What are the major currencies you are supporting for the payments and what are the specific countries you are targeting in the beginning because now there are many countries involving in cryptocurrency and paying insurances and how far your project is helpful to the community?
Thanks. Now there are a couple of separate questions here, addressing one by one:
1) Black is a crowdsourcing platform that enables brokers to come up with their own insurance schemes, and fund the schemes by selling "shares" to crypto investors. We already have close to 60 brokers, doing $350M sales annually who want to work with us. These brokers continue to transact with their existing customers, using whichever currency the customers prefer. Once the brokers have received the insurance payments (premiums), they convert it to BLCK tokens and bring to the platform.
The advantages of this approach are twofold: first, we don't have to worry about sales - the brokers already come with the customers, and second, the customers will not have to start using cryptocurrencies and this way we have a far larger target market.
2) We are targeting the European Union market first, since the insurance regulation is the most relaxed here.
3) In terms of helping the communities. First, Black will start issuing "insurance backed security tokens" in the future. This is an absolutely new crypto asset class, and we will pave the way for others to come and create their own crypto-based ETF-s and other crypto securities investment schemes. Second, since insurance industry has been real lazy to cover risks in emerging markets (mainly Africa), Black could potentially help a lot of farmers, artisans and others who currently suffer great losses since no access to insurance.
