Topic: [ANN][ICO] Bit Life and Trust - Insurance powered by the Blockchain - page 2. (Read 1326 times)

The fund value is the total market cap of the token, the tokens are both used to fund and payout the policy. We are working with regulators as required.

Are you sure ? about transcation on insurance using a nature anonymous ? Thats really be a big problem. were all transactions must transparent, while the bitcoin is the opposite. Because it concerns about insurance that is clear and must happen.

to offer insurance legally should there be some kind of fund or bond that assures the validity of said insurance? simply because it is on the blockchain does not justify the lack of regulation by insurance issuers.

reserved

http://imgur.com/mwC7EhE
http://imgur.com/0DRsMx6



I.   The Vision
Prior to the modern age, communities formed around geographic locations. These communities shared in each other’s success and losses. When a member of the community suffered a loss, each of the community members would help in covering the cost of the loss. As the world modernized, companies formed to take over this assignment, in the form of insurance, and communities began to disconnect from the process. Today, the world is growing into a global community where geography is no longer a necessary limit. We believe the global community can be brought closer together and gain a vested interested in the well being of there fellow humankind through a globally shared trust, built and secured on the blockchain.

II.   The Plan
Through blockchain and smart contract technology, BitLifeAndTrust aspires to disrupt the conventional broker markets in the insurance industry by returning the power of the markets to the communities which support it. BitLifeAndTrust will build a protocol for insurance products that are selected, funded and managed for the benefit of society. Our participants are you and others who fund the work of this project, the insured, who are made whole after a loss and everyone who believes in transparency without geographic boundaries. We aim to reduce the cost of all insurance in life, property, consumer goods, legal and others by putting the insured first. We aim to simplify claims processing by shifting the financial incentives from the seller to the claims processor and by creating competition among processors. Let’s together achieve the right to build a brighter future for you, those you care about and our global community. We invite you to participate in our shared beliefs, aspirations and desire for success. Thank you to the creators of blockchain, cryptocurrency and smart contract for making this all possible.  
Take the next step and read our WhitePaper!

III.   Timeline
Q2 2017   
Initial platform design
Development of Dapp logical design
Website launch

Q3 2017   
Buildout of core team and advisors
Published Whitepaper
Token Issuing Event

Q4 2017   
Begin Validator recruitment
Platform development
Testnet deployment of platform – phase I

Q2 2018   
Production deployment of platform – phase I
Deployment of Consumer Facing Web Application

Q4 2018   
Production deployment of platform – phase II
Contract focus areas: Term Life, Dismemberment   
Deployment of mobile app
Continue building network of Validators and Assistants           

Q2 2019   
Production deployment of platform – phase III
Contract focus areas: Consumer goods, Property