Topic: [ANN] [ICO CLOSED] Inchain - insurance for the crypto economy - page 73. (Read 109157 times)

he is from "breaking bad"  Bryan Cranston

---------Inchain:
Hi,
Nice to meet you.
I'm a founder of crypto insurance startup called Inchain. We allow users of exchanges and wallets to insure their accounts against hacker attacks.
We're seeking to establish partnership with you.
Currently we are at the stage of fundraising through ICO and offering you to join our media campaign.
We are generating a lot of buzz in media with our press releases and will be happy to mention you as one of the companies who have agreed to participate in pilot program. In exchange we're asking you to publish our press release in your blog and social media.
---------Exchange:
What would the pilot program look like? I'm not sure how this would work.
---------Inchain:
We intend to offer to Exchange customers to insure their risks of losses if (excuse me but) Exchange will be hacked.
---------Exchange:
You can see why we wouldn't market or endorse this, right? Smiley We would be telling our customers they should worry about security.
---------Inchain:
Insurance - it's the next level of your security. Almost every exchange was hacked. Look at Bitfinex for example. If exchange's customer can insure their risks - it is better for them or not?
---------Exchange:
There is a difference between the insurance I would buy that would cover the whole exchange vs. marketing that individual users purchase insurance against their accounts. One is part of our overall security strategy and risk management posture for our users, the other would convey a lack of confidence in our ability to protect our users. We would not do the latter.
If you have a trading token, we'd certainly work with you on that but we aren't going to directly market your product to our users.

Bittrex never been hacked, damn very secure exchange.   Let's it inchain on their site first. 

http://ico.inchain.io/#team

LOL, who is this yellow guy below? They look the same. 

Interesting article about DAO legal aspects: https://medium.com/@piersbxd/should-a-dao-have-a-legal-entity-715a9cf31301

Some statistic here: https://magoo.github.io/Blockchain-Graveyard/

I think they should have insured exchanges, those are at the highest risk.
With about 1/3 of all exchanges suffering hacks before, and customers losing funds, they are in dire need of insurance.

ahaha. Exactly!

that's my point exactly. Insuring ICO makes no sense to me. ICO project should have its own escrow, and that should be enough. You can't insure success of project..

They really look like 

What risk can be insured in this case?

What is to insure in ICO if the project has strong escrow? If it doesn't - it is not worth investing in..

thanks for the response!

see this picture in thread iconomi

Can you pls give me a link where it explained? It can be useful to discuss it with ICONOMI.


There are many risks for thinking about. Insurance of some risk requires a development of strong and clear insurance model. And of course, we plan to increase Inchain insurance offer in the future.

But if you already have some suggestions about insurance of ICOs - welcome)

I just read on ICONOMI thread that they are working on insurance something like that, my question is  are you thinking in the direction of insuring Blockchain projects in future or forming partnership with them, but I just don't know how it will play out if ICO fund got hacked the way Slockit DAO fund was hacked, I think this is another market niche you guys can explore.

Hi! We already communicated with one world insurance company about our concept and it is interesting to them, but main their question was how it will be regulated because real Incurance is very regulated.

We will continue to attract more insurance companies to Inchain concept. I think it can be useful to all.

Because Inchain issues insurance bonds and sells them there is a risk transfer process from insured to investors. In this case, insurance fund contains enough of assets to ba able to pay insurance payments if insurance case issues. Look Inchain financial model here to better understand how it works: https://drive.google.com/open?id=0B2p42p0_z54DRzh0cmtDcGNhSEE

Cheers

Hi there

few questions popped up in mind, would like to have some clarification on them

Do you have, or plan to partner with other insurance company or financial entity?
How much of deposit contract is enough insurance? Currently the banks make bets with each other to cover insurance losses.
How do you plan to handle that? Insurance policies need deep pockets


thanks

Thank you)