[ANN][UMC] Unity Matrix Commons - Democratized Risk Management - page 16.

umbrellacoin

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Activity: 144

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Quote from: MadPanda on August 19, 2017, 12:59:51 PM

Quote from: cryptoisdafuture on August 18, 2017, 06:01:52 PM

Quote from: MadPanda on August 18, 2017, 01:29:16 PM

Hey I'm curious to know how the vote incentive system is going to work? Will this be similar to the STEEM platforms up vote system? Will there also be limits to prevent people from spamming?

Voting is mentioned in great detail including incentives for "good" voter behavior, why they will vote etc. in the white paper. I found it pretty enlightening

Thanks for pointing that out I completely missed that the first time around was skimming threw.

Question for the Devs is there going to be any potential partnerships between other ERC20 companys?

Funny you should mention that because our CEO literally just connected with the CEO of InsureX on LinkedIn and they're discussing possibly collaborating in the future.

join2

sr. member

Activity: 537

Merit: 252

i think this is a very good project that my insurance conpany fully supports this tidy hopefully will reach the maximum target of token sales good luck

MadPanda

member

Activity: 70

Merit: 10

Quote from: cryptoisdafuture on August 18, 2017, 06:01:52 PM

Quote from: MadPanda on August 18, 2017, 01:29:16 PM

Hey I'm curious to know how the vote incentive system is going to work? Will this be similar to the STEEM platforms up vote system? Will there also be limits to prevent people from spamming?

Voting is mentioned in great detail including incentives for "good" voter behavior, why they will vote etc. in the white paper. I found it pretty enlightening

Thanks for pointing that out I completely missed that the first time around was skimming threw.

Question for the Devs is there going to be any potential partnerships between other ERC20 companys?

cryptovn83

full member

Activity: 126

Merit: 100

Quote from: umbrellacoin on August 19, 2017, 11:41:16 AM

Quote from: makulo123 on August 19, 2017, 10:04:44 AM

Do you have any investors, that are planning to invest your ICO? Some advisors that are backing this platform?

I don't like to name drop, so I won't, but we've been in contact with two large American investor groups who are offering partnership/advisory along with a large seed investment. Nothing is finalized, so I don't want to jinx anything. We've also been in contact with another Korean investment group.

The insurance advisers we have are mostly still working in the industry today, so they didn't want to be listed on our site because of potential conflict of interest. We left one of our main advisers on the whitepaper (Brandon), who has worked in underwriting and sales. The adviser listed on our site is a retired actuary and we have spoken to many other former and current employees in the industry to figure out offerings that work. We may adjust some of the percentages as time goes on.

Umbrella Coin is an Intriguing Insurance-related Project. Yeah it will be very good to hear some more info about this

cryptoisdafuture

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Activity: 126

Merit: 100

Quote from: umbrellacoin on August 19, 2017, 07:32:26 AM

Quote from: BitFarmer75 on August 19, 2017, 12:10:07 AM

Quote from: cryptoisdafuture on August 18, 2017, 06:01:52 PM

Quote from: MadPanda on August 18, 2017, 01:29:16 PM

Hey I'm curious to know how the vote incentive system is going to work? Will this be similar to the STEEM platforms up vote system? Will there also be limits to prevent people from spamming?

Voting is mentioned in great detail including incentives for "good" voter behavior, why they will vote etc. in the white paper. I found it pretty enlightening

What makes a voter good or vote good?

What makes a voter good is if they're continuously active in the community and they regularly participate in votes and discussions. Again, there will be incentives for being active. What makes a vote good is if it is right - and right means that given the evidence you voted appropriately. Say someone scratched their car and filed a claim. I would expect the community to say: how much did it cost? how do we know you didn't already file an insurance claim for these damages? is there a police report? etc. We're going to allow the submitter to upload more information while the process is going on to make it more of a conversation with the community. As for assessing what's right, initially we are going to have staff with underwriting and claims experience review submissions to help build up reputation in the community.

The white paper also mentioned something about "good" vote is one which given a voter's voting history tallies it against the final outcome of their individuals vote & see how often they tally. If the number is very low, we consider there is something wrong. If it's high, then it's in the right direction. Sounds like there could be some flaws in this, such as if everyone always votes no then the one voting yes will be losing out but in white paper they said they will be encouraging voters to vote "truthfully" as their stake in the float is unrelated to whether other claims get approved. I would strongly encourage you to read the Section UMC # Voting in white paper if you're seriously considering being a customer/ investor in the project as I did.

umbrellacoin

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Activity: 144

Merit: 100

Quote from: makulo123 on August 19, 2017, 10:04:44 AM

Do you have any investors, that are planning to invest your ICO? Some advisors that are backing this platform?

I don't like to name drop, so I won't, but we've been in contact with two large American investor groups who are offering partnership/advisory along with a large seed investment. Nothing is finalized, so I don't want to jinx anything. We've also been in contact with another Korean investment group.

The insurance advisers we have are mostly still working in the industry today, so they didn't want to be listed on our site because of potential conflict of interest. We left one of our main advisers on the whitepaper (Brandon), who has worked in underwriting and sales. The adviser listed on our site is a retired actuary and we have spoken to many other former and current employees in the industry to figure out offerings that work. We may adjust some of the percentages as time goes on.

cryptovn83

full member

Activity: 126

Merit: 100

Many different types of projects are being developed on top of the Ethereum blockchain as we speak. Umbrella Coin is one of those projects and it has a lot of potential. More specifically, the team is looking into providing the next generation insurance platform. Life will happen in one way or another and being prepared for the worst is never a bad idea. There will also be an ICO for Umbrella Coin in just over 1 days 5 hours from now.
I will in and you?

makulo123

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Activity: 238

Merit: 100

Do you have any investors, that are planning to invest your ICO? Some advisors that are backing this platform?

umbrellacoin

full member

Activity: 144

Merit: 100

Quote from: BitFarmer75 on August 19, 2017, 12:10:07 AM

Quote from: cryptoisdafuture on August 18, 2017, 06:01:52 PM

Quote from: MadPanda on August 18, 2017, 01:29:16 PM

Hey I'm curious to know how the vote incentive system is going to work? Will this be similar to the STEEM platforms up vote system? Will there also be limits to prevent people from spamming?

Voting is mentioned in great detail including incentives for "good" voter behavior, why they will vote etc. in the white paper. I found it pretty enlightening

What makes a voter good or vote good?

What makes a voter good is if they're continuously active in the community and they regularly participate in votes and discussions. Again, there will be incentives for being active. What makes a vote good is if it is right - and right means that given the evidence you voted appropriately. Say someone scratched their car and filed a claim. I would expect the community to say: how much did it cost? how do we know you didn't already file an insurance claim for these damages? is there a police report? etc. We're going to allow the submitter to upload more information while the process is going on to make it more of a conversation with the community. As for assessing what's right, initially we are going to have staff with underwriting and claims experience review submissions to help build up reputation in the community.

BitFarmer75

member

Activity: 70

Merit: 10

Quote from: cryptoisdafuture on August 18, 2017, 06:01:52 PM

Quote from: MadPanda on August 18, 2017, 01:29:16 PM

Hey I'm curious to know how the vote incentive system is going to work? Will this be similar to the STEEM platforms up vote system? Will there also be limits to prevent people from spamming?

Voting is mentioned in great detail including incentives for "good" voter behavior, why they will vote etc. in the white paper. I found it pretty enlightening

What makes a voter good or vote good?

cryptoisdafuture

full member

Activity: 126

Merit: 100

Quote from: MadPanda on August 18, 2017, 01:29:16 PM

Hey I'm curious to know how the vote incentive system is going to work? Will this be similar to the STEEM platforms up vote system? Will there also be limits to prevent people from spamming?

Voting is mentioned in great detail including incentives for "good" voter behavior, why they will vote etc. in the white paper. I found it pretty enlightening

ramores8

sr. member

Activity: 560

Merit: 250

Quote from: digitalgame4life on August 17, 2017, 04:46:26 PM

Totally agree on damn governments trying to sabotage or destroy good ideas, I think if this project makes it big there will be people trying to destroy good technology, I hope this brakes the barrier and that the scamming,corrupt, lying governments and insurance companies will be on bottom level.

Like a proverb, the taller the tree grows, the greater the wind reaches it. May be attributed also in some ways including this project.
But I'm sure dev has a plan for that.

Bighero76

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Activity: 268

Merit: 100

Yes I definitely want this coin to succeed!

digitalgame4life

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Activity: 378

Merit: 105

Active forum member, A+ poster, PM good sign camp.

Quote from: Bighero76 on August 17, 2017, 08:45:21 PM

Wow definitely sounds like a great coin.

OP can you PM me??

I actually have some good input as I am somewhat familiar with the industry you're targeting!

What a sphere, I hope you can be of good help, a big and good community always helps!

MadPanda

member

Activity: 70

Merit: 10

Hey I'm curious to know how the vote incentive system is going to work? Will this be similar to the STEEM platforms up vote system? Will there also be limits to prevent people from spamming?

Mokel

sr. member

Activity: 364

Merit: 251

I'm running this project and I hope ico from this project can be successful because I see this project that has a very bright future

umbrellacoin

full member

Activity: 144

Merit: 100

Quote from: AshCoins on August 18, 2017, 11:07:35 AM

I'm surprised this project isn't getting more hype on this forum as it's getting a decent amount of press. It's an ambitious project but could really be a game changer in the insurance industry.

Thanks! We do think it's ambitious, but short-term I think everything we've set forth is very achievable. Long-term we hope this can be an extremely huge challenger to traditional insurance.

AshCoins

full member

Activity: 336

Merit: 102

I'm surprised this project isn't getting more hype on this forum as it's getting a decent amount of press. It's an ambitious project but could really be a game changer in the insurance industry.

umbrellacoin

full member

Activity: 144

Merit: 100

Quote from: cryptoisdafuture on August 18, 2017, 10:43:00 AM

But from what I understand, you need UMC coins to buy the policy, right? They can't be bought using fiat currency/ Ether?

Yes. That is correct. In order to participate on our network you need UMC tokens. We don't have plans to accept fiat/Ether/other coins at this time. Maybe we'll add that in the distant future, but let's take one step at a time

cryptoisdafuture

full member

Activity: 126

Merit: 100

But from what I understand, you need UMC coins to buy the policy, right? They can't be bought using fiat currency/ Ether?

Topic: [ANN][UMC] Unity Matrix Commons - Democratized Risk Management - page 16. (Read 65530 times)