insChain Weekly Project

2018-03-19

insChain is expected to make insurance more transparent, convenient and more trusting, by using blockchain technology.

Long before rising of the insurance company, we human being have already got this kind of mutual aid for thousands of years. We hold the risk sharing system to help each other. This is the original form of insurance company.

insChain is the world first customizable, scalable insurance ecosystem based on blockchain, Internet of Things and artificial intelligence.

The development of the insChain project is inseparable from the support and trust of community friends and insChain enthusiasts, and we express our sincere thanks to them. insChain is committed to the long-term development of the project and uphold the principle of fair and transparent to community. From now on, we will regularly publish project progress in a progress report. The following is about the recent progress we have got.

insChain Weekly concludes 5 aspects as insChain news, development progress, operation progress, market conditions, QA review and community development. This helps our users and supporters to keep abreast of the latest progress, or to give us valuable suggestions.

insChain News

1.insChain founder William Bu was invited to give speech at TokenSky Blockchain Conference in Seoul, Korea, on March 14.

2. insChain founder William Bu attended the 4th Annual Block Chain Finance & Fin-tech China on speech and round table session.

02 Technical development progress

3. Our airdrop for website registraion sucessfully finished on March 10. We are diliverying GETX to the registered users batch by batch. The 2nd airdrop is under planning. Keep on with us!

3. Our airdrop for website registraion sucessfully finished on March 10. We are diliverying GETX to the registered users batch by batch. The 2nd airdrop is under planning. Keep on with us!

03 Operation Progress

1. Intelligent contract layer: insChain accident damage mutual aid plan Protocol Intelligent contract has been completed.

2. Web Wallet:

* The decentralization Web wallet is under developing, and is now in the debug phase;

* Wallet page development finishes, and we are upgrading the designing effect to improve user experience.

3. Application on accident damage mutual aid:

* user makes registration and enters for the test of mutual aid plan;

* improve business process and the claim module.

1.Users registed

The registed users have been over 140 thousand.

The number of users came to a fall on March 10 after the airdrop finish.

2. Ambassador plan

In order to increase the impact of our world infuluence, we launched the activity of "insChain Ambassador" plan, aiming at maintaining the local communities together with offical insChain staff. Ambassadors will publicize and communicate with members in the community, answer questions and disseminate official values.

1000 GETX are the payment for our ambassadors. Application details can be found in our telegram communities.

3. Community construction

The main official group has 38704 members already.

It is the ultimate goal of insurance to establish a mutual aid community, which now insChain is committed to do. So as a basis for our goals, we have decided to establish local communities for countries and regions with more centralized users.

For African: https://t.me/InschainAfrica

For European: https://t.me/insChainEurope

For Japanese: https://t.me/insChainJapan

For Korean: https://t.me/insChainKorea

For Indian: https://t.me/insChainIndia

For Indonesian: https://t.me/InsChainIndonesia

For Russian: https://t.me/insChainRussia

For Singaporean: https://t.me/inschainsingapore

For Vietnamese: https://t.me/insChainVietnam

For Malaysian: https://t.me/insChainMalaysia

Market conditions

Official website:https://www.inschain.io

Official telegram group:https://t.me/inschain_official,

Official English group:https://t.me/inschain_official_English

We will publish insChain news on the website and in our official groups.

Situation of insChain token in this week. After the launching of insChain GETX on Mar. 7 on Coinbene, the increase in the day reached more than 200%. Under the market condition of BTC and other virtual assets going down, GETX experienced a slight fall after a high price opening, with average daily trading volume of 2.7 million GETX.

Regulatory policies of each country have a consistent goal, which firstly is to integrate blockchain and tradable virtual assets into supervision, to prevent money laundering and other illegal activities; secondly to crack down some blockchain projects aimed at money encirclement through fraud. The market style can be changed only after the foundation for “Air Coin” has been removed. After that the capital shall be transferred to projects with real technical strength and development prospect from speculation.

Match the market value of the project with technical strength. And this is the only way for token trading market to be the engine that drives technology innovation and breakthrough of blockchain, at the same time, to confirm to the goal made by regulatory policies. Just like the founder’s words said in the community: 1. Do you think the technology and industry of blockchain are promising? 2. Does product of insChain owners have solid technical and actual achievements? If both answers to those questions are positive, all short-term market fluctuations can be dealt calmly.

05 Community QA

What are the contents of specific project of inschain?

Inschain, at present, is the first blockchain insurance ecological company in the world that can be customized and extended. It is devoted to provide insurance user, insurance agent, insurance broker, actuaries and other persons in insurance sector around the world with a safer and low-cost ecological system by traditional insurance process mechanism remolded by technical improvement. Blockchain has been called “machine of trust” and insChain also wishes to build an insurance company for a community that helps each other with blockchain technology, to return the original intention of insurance.

How’s the background of the team?

Most of our team members come from J.P. Morgan Chase & Co. and Wall Street as well as professionals engaging in insurance sector for many years. Actuarial members also have experienced professionals. In addition, our consultant team can be a star level consultant team.

Where can I get data available to Inschain?

Latest news for white paper of Inschain and other data are available at our official website: inschain.io

If you want to make an in-depth communication and consultation with us, please visit the official telegraph group at https://t.me/inschain_official

What about the enablement of product landing mode of white paper?

For now, the product schedule is steadily pushed forward strictly according to the route plan of white paper, and it is even implemented ahead of the plan, the mutual help project is expected to be launched at the end of April, 2018; we have now actively sought cooperation with companies making outstanding contribution to machine learning and IoT field.

Will the currency of insChain increase in value?

As the official party, we will not make any prediction of currency value, because we cannot control the currency value, which is determined by the market.

What can you get after having Token?

insChain team started to make study on blockchain technology several years ago and now we have this project, which can ensure premiums of people needing protection are locked within Token, and whenever a claim settlement happens, they can make contributions. This kind of model peels off centralization of traditional insurance companies and their workshop style and can greatly lower the insurance premium. Besides, there are more people participated in, there are lower premium and higher guarantee. Our team hopes that insChain not only can build a blockchain in its community but also can build a warm blockchain community by mutual help like that.

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