ethereum platform over others like NEO?

Hey everyone!

I just wanted to give a quick update on what the dev team has been working on. Our team has grown quite a lot over the last week, and people have been ramping up on the existing code base and our proposed architecture. Some of the devs have been on vacation, so we’re hoping to have a “hackathon� this upcoming weekend to really make some headway into a prototype and at least have some basic workflows working.

On Friday, we met and discussed some of the outstanding questions regarding the community, fairness in voting, and the optimal way to launch. We ended up taking a lot of notes on a napkin :-) https://i.imgur.com/RiIbX0w.jpg

We agree that limiting the maximum/minimum payouts initially is a good idea until we reach equilibrium in the float pool. We also had very interesting discussions about how votes should be weighed, how to incentivize people to vote on claims, and minimum votes required to pay out. We are leaning against weighing votes — that could devolve into an oligarchy type situation. Those with the biggest policies, the most reputation, or otherwise the greatest vote weights could be in a position of tremendous power. We want to avoid introducing this unfairness and really let the community evolve organically. We are also leaning towards policyholders paying a small fee in UMC with that paid out to users voting on their claim. This fee will be used to pay people to vote on the claim. We like this idea for two reasons. A) It incentivizes people to vote on claims which have fewer votes — this means they get a bigger piece of the fee than a vote that has many votes. Avoiding a flat payout encourages participation distributed across claims. B) It will discourage people from submitting fraudulent claims — they would have to pay the fee and, if their fraud was discovered, they would lose their policy entirely. In the same vein of community growth and reaching a consensus, we want the community to have a forum for discussion for each claim. We want theme to share information and allow their expertise in certain areas to show. We also want to prevent users from submitting duplicate claims, or submitting duplicate evidence across accounts. We’re thinking of having a “similarity score� between two claims based on the parameters submitted when making a claim (amount, area, day of occurrence etc.) and the data they submit (receipt, video, photo) and giving that information to users.

The team is really excited to build this product and get something working and able to be used by the community quickly. We want to surface as much information as possible to let the community reach a consensus in a fair and reasonable manner, and build on this system going forward.

Thanks for your continued support!

this team keeps on moving. love it!

At this rate, the community will be built in no time!

[Jurgen]

The Dutch thread is now online:
https://bitcointalk.org/index.php?topic=2045792

[goovsy]

Sorry but we already have WeTrust for what you are trying to do with this project . I recommend you to sell your insanely overpriced tokens after the ICO and buy WeTrust tokens or better keep the ETH.

it s good to have choice isnt it?

[BitFarmer75]

Sorry but we already have WeTrust for what you are trying to do with this project . I recommend you to sell your insanely overpriced tokens after the ICO and buy WeTrust tokens or better keep the ETH.

it s good to have choice isnt it?

Choices are always good. My pick is umbrella coin.