Disclaimer: Since we are here and free to let our imaginations run wild, I’m a philanthropic billionaire here trying to do my part and make the world a better place.

Coinsurance (CSR) Whitepaper

How many times have we seen the best workers and most productive employees end up in massive debts? Or lose all form of financial security? How many times have we seen insurance companies run away with the money, and nothing happens to them? Even when they face the law, law suit after law suit after lawsuit, the people affected are thrown into a financial mess. Lives have been lost all around the world because of this.
In Africa, some government employed workers hardly get paid salaries, and the hope they have for pension remains just that….Hope. The salaries are barely enough to have savings, and those that save end up seeing inflation swallow the entire value of their savings. Or should we talk about how easily insurance companies shut down over here? A lot of people experience intense fear looking into the future. What does it hold?
Global reforms have been launched to fix these problems but the root remains the problem, CENTRALIZATION. These finances have a central power holding them, employers, governments and companies. It is time people take their finances into their hands its time insurance gets decentralized, its time for;

Coinsurance

Coinsurance (CSR) is a token we (who will remain anonymous) are building on the TRC-20 blockchain. Why? We just don’t want to put power in the hands of the people, we also want to make sure decentralization is achieved. Salary earners, or anybody planning for their retirement can buy this token and stock up for the future.

How will this work?

The First stage will take us roughly 6 months at most. We will start by meeting the government-independent labour unions of different countries, get them in on this concept. They will form the first Super-nodes and power will be shared equally amongst all. We will use a Proof of Job consensus system, where interested firms in a locale form trust circles, this will save energy spent on proof of work systems, especially in developing countries. Proof of job simply ensures all participating members have jobs within a registered firm. These trust circles created will answer to the Super node in the country. When we have at least 100 countries on board, we move to the next stage.

Token Sale

An ICO sale will be held during the third quarter, this will enable us raise funds for Project Stability. 100 million tokens will be minted and sold, 1 million each in the respective first 100 countries. Through strategic planning, we hope to finish this within a quarter of a year. The price will be relatively stable and this will be explained in Project Stability. The money raised will go into building a Super Vault, controlled by all Super-nodes, ensuring the power stays decentralized amongst many nations. The intending super-nodes will be in charge of sensitizing the people in their respective countries on the coin, and promoting sales. There would be an international cross-checking to ensure proper accountability of funds.

Moving forward, buyers can choose to join the direct-pay-cut system and their employers will be sensitized on deducting a pre-agreed percent, and using it to buy CSR tokens to pay them. This offer will be open only to employees whose employers accept to adopt the system.

Project Stability

Everybody know how volatile cryptocurrencies can be, and a lot of workers will be afraid of using their hard earned money to put into a project they may not trust so the CSR token will be a stable coin, backed by GOLD. Why Gold? Gold has been a financial safe haven from day 1. It is a store of value and fiat currencies are by history, documentary proof of stored gold and of no value themselves, so you can say gold is the ultimate store of value. The good thing about gold is, it has the ability to grow, just like cryptocurrencies, and this should work well for the people investing.
The money raised from ICO sales will be used to buy gold bars and store. One CSR token will be pegged to the value of one gram of gold. An Island will be bought and provided to house the decentralized Super Vault, when a new CSR token is minted, a gram of gold is added to the vault. This should ensure stability of the coin, and scarcity of gold will not be a problem but a blessing, since it will drive up prices. This should be completed by the fourth quarter.

Auto-Pilot

This is the last stage. While remaining anonymous, I and my team will slowly detach ourselves from overseeing this project, after seeing it run for a year. This will be slow and departmental. We will first stop overseeing the trust circles, let them run for a few months without interference, if it’s all good, we set the super-nodes free. The next level will be the island, the vault. If this can sustain itself, we will withdraw all influence and let the engines roar on.

PROJECTS

SureLend

This is a protocol to allow users borrow from or lend to a pool of CSRs. This pool run by a protocol calculates its interests rates with an algorithm based on the supply and demand of coinsure. There will be two roles under this project, borrowers , and lenders. This system is decentralized so borrowers and lenders interect with nothing but the protocol to earn/pay interest rates.

A lot of workers do not earn enough to afford some pressing needs at times, nd do not ant to use their saving, this project will enable them collect loans with less exorbitant charges, and pay. They just have to use their already acquired CSR as collateral, to borrow USDT

Lenders, unlike in the normal loan system, they do not have to wait till the expiration of a loan to collect back their money. All they need do is withdraw from the pool. This pooling system creates more liquidity and balances the books better.

SureSwap

This protocol aims at creating a pool of funds, where tokens can be swapped for Coinsurance, or vice versa. At first a few tokens like USDT, BTC and ETh will be the initial compatible tokens, but as supply and/or demand grows, adjustments will be made to add new tokens to the project.

The fees generated from swaps will be used in maintenance of the supernodes. The interface will be designed as an easy to use swap system, the coin used for swapping will be deposited by the user into a given address, and upon reception, the user inputs their Coinsure address, to receive the tokens. Of course this can work vice versa.

SureUtilities

This project will be discussed from the first phase, labour unions will sensitize us on utilities the unbanked and banked need and pay for. These utilities will be incorporated into a protocol, the dapp simply allows them to pay for electricity, wifi, water, order food and other possible bills, using CSR. Of course getting private companies aboard will be a task, but we are willing and capable. Government bills and taxes can also be incorporated into this system, and the test-run of this project will be after the fourth quarter.

GOALS

Decentralization of Insurance

The issue of insurance companies wrecking its customers has been a problem, and the impact it has had on the lives of these victims is very saddening. Coinsurance will show the world that insurance can be decentralized, and in the hands of the people. There will be no central powers that can make decisions or mistakes that would affect millions of lives, the power will finally belong to the people.

Eradication of Post-retirement Poverty

With this initiative growing and spreading all around the world, it will proffer a solution to the penury and debt a lot of people enter after they retire from active service, especially in underdeveloped countries, and the unbanked. In the place I'm from, a lot of people do not look forward to the future because they have little or no savings or investments for sustenance. The whole paperwork and stress of insurance is foreign to them. The direct-pay-cut system will be really welcomed here.

Utility

Coinsure is designed to support dapps, and aside the default dapps like SureLEnd, which will help out both investors and borrowers achieve their aims, and SureUtilities that make paying for utilities easy, people can design and build dapps, which will be screened and approved by the Super-nodes, before being launched on the platform.

Conclusion

Time will not permit me to write as much as I wish, lofty dreams right? Well, remember we are in my imagination here, and I'm a billionaire, I can do anything I put my mind to. As nice as this idea might be, improvements can be made, and even then, it is a very difficult thing to achieve. But let us keep our minds open, anything can happen.