InsCoin ICO Review

For many people, the insurance industry can be a minefield to navigate. Although there are many legitimate insurance companies that do have their customers best interests at heart, there are also some bad apples.

Horror stories of how customers have had their claims rejected due to a technicality are widespread. One the other hand, it is not just among the insurance companies there are bad apples to be found. Some customers have also engaged in fraudulent activities in an attempt to cheat the system and get an insurance claim paid out based on false premises. Needless to say, there is a certain element of distrust in the insurance world. Fortunately, a solution is on the horizon. InsCoin for Knox Project is an ICO that aims to address this issue by incorporating blockchain technology into the insurance system.

What is InsCoin?

InsCoin is a part of the Knox Project, which aims to be the first insurance company that combines the real world aspects of insurance with the world of cryptocurrency and blockchain technology. By using digital ledger technology, the team wants to eliminate forgery, fraud, and the rejection of legitimate claims. The decentralized nature of the blockchain will ensure that all records are kept on a secure network. Using Ethereum’s smart contract system will also create an unprecedented transparency that will benefit both companies and claimants.

How does InsCoin work?

The platform will be using smart contracts as the core agreement between customers and insurance companies. The if/then premise of smart contracts will avoid false insurance policies, as the same system issues both the policies and the payments. Neither will the insurance companies experience any delays in the collection of credits, as their coverage is only issued after the customer’s payment has been made. This will not only make transactions easier but will also greatly reduce the managerial burden on the company. The most important and interesting thing is perhaps that the company will not be able to reject claims due to technicalities. The insurance companies will no longer be in control of the decision on whether or not to pay out a claim. Instead, whether or not the claimant is paid will come down to the stipulations in the smart contract. The money will only be released if the conditions for their release are met.

How is InsCoin progressing?

The project kicked off in March last year when the developers established the Team Building Establishment. In May 2017, the forecast business plan was fleshed out, and legal consulting was covered.

Two months later, the IT insurance platform was licensed. In October last year, the project secured partnerships with more than 300 insurance brokers. 2018 has seen the team plan the ICO launch and marketing plan. Last month the official Pre-ICO started, and the actual ICO started just this month. The rest of 2018 will be spent on getting InsCoin onto the main cryptocurrency exchanges and securing authorizations from official authorities to provide legal insurance to their clients. Customers will be able to utilize the platform in late 2018.

Other Information:
– bitcointalk Username: Ico Friends

Frederik Nielsen
Frederik Nielsen

I’m a freelance writer and full-time curious person. My main interests are philosophy, politics, art, culture, science, and how they’re all interlinked. When I’m not writing, I’m fronting a band, producing records, and making videos. I’m also currently working on launching a YouTube channel that will focus on culture and politics. I think blockchain technology is fascinating because of the huge potential it has to revolutionise not only the financial sector, but society as a whole.


  • zortilonrel
    March 7, 2021 at 4:50 pm

    I have to express appreciation to you just for rescuing me from this type of issue. Right after searching throughout the the web and finding suggestions that were not pleasant, I assumed my life was gone. Living devoid of the solutions to the problems you’ve fixed as a result of your main short article is a critical case, and those which might have in a negative way damaged my career if I hadn’t encountered the website. Your own personal know-how and kindness in touching a lot of stuff was priceless. I am not sure what I would have done if I hadn’t come upon such a point like this. I can at this moment relish my future. Thanks so much for the skilled and amazing guide. I won’t be reluctant to refer your web site to any individual who should have guide on this issue.

  • Foster care
    March 9, 2021 at 2:40 pm

    I like what you guys are up too. Such intelligent work and reporting! Carry on the superb works guys I’ve incorporated you guys to my blogroll. I think it will improve the value of my website 🙂

  • zovre lioptor
    August 1, 2021 at 10:18 am

    Do you mind if I quote a couple of your posts as long as I provide credit and sources back to your webpage? My website is in the very same area of interest as yours and my users would certainly benefit from a lot of the information you present here. Please let me know if this ok with you. Thanks a lot!

  • Ronaldzes
    August 9, 2021 at 6:52 am

    how much is viagra per pill %viagra online mmfzhya – viagra replacment

  • school holiday
    September 24, 2021 at 9:03 am

    You completed several good points there. I did a search on the subject matter and found most people will have the same opinion with your blog.

  • September 24, 2021 at 4:23 pm

    gay dating in pittsburgh

Leave your thought here