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

[BitFarmer75]

Hey guys, here is a fantastic video summarizing everything UMC has to over!

https://www.youtube.com/watch?v=6HFlHTEnoGo

Just finish the video and it was great. Easy to understand.

[ticterine]

Hey guys, here is a fantastic video summarizing everything UMC has to over!

https://www.youtube.com/watch?v=6HFlHTEnoGo

thanks for the video link. It went into pretty good detail and reaffirmed my belief in the project. Well done. Really looking forward to it starting.

[BitFarmer75]

Hey guys, here is a fantastic video summarizing everything UMC has to over!

https://www.youtube.com/watch?v=6HFlHTEnoGo

thanks for the video link. It went into pretty good detail and reaffirmed my belief in the project. Well done. Really looking forward to it starting.

I like it how it's more detail.

[BitFarmer75]

oh they just made a Spanish video. https://www.youtube.com/watch?v=v6G8QApEr10 They are going international!

This is my hunch maybe they are going to make more videos, for different languages. I would do one in French,  Chinese, Russian, and German.

[MadPanda]

Was thinking earlier today that these Umbrella devs have got guts being in the spotlight, just the thought of the possible fallout a project like this may have going up against the main stream industry with its large sums of money and army of lawyers is a little frightening.
Does anyone think the Traditional insurance industry will either try to buyout this project or maybe attempt to sabotage it threw nefarious or legal means?

Ahh, well, first the company has to gain a lot of investors and I mean A LOT, because it's a insurance company, which requires finances to run. Okey, this will be mediated via ICO. After that, they need to release a stable functionable platform and real blockchain backing. The insurance industry may not even give a crap about the existence of UmbrellaCoin, but when they emerge in scale, users, investors, functions and markets, they may stand a change against these centralized predators. I hope only for the best, of course.

Yah your right perhaps this will fly under the radar long enough for projects like Umbrella to have a good footing to not get pushed around.
I actually think if this works out right they may even be able to partner with some companies to help elevate the pressures of overhead policy costs.

[zara88]

 are all the coins holder can be the policyholders?

[makulo123]

are all the coins holder can be the policyholders?

Isn't policyholding only some kind of job, like a reviewing job? Because I don't understand that kind of... Holding coins doesn't mean being policyholder, or does it?

[umbrellacoin]

are all the coins holder can be the policyholders?

Isn't policyholding only some kind of job, like a reviewing job? Because I don't understand that kind of... Holding coins doesn't mean being policyholder, or does it?

Being a coinholder does not make you a policyholder. You have to explicitly opt in to holding a policy via our client application. You are free to do whatever you want with our coins!

[cryptoisdafuture]

But from what I understand, you need UMC coins to buy the policy, right? They can't be bought using fiat currency/ Ether?

[umbrellacoin]

But from what I understand, you need UMC coins to buy the policy, right? They can't be bought using fiat currency/ Ether?

Yes. That is correct. In order to participate on our network you need UMC tokens. We don't have plans to accept fiat/Ether/other coins at this time. Maybe we'll add that in the distant future, but let's take one step at a time 

[AshCoins]

I'm surprised this project isn't getting more hype on this forum as it's getting a decent amount of press.  It's an ambitious project but could really be a game changer in the insurance industry.

[umbrellacoin]

I'm surprised this project isn't getting more hype on this forum as it's getting a decent amount of press.  It's an ambitious project but could really be a game changer in the insurance industry.

Thanks! We do think it's ambitious, but short-term I think everything we've set forth is very achievable. Long-term we hope this can be an extremely huge challenger to traditional insurance.

[Mokel]

I'm running this project and I hope ico from this project can be successful because I see this project that has a very bright future

[MadPanda]

Hey I'm curious to know how the vote incentive system is going to work? Will this be similar to the STEEM platforms up vote system? Will there also be limits to prevent people from spamming?

[digitalgame4life]

Wow definitely sounds like a great coin.

OP can you PM me??

 I actually have some good input as I am somewhat familiar with the industry you're targeting!

What a sphere, I hope you can be of good help, a big and good community always helps!

[Bighero76]

Yes I definitely want this coin to succeed!

[ramores8]

Totally agree on damn governments trying to sabotage or destroy good ideas, I think if this project makes it big there will be people trying to destroy good technology, I hope this brakes the barrier and that the scamming,corrupt, lying governments and insurance companies will be on bottom level.

Like a proverb, the taller the tree grows, the greater the wind reaches it. May be attributed also in some ways including this project.
But I'm sure dev has a plan for that.

[cryptoisdafuture]

Hey I'm curious to know how the vote incentive system is going to work? Will this be similar to the STEEM platforms up vote system? Will there also be limits to prevent people from spamming?

Voting is mentioned in great detail including incentives for "good" voter behavior, why they will vote etc. in the white paper. I found it pretty enlightening

[BitFarmer75]

Hey I'm curious to know how the vote incentive system is going to work? Will this be similar to the STEEM platforms up vote system? Will there also be limits to prevent people from spamming?

Voting is mentioned in great detail including incentives for "good" voter behavior, why they will vote etc. in the white paper. I found it pretty enlightening

What makes a voter good or vote good?

[umbrellacoin]

Hey I'm curious to know how the vote incentive system is going to work? Will this be similar to the STEEM platforms up vote system? Will there also be limits to prevent people from spamming?

Voting is mentioned in great detail including incentives for "good" voter behavior, why they will vote etc. in the white paper. I found it pretty enlightening

What makes a voter good or vote good?

What makes a voter good is if they're continuously active in the community and they regularly participate in votes and discussions. Again, there will be incentives for being active. What makes a vote good is if it is right - and right means that given the evidence you voted appropriately. Say someone scratched their car and filed a claim. I would expect the community to say: how much did it cost? how do we know you didn't already file an insurance claim for these damages? is there a police report? etc. We're going to allow the submitter to upload more information while the process is going on to make it more of a conversation with the community. As for assessing what's right, initially we are going to have staff with underwriting and claims experience review submissions to help build up reputation in the community.