Global Risk Exchange - World’s first blockchain based risk exchange marketplace

in ico •  7 years ago 

The level of risk varies in different circumstances. Traditional insurance products are centralized and create a common solution for everyone. This causes problems for people with a varied risk profile. The lack of personalized insurance products is a serious problem for the insurance sector. In the traditional insurance sector a lot of waste of financial resources.

There are many other problems in the industry, such as high costs of sales channels and low cash efficiency, low operational efficiency, abuse of personal information from users and misleading political sales and insurance fraud. Similarly, there are many problems on the derivatives market, such as unregistered trading without elimination and opaque risk, counterparty risk and credit risk. It is necessary to apply blockchain technology to find a solution to the above tasks.

Global Risk Exchange (or "GRE") is a blockchain based, decentralized worldwide hazard trade advertise, with the motivation behind helping people, organizations, and associations to fence, exchange their dangers. GRE totally remade customary hazard administration tools(insurance and subordinate contracts) decentralized and will turn into the hidden working framework to help protection and subsidiary industry in the period of the blockchain.GRE wants to revolutionize the way the risk management market works. By offering services that are more effective, personal and faster, a decentralized risk market offers consumers the benefits they have long been deprived of:

The buyer and seller of the risk contract are connected and make transactions directly through the GRE. The low cost of trading risks, eliminating intermediaries, using a process of direct order approval, similar to the exchange, but in a decentralized way.

Why Blockchain

Blockchain technology leverages a sharable distributed ledger to store transaction data, issuing crypto-currency and implement intelligent contracts. Its main advantages are:

  • Decentralized, transaction information written into the block cannot be tampered with, providing true and reliable information records.
  • Smart contracts can be automatically executed without human intervention
  • All Information is transparent and can be traceable Blockchain technology will undoubfully redefine insurance and financial derivatives market and become the underlying operating system for insurance and financial derivative markets in the era to come.

Traditional insurance industry has a very long value chain, it begins with insurant, insurance agents, direct insurance, reinsurance and ends with insurance link securities(ILS) investors. But if we stripe all those roles in the value chain away and the insurance or risk management industry's pure purpose is to match two group of people, one group of people seeks to shift risk away from them and are willing to pay premiums to those who could shouder those risk for them. Those poeple are called "insurant ". The other group of people are willing to take risks that other shift to them in return collect premiums for compensation. Those people are called insurer and they provide capacity for risks. When certain risk happened, insurer has to compensate the insurant with pre-determined amount of money from its capacity; if certain risk did not happen, the insurer booked premiums as their profts. Blockchain based GRE platform will transform the essence of risk management transactions into a trading market where risk sellers and risk takers can trasact directly using blockchain technology. It compresses the elongated chains of the traditional insurance industry while minimizing thresholds, providing maximum liquidity and most accurate pricing of risks.

Features of GRE

  • High Performance
    Built on Graphene tool kit, GRE could reach an average of 1.5 second block confirmation time and 100,000 transactions per second(TPS). It is comparable to the transaction processing speed of a traditional centralized network.

  • All-platform
    Supporting not only PC and mobile, but also API and SDK to meet the needs of different types of users.

  • High Efficiency
    GRE improved the efficiency of all parts in traditional insurance value chain through Oracle and API and reduced the intermediary cost at the same time.

  • Individualized
    Based on the community-managed, continued expanding database of RDHI, users can customize risk contracts to suit their individual needs, and also trade risks in derivatives market, which will further increase their risk management capability.

  • Long-term Dvelopment Plan
    After finish developing the risk management contract trading functions, GRE will focus on the development of derivatives market, providing users with functions such as realworld policy pledge, secondary contract trading and so on.

ICO Details

Token Symbol: RISK
Token Price: 1 ETH = 100,000 RISK
Total Token Supply: 10,000,000,000 RISK
Lock up time: Nil
Soft Cap: 2,000 ETH
Hard Cap: 20,000 ETH
Start: May 20, 2018
End: June 20, 2018

To sum up, GRE is going to revolutionize the risk management sector by offering services in an efficient, personalized, and fast manner. Decentralization will give consumers what they have always desired. With the GRE platform, risk contract sellers and buyers will be able to connect directly with no intermediaries.

Besides that, this platform will customize products to ensure that as many people as possible are covered. The issue of data loss will also be outdated. This will be made possible by the blockchain, which offers one of the highest levels of security known to man in the digital era.

WEBSITE :https://www.gref.io/
WHITEPAPER :https://www.gref.io/gre.whitepaper.en.pdf
FACEBOOK :https://www.facebook.com/GRE-Foundation-2080066572230352/
TWITTER :https://twitter.com/GRE_RISK
TELEGRAM :https://t.me/GREF_EN

Author: https://bitcointalk.org/index.php?action=profile;u=1204319

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