Topic: [ANN] [ICO CLOSED] Inchain - insurance for the crypto economy - page 34. (Read 109157 times)

> $197k
> good

Pick one.

That's merely ~11% of the minimum goal, and the most attractive period to invest (20% discount) is over. I wish the Inchain team all the best, but things are not looking great. The only hope is that couple of whales will show up and save the day. But logic dictates that anyone who is interested has already invested in 20% discount period. Hope I'm wrong.

I think the platform for creating the fully distributed on-blockchain insurance company exists already. As I wrote before, it's name is Augur. It has not been launched yet but it is in beta testing stage now. Augur + Voting Sytem + insurance fund = your business model. Not absolutely the same but very close. Any insurance company can try their strategies and run their business using the above approach. The so-called DAO is not necessary for the insurance companies to run their businesses. I don't think many of them will need it. To summarize, Augur + Money + Math model = insurance business on blockchain. Fully decentralized, transparent and trustless. Payments will be guaranteed to the clients by the smart contracts, insurance company won't be able to decline the payment for any reason.
The event resolution time can be as low as 3 days, not months.

Your platform will be different of course and will have its own advantages and disadvantages.


You are talking about the absolutely different business model. You mean you create the platform and sell it. There was no a single word about such an approach in your presentations. It's not what ICO investors expect I suppose. Real investors wait to receive the stable yearly profits from a working business and take decisions concerning the business management. They don't need one-time reward.
Actually, the DAO should take the decisions on acquisition or similar matters. I don't understand why you need the DAO if you are going to sell the company. At the same time I don't understand why people would like to participate in the DAO if it will be sold at the end. In general, I hardly imagine what acquisition may look like in the case of the DAO controlled structure. What if some DAO member won't wish to sell their shares (tokens)? What is some of them won't wish to loose control on the key management decisions?

The business model that can be built based on your offer is good and much better than the one described in your whitepaper. I didn't perform any calculations and can't say anything about the numbers. But developing the insurance platform, selling and supporting it may be a good business I suppose. In terms of the whole idea only, numbers should be considered too. Another advantage is that you won't need to develop the DAO part of the platform. Insurance companies can run their businesses without the DAO part I think.
Just develop the platform, sell it and support it. Unfortunately, your initial business model is absolutely different and includes running your own insurance business.

There's one more interesting point here. You are mentioning the intellectual property. AFAIK the smart contracts in Ethereum are visible to everybody and can be used by anyone. The core of your platform are smart contracts. How are you going to protect them from copying?

10% bonus on investment is still oN. its not too late to invest. Insurance for crypto is a new concept and has solid future!

we think it is a good company

For now raised $197000.

Yes, being the first in decentralised insurance company gives it a lot of potential.

Only downside is that it will take a while to really get going and people in crypto are not known for their patience.

Here is some food for thought for the ones who don't believe in the business model:

I think that the most valuable part of this project is not the initial insurance product we promise to provide, but the working model of fully distributed on-blockchain insurance company. After we have proof of concept we can apply it to multiple markets, like catastrophe bonds, flight, medical and other stuff. We have picked crypto exchanges as the first target just because this is a major problem for the most of the investors in the first round.

But I bet if we develop the prototype we'll have a queue of insurance companies lined up with offers to acquire all the intellectual property. And all investors will get pretty quick reward in case of acquisition.

Missing a few days, it will give time we hit the target?

okay I hope so 

Who knows, singular reached $7.5 mln in 30 minutes)

I dont know this is possible to collect 1mln dollar in 16 days.

1 inchain = $$$$$$$

the remainder 16 days to collect $1,556,000
if it reaches the target in 16 days, is truly extraordinary  

with which one ?

They see this project but collided with another ico
perhaps the same time the main problem

hope we can really get big whales to fund the project because it left only few weeks :/

So many "expert" newbies around 

I think inchain ico is success

good luck dev

Are you investor or just "advicer"?

16 days to go  need 150BTC per day to achieve the target, it is impossible, you should return the funds right now, so do not waste a lot of time. just a suggestion from me.