What is fidentiaX (fdX)?fidentiaX’s vision is to create a marketplace and repository of insurance policies for the masses by leveraging on blockchain technology. This blockchain-powered marketplace will provide a trustless, immutable, auditable and transparent environment to disrupt the status quo. fidentiaX’s platform is a members-only platform that has an annual membership fee which is payable via fdX tokens and any token collected will be consumed.
fidentiaX will be a marketplace where users will be able to sell, buy or use it as a repository for insurance contracts. Instead of selling (surrendering) your insurance policy to your insurance company for a small sum, you will be able to resell it at a higher value to a third party through the fidentiaX platform.
The Life insurance market is estimated at several billions of dollars. In 2016, in OECD countries, this market was evaluated at US$4 billion. Reselling of insurance policies is not something new but has not gained traction as the most dominant players, the insurers, have no vested interest in offering this alternative to policyholders. In addition, the process is long and complicated because of third-party providers (notaries, specialized companies)
fidentiaX proposes a decentralized platform, in order to remove the constraints of a trusted intermediary.
https://medium.com/@fidentiaX/a-quick-summary-of-fidentiax-7d40104a97f0