I learned about the project and saw Black Insurance as a third party to simplify the insurer's risk requirements for the insurer in a transparent manner. Black insurance has a great function that is profitable by some insurance categories that will transfer to the BST owner. Can you share more specific issues?
Hello blockchain-man
Black connects insurance entrepreneurs with innovative ideas to the capital they seek.
An example:
An insurance startup “CryptInsure” has recognised the
need for insuring crypto wallets hosted by third parties. They list their product on the Black platform after it has been approved by the Black experts. A syndicate focusing on crypto products recognises the product and decides to invest. CryptInsure gets the needed funding and starts to distribute the product to customers. All done in 2 months.
Black Insurance will use two types of tokens:
Black Platform Token (BLCK). All platform users will use BLCK for managing insurance on the Black platform, and demand for BLCK will increase as more insurance business is conducted on the platform.
Black Syndicate Tokens (BST) is a security token. BST will be issued when the platform is ready.
BSTs can only be purchased and owned by verified “Accredited Investors”. BSTs are investments created by Syndicates that will earn a profit, and the amount and types of BSTs will grow and shrink based on the different types of Syndicates that exist at any given time.
The Black Platform will allow Investors to join together into an investment fund called a Syndicate, and Investors will receive Tokens from the Syndicate in exchange for their investments.
These Black Syndicate Tokens (BSTs) are a special class of Tokens that will be issued when Syndicates are being launched or when they are distributing Profit to their Investors. Each Syndicate will issue their own BST with a unique name and Risk / Reward profile. In its most basic form, a BST will behave like an interest-bearing security (a bond), where holders will calculate the value of a BST as the combination of historical payments.
Black whitepaper:
https://drive.google.com/viewerng/viewer?url=https://www.black.insure/wp-content/uploads/2018/05/whitepaper-min.pdf
