The buzz about cryptocurrency is increasing, people have heard about it, and more and more people want to find more about it, and find a way to be a part of it. When blockchain technology came, so many things changed, for better, we say. So many businesses have improved, so many companies have started using crypto currencies in their work. The new ideas are coming every day. People want to invest in the new projects. We have the biggest tool in the world, and it is called the Internet. The internet is a enormous base of information where we can do anything. Internet has connected the entire world. One of these projects is Global risk, whose main goal is risk sharing by everyone, with everyone, for everyone through the Global risk Token.
WHAT IS GLOBAL RISK?
Global Risk Exchange(or “GRE”) is a blockchain based, decentralized global risk contract market and public chain, with the purpose of helping individuals, companies and organizations to freely hedge, transfer and trade their risks. GRE completely reconstructed traditional risk management industry(insurance and derivative markets) in a decentralized way, and will become the underlying operating system to support insurance and derivative transactions in the era of blockchain.
THE GRE PLATFORM
The GRE platform charges a certain fee for each risk management transaction and injects it into the foundation development fund for subsequent platform development and maintenance.
The GRE Foundation is an independent body with the main responsibility are:
Supporting the technical development of the GRE blockchain platform, selecting and introducing major partners and actively developing the GRE community
GRE Foundation will be responsible for community development, incentives design,legal affairs and compliance
Responsible for the design of the smart contract, allow community developers to submit the code changes and bugs, establishing a fair and reasonable evaluation mechanism
In GRE platform we use RISK token as transaction intermediary, a Ethereum smart contract based and ERC20 standard compliant token. RISK token can be acquired using BTC or ETH and other crypto currencies. RISK is a utility token in GRE platform and can be used for:
1.All risk management contract use RISK as transaction intermediary and all risk contract claim distribution will use RISK for settlement;
2.Users on GRE platform should buy RISK tokens to pay for transactions fees;
3.Any institutions and individuals could publish risk management contracts using GRE platform and will get volume based rewards in RISK tokens;
4.GRE community will reward developers with RISK tokens in light of their code contributions;
5.Any individuals and institutions can share risk mangement contracts in their social networks and attract more users to trade those contracts. They will be rewarded a portion of new transaction fees derived from those newly traded contracts;
6.GRE platform allows exchange dealers use RISK tokens as collaterals to issue market pegged stable coins; similar to BITCNY and BITUSD on Bitshares platform
How Blockchain Technology Redefines Insurance
Customized
Everybody in the blockchain can appropriate customized protection needs, and influences thesmart contract to organize comparing protection confine, which prompts a really redid protection insurance for everybody.
Deconstruct Insurance Company, Improving Efficiency
Deconstruct a standard protection association into three areas: deals channel, actuarialability to outline protection contracts, and protection restrict. For deals channels, more deals are started by individuals needing protection as opposed to pitching to a get-together of peoplesame thing. Acturaries in insurance agencies are allowed to disperse their own specific things on the blockchain and let the market figure out which one offers and benefit from trade expenses incured, along these lines bypassing dreary inward underwriting process. By empowering any advantages that are fit for giving protection restrict, any individual,company or affiliations can use its hazard esteeming ability to benefit and increasing breaking point regarding particular dangers.
Security and Identity Protection
Individual ID and property data is securely put away on blockchain, and responsibility for data is altogether in the hands of the client. The most ideal approach to see individual data is through a keen contract of distinguishing proof, and only those with private keys can approve others to see their decoded individual data.
Token Economics Incentivize Community to Contribute
All individuals or affiliations adding to the gathering are remunerated with tokens in view of the gathering’s foreordained principles, along these lines giving the gathering individuals enough motivator to take part and to outline whole deal associations with the gathering.
Automative Claim execution by Smart Contract
Claims on the protection contract are normally executed by brilliant contract according to prophet, in this way barring human mediation in the claim procedure. Also, all premiums and breaking point are secured in the shrewd contract in the sorts of token and tokens are appropriated normally by brilliant contracts, dispensing with counter-party dangers.
TOKEN CONCEPT
All hazard administration contract trades on the GRE stage utilize RISK token as trade mediator, and the settlement of the agreements will utilize RISK as well.
Clients in GRE stage will pay trade expenses using RISK token.
Any affiliation or individual can make a hazard administration contract on GRE stage after comunity survey and secure a transation volume based prizes.
The society will remunerate engineers with RISK token in view of their code responsibility.
All individuals and affiliations can share contracts on GRE stage and draw in new clients to exchange hazard mangement contracts and they will get a reward from trade charge gathered from the new clients they welcome.
Trade merchants on GRE stage can RISK as security to issue advertise pegged tokens, for instance, GRE.USD or GRE.CNY. This component resembles the BTS and BITUSD in the Bitshares ecosyetem.
GRE will create a total of 10 billion(10,000,000,000) RISK tokens in light of Ethereum ERC20 standard. GRE Foundation will be considered as the Initiator of all RISK tokens.Users could secures RISK through airdrop and cryptocurrency trades after RISK is released.RISK is an utility token which may simply be utilized on GRE stage for installment by usersto take an interest in the hazard administration contracts and payout of cases or results as showed by prophets. Distinctive partcipants(insured, guarantor, and contract planner) hold diverse measure of RISK, as showed by their particular necessities.
Legal Structure of GRE
GRE Foundation Limited is a restricted risk organization incorporated in Hong Kong is in charge of GRE platform’s operation. The GRE Foundation Limited will go about as a free legal element, completely in charge of sorting out teams and cultivate an active designer gathering to create distributed risk exchanging platform and applications.
Be that as it might, the operation and usage of GRE thoroughly depend on aggregate self-governance, the GRE Foundation Limited just fills in as a common part in the gathering, proposes advices and plans for GRE’s governance, however does not have the benefit or superiority over other gathering people.
Who require us ?
The Insured
This gathering of clients are the people and companies in reality who need to purchase risk management contract(provide premiums) to help their risks
Contract Designer
Give professional risk management expertise to GRE people gathering and can distribute risk management contracts after gathering survey and earn expenses based on exchange charges gathered from exchanging this contract.
Safety net provider
This gathering of clients are normally insurance and re-insurance companies and insurance-connected securities investors. They earn premiums from the risk management contract and take the risk transferred to them
Fundamental BENEFITS
Decentralized Zero Threshold
Smart Contract Replace Traditional Institutions
Essential and Secondary Financial Markets Enable Risk Pricing
Distributed Database Protect User Privacy
TOKEN CONCEPT
All risk management contract exchanges on the GRE platform utilize RISK token as exchange intermediary, and the settlement of the contracts will utilize RISK too. Clients in GRE platform will pay exchange charges using RISK token.
Any association or individual can create a risk management contract on GRE platform after comunity survey and acquire a transation volume based rewards.
The people gathering will reward designers with RISK token based on their code commitment.
All people and associations are able to share contracts on GRE platform and draw in new clients to trade risk mangement contracts and they will get a reward from exchange charge gathered from the new clients they welcome.
Exchange dealers on GRE platform can RISK as collateral to issue market pegged tokens, for example, GRE.USD or GRE.CNY. This mechanism is like the BTS and BITUSD in the Bitshares ecosyetem.
GRE means to develop the blockchain infrastucture and exchanging platform for risk management industry in the blockchain driven world, by giving an open chian, a fundamental convention for the creation of risk events, estimating, exchanging, data gathering and decision. It will enable people and associations around the world to achieve risk and return balance.
Visit the links below for more information:
Website: https://www.gref.io/
Whitepaper: https://www.gref.io/gre.whitepaper.en.pdf
Telegram: https://t.me/GREF_EN
Facebook: https://www.facebook.com/GRE-Foundation-2080066572230352/
By Arsenyo