Global Risk Exchange - World’s first blockchain based risk exchange marketplace 🚀
💥Good friends, I greet everyone on my blog! Today I will tell you about a very interesting ICO project. We will discuss how Global Risk Exchange is implementing blockchain technologies in the risk management sector, and we will also talk in detail about the details of the ICO.
- The traditional model of licensed insurance business relies very much on intermediary channels. In everyday life, there are a diverse amount of risks. No matter what we do, how we do anything there are risks involved in everything. The amount of risk is variable in different conditions and circumstances, some degree of risk can be very unbeneficial for a certain process. Most significantly the traditional insurances are centralized and that means they are vulnerable to risks especially for those who have a non-diversified public profile. Also, decision-makingng mechanism is not able to manage with the ever changing market needs. There are a lot of issues that revolve around personal identification and property information. Hence GRE has adopted to using smart contract of identification, and only those with private keys can authorize others to view their decrypted personal information. GRE aims to build the blockchain infrastructure and trading platform for risk management industry in the blockchain driven world, by providing a public chain, and a fundamental protocol.
🚀 Global Risk Exchange is a blockchain based, decentralized and open global risk exchange market, with the purpose of helping people, companies and associations to access and trade and manage their risks. GRE completely reconstructed conventional risk management tools(insurance and derivative contracts) decentralized, and will become the underlying operation system to help insurance and derivative exchanges in the era the f blockchain. GRE plans to construct the infrastructure and exchanging platform for risk management industry in the blockchain driven world in the near future, by giving a fundamental convention to the creation of risk events, estimating, exchanging, data collection and oracles to verdict specific risks. It will enable people and foundations around the world to achieve risk and return equilibrium. It's a platform where risk management policies and exchanges are driven by real demands, where individualized and fragmented risk coverages are made possible, and insurance protections are made agile.
- In GRE ecosystem, there are 5 roles, namely underwriter, insured, insurer, GRE platform and block producers. The Underwriters are actually the product manager of a real world insurance company, who is actively managing risk management contracts, as well as calculating the probability of various kinds of risks and their premium rates. They provide insurance expertise to GRE. In return, they will be incentivized with a small portion of the transaction fees. The insure, on the other hand, are real-world insurance companies. They also have implemented a "maker-taker" mechanism, for the betterment of their liquidity and to provide more capacity on GRE platform. On their primary market interface, GRE‘s matching engine will match the insurer's capacity which provides highest odds and match that with the capacity of second highest odds and so on. On the GRE secondary market, the order matching logic is similar to stock market.
🚀Why is it worth supporting this project:
- Team Global Risk Exchange, absolutely all of its employees are working for the benefit of the company and are always ready to help in any matter. They are always in touch and do not lose sight of. Indeed, at the current moment, when we are talking about ICO projects, this fact is very important.
- All the prototypes made by the Global Risk Exchange development team are publicly available, right now you can get acquainted and try this system.
- Global Risk Exchange participates in every possible crypto, blocking forums, conclude serious contracts.
- After reading this blog, you probably will have questions. Be sure to ask them in the official sources of Global Risk Exchange: