annasputra: Project inscoin

BACKGROUND

The insurance sector was born in Italy in the fourteenth century, traders, in fact, began to make sure goods were transported because of the excessive presence of pirates. Initially, this guarantee was verbal, but in the fifteenth century the first guarantee was issued in the form of a written policy: a contract between the company and insured, in which all clauses of the insured situation appeared. To date, in 2018, we face a mature sector because almost all current conditions in reality can be subject to insurance. The sector is equally enjoying very high productivity, based on that fact, together with the banking sector, this is a sector that will never end. However, this should not be considered a simple sector where to work, the fact is that time changes and even if the collateral object does not change, the method relationship between the company and the insured person changes. This requires a relational update of the project "InsCoin for Knox Project" born. The established company "Knox Insurance", after being authorized, will operate initially in the Americas, Africa and Europe and subsequently it will slowly open up a bigger market.

CHALLENGE

According to an FBI study the annual cost of insurance fraud is around $ 40 billion. The cost of this insurance fraud increased by an average American family of around $ 500 in insurance operations.

However, the biggest loss is borne by the company, IT security management and operational losses due to attacks involve large investment costs. For this insurance reason, the Company starts managing cyber risk with the Three Lines of Defense model. Generally, IT and CISO, make the first line of defense, implement and implement an information security strategy. Serving to maintain an overall view of all risks, the CRO establishes a second line of defense, along with compliance, which assesses the adequacy of internal solutions and their alignment with regulatory requirements. The third is internal audit, providing an independent assessment of the adequacy of the management of the cyber risk framework and or the process and control being implemented effectively. Regardless of the proper arrangement of the Three Lines of Defense model, it is very important that the top management level has supervision of cyber risk management.

The next problem is the slow international banking transactions.

SOLUTION

The KNOX project provides for the establishment of the first insurance company that will combine the real world

by using digital Blockchain technology, creating the most efficient and advanced structures in the sector, to find solutions to certification problems and anti-counterfeiting insurance policies.

Blockchain technology, born from Bitcoin in 2008, is now being used increasingly widely in increasing numbers of cryptocurrency, to enable the creation of decentralized and disintermined new generation services. Blockchain in its public implementation solves the fundamental problem of creating trust and networks without permission, where participants can consider valid transactions, and therefore

possibilities related to certification, thanks to the approval mechanism produced by a system of incentives and disincentives among the parties involved. Unaccountable document certification is one of the most important applications of Blockchain technology, as certified documents on Blockchain are NEVER falsified.

PURPOSE OF PLATFORM

The INSCOIN project intends to be used, among the many available, Ethereum blockchain, which currently presents the largest number of real cases used and economic services and transactions currently in operation. Ethereum makes available, the use of its infrastructure and ERC20 technology, the creation of digital personal coins from controlled issuance (tokens) which makes it possible to support entrepreneurial projects. Sales of tokens allow companies to collect the economic resources needed for project development where the token itself will play a key role. Tokens in this sense allow new technologies that offer innovative services.

By exploiting blockchain, a decentralized insurance system.

Decentralization means the transformation of traditional insurance policies from paper into smart contracts.

With a smart contract the spread of fake insurance policies is avoided because the system is the same as their problem after receiving payment.

With a smart contract, the company will not have any delay in collecting credit, such as a policy of payment only after receiving payment. This factor aims to significantly improve the management of the company itself.

With a smart contract in the event of an accident the actual judge who will decide or not pay is no longer a company, which can have opportunistic behavior, but the block-chain system will decide if this accident is in accordance with the provisions of the policy. This benefit will be the most important because it will increase the company's transparency towards customers.

As you can understand the introduction of a smart contract is an important step towards a fair relationship between the company and the customer. Relationships that support maximum transparency and that will allow the same company to have a reputation for seriousness of behavior never seen before, which is very important

since in the insurance sector NAMA and REPUTATION are the main factors.

USE OF TOKEN AND DEFLATION PLAN

INSCOIN tokens are a fundamental part of our project. Through customers can pay insurance premiums and can access the maximum level of authenticity of the policy, receive it in the form of a smart contract.

Inscoin supplies will be 500,000,000 and distributed as below:

54% Token Sale *
15% Reserves blocked (Broker WholeSaler)
10% Team and Advisor
9% Reserves are distributed to 3 Insurance Companies (doiblok for 3 months
and 10% monthly release)
10% Broker Network Partnership, Law and Insurance Advisor
2% Airdrop and gift program

All unsold tokens will be burned After the ICO is complete, a 15% reserve from the WholeSaler Broker will form the basis of the "Plan of Deletion". We have decided to give a deflationary role to inscoin to allow a constant growth of values based on a progressive increase in turnover that will result in an increase in proportionality in demand.

The deletion plan will be structured like this:

15% of the supply (the WholeSaler Broker reserve) will, ending in the ICO,

temporarily blocked by a smart contract for 1 year.

Starting from this base we have predicted further controlled reductions from

working capital based on sales insurance policy.

Collecting premiums in inscoin is articulated like this:

For premium <$ 1'000'000 1% must be paid in INSC

For premium <$ 100'000 3% must be paid in INSC

For premium <$ 50'000 5% must be paid in INSC

For premium <$ 10'000 10% must be paid in INSC

For premium <$ 500 20% must be paid in INSC

Inscoin is collected per one policy, as soon as it is received by the company, it will be blocked by the smart contract for a period of years. After this, they will then be released at a quarterly level of 25% of the total received and used to support an increase in the company's third turnover and ensure a healthy token economy.

Other blocked reserves are not included in the "Deflation Plan". To support investors, 10% (Team and Advisor) will be blocked for 1 year, 9% (guaranteeing funds from 3 companies) will be blocked for 3 months, after 10% of funds are released every month, 10% (Broker Network Partnership, Insurance Advisor and law) will be placed on the market in installments of 8% every month.

All funds mentioned above will be blocked by a smart contract.

DEFLATION PLAN

INSCOIN PLATFORM

At the same time as the start of three insurance companies, after a legal license has been obtained, with the help of funds reached, an internal exchange platform will be created. This platform will have a foundation, through which customers can access the purchase of insurance products offered by our structure.

THE MAIN FUNCTION

Creating customized profiles for Brokers, with their inscoin personal wallet.

Possible for Brokers to create for all of their clients the underlying profile,

combined with its identification code and related inscoin wallets.

Possibility for each personal customer to create their profile, with

inscoin wallet brother. Direct loading of all policy features for evaluation and bidding.

Possibility of paying policies as described in the previous paragraph.

Acceptance, in the case of purchasing a policy, address the smart-contract with you

can verify authenticity. Internal platforms are very important for this project because through it we can manage everything

our project innovation efficiently.

SMART CONTRACT POLICY

Through the payment of inscoin policies, as already indicated above, customers will receive not only policies that are authenticated and standards, but also receive a policy code that will coincide with

address the smart contract related to policy. Especially the latter serves to provide undeniable evidence of the origin of the policy.

With the problem of a smart contract, the customer and heir can verify that the policy is protected and can check that it was issued by the Company.

ROADMAP

TOKEN SALE

The bonus mentioned above refers to private investors, who in the future will be potential suppliers of the KNOX project, below we will see a list of bonuses for insurance brokers that will include the collaborator role of the KNOX project.

BROKER

The KNOX project will require a new broker, in addition to 300 and more already in the sub-network of WholeSale related to us. Brokers who decide to invest in our pre-ICO and ICO will have a personal bonus. All Brokers will receive 15% more in purchasing tokens. They will also receive commission bonuses agreed at the head office, with the following percentage points added:

PRE-ICO and ICO