In last three years, VouchForMe has walked a long road from a great idea to a most serious business. Since we are aware insurance is one of the most regulated industries, we want to ensure optimum conditions for achieving our goals in the set time. Our team is 100% passionate and absolutely committed to delivering our promise to you.
Check VouchForMe roadmap
https://vouchforme.co/roadmap/
Topic: [IPL] VouchForMe | Distributed social proof insurance - page 8. (Read 2732 times)
Behind the scenes work
Meanwhile, our backend engineers are working hard to implement all the functions that are needed for the user interface to really spring to life and operate reliably. Special attention is given to localization, i.e., making sure that individual VouchForMe implementations in various regions share the same infrastructure while appearing local in terms of language, time format, currency, etc. The goal is to ensure that minimal effort is going to be required by the tech team to add individual local instances in the future — with each of them still getting the exact touch and feel its local users expect.
it is nice to see that team is working
Meanwhile, our backend engineers are working hard to implement all the functions that are needed for the user interface to really spring to life and operate reliably. Special attention is given to localization, i.e., making sure that individual VouchForMe implementations in various regions share the same infrastructure while appearing local in terms of language, time format, currency, etc. The goal is to ensure that minimal effort is going to be required by the tech team to add individual local instances in the future — with each of them still getting the exact touch and feel its local users expect.
it is nice to see that team is working
A month has passed since our last business development update was published and since there has been a lot of improvements and implementations made to the platform, we felt the need to give you, our supporters a brand new preview into what is happening behind closed doors. We know many of you are patiently (and some quite anxiously) waiting to see our progress on the platform development so without further ado, here in front of you is a quick recap of our main activities. Enjoy!
Front-end fine-tuning
Last month, we have shared some screenshots of how the future VouchForMe user interface will look like. Our front-end developers are currently making the final text corrections and other visual content. The main goal is to chase all remaining Lorem-ipsum-kind-of-wording to make space for the carefully crafted copy texts that have been put together by our product and marketing gurus.
Behind the scenes work
Meanwhile, our backend engineers are working hard to implement all the functions that are needed for the user interface to really spring to life and operate reliably. Special attention is given to localization, i.e., making sure that individual VouchForMe implementations in various regions share the same infrastructure while appearing local in terms of language, time format, currency, etc. The goal is to ensure that minimal effort is going to be required by the tech team to add individual local instances in the future — with each of them still getting the exact touch and feel its local users expect.
Smart contract implementation
Blockchain software development is also well underway. Our tech team admits that the initial planning for the Blockchain part of VouchForMe platform was quite challenging since technology around it, is still in its beginnings. So consequently, many engineering decisions we had to make were not so simple and obvious, for example one of those decisions was, if we want the nature of the Blockchain network to be private or public, since we had to contemplate between transparency and privacy of user data. And this was something that was needed to be resolved, before the first line of code could be written.
Besides everything, we are happy to confirm that the first version of the smart contract is finished and that the team will begin implementing data encryption features and interfaces for communication with the VouchForMe back-end.
Front-end fine-tuning
Last month, we have shared some screenshots of how the future VouchForMe user interface will look like. Our front-end developers are currently making the final text corrections and other visual content. The main goal is to chase all remaining Lorem-ipsum-kind-of-wording to make space for the carefully crafted copy texts that have been put together by our product and marketing gurus.
Behind the scenes work
Meanwhile, our backend engineers are working hard to implement all the functions that are needed for the user interface to really spring to life and operate reliably. Special attention is given to localization, i.e., making sure that individual VouchForMe implementations in various regions share the same infrastructure while appearing local in terms of language, time format, currency, etc. The goal is to ensure that minimal effort is going to be required by the tech team to add individual local instances in the future — with each of them still getting the exact touch and feel its local users expect.
Smart contract implementation
Blockchain software development is also well underway. Our tech team admits that the initial planning for the Blockchain part of VouchForMe platform was quite challenging since technology around it, is still in its beginnings. So consequently, many engineering decisions we had to make were not so simple and obvious, for example one of those decisions was, if we want the nature of the Blockchain network to be private or public, since we had to contemplate between transparency and privacy of user data. And this was something that was needed to be resolved, before the first line of code could be written.
Besides everything, we are happy to confirm that the first version of the smart contract is finished and that the team will begin implementing data encryption features and interfaces for communication with the VouchForMe back-end.
Very promising project - we will see in few years what will idea&platform brings
Meet our Co-Founder Tom, next week at Swiss InsureTech #meetup, Switzerland's number 1 open platform for expertise exchange on #insurtech.
Excited to be invited among inspiring individuals who are actively shaping this ecosystem.
Stay tuned on VouchForMe Twitter
https://twitter.com/Vouchforme_co
Excited to be invited among inspiring individuals who are actively shaping this ecosystem.
Stay tuned on VouchForMe Twitter
https://twitter.com/Vouchforme_co
Previous Friday we held AMA on our official Reddit channel and were blown away with some really amazing and some a bit quirky questions. For those who were unable to join in on the discussion or those who are still dipping their legs in the cold water of the sea, disconnected from the world, here is a recap of all the questions and answers.
Q: How will the platform interact with the blockchain? Are you going to build your own blockchain?
A: Endorsements will be written on Blockchain as they come in. This data will include IDs of the endorser and the endorsee, the date on which the endorsement was made, as well as guarantee and amount of a reward (in fiat or IPL, respectively). All information will be encrypted and protected to ensure compliance with data security and privacy regulations. At the same time, Blockchain technology will help us make the data transparent, trustworthy and available at all times. As for our own Blockchain network, for now we are sticking to Ethereum and we’ll discuss any additional next steps when the time is right.
Q: When moon or at least lambo?
))
A: We are shooting for the stars! Meanwhile if we will land on the Moon it wouldn’t be too bad either.
Q: Are there any new team members in the team?
A: Yes, as a matter of fact we just expanded our team for one new member. Lučka Čokl Preis joined in on a position of a CMO at the beginning of August and we’re excited to have her on board with us. So, more intense activity on the marketing side is expected to come. Besides that, we plan to expand our team as time progresses and when we’ll need new backups.
Q: I check team on new website www.Vouchforme.co, will there be in near future any new team members? and in which field?
A: As explained before, we just expanded our team for one new additional team member who will take over the position of a CMO. Besides that, we plan to expand our team as time progresses and when we’ll need new backups.
Q: ICO reached HardCap…and now… until release of platform Ii am wondering how you will bring IPL token into action? Thank you for your answers. HODL investor
A: IPL tokens are used as fuel for the social proof business ecosystem. They are sent to endorsers as reward for their endorsements. As more and more people endorse, more and more tokens need to be awarded, which is expected to create scarcity and boost IPL price. Apart from selling them, endorsers will be able to redeem tokens for services such as insurance with VouchForMe’s partner companies.
Q: Why rebranding? I like name VouchForMe but why? Ii don’t understand really good
A: The decision comes with the realization that our Social Proof concept shouldn’t be limited only to insurance.This was confirmed in the second half of the year when we started to push our idea to the global market and received inquiries from divergent industries. In that sense, we had to make sure that our brand follows the business. We had to prepare the ground and create a name which better represents our long-term vision and does not limit our potential to grow.
Q: Hello, first of all I would like to complement the team for everything you’ve done so far, I think it’s very impressive! Looking forward for implementation of social proof wherever possible. In the lightpaper there is a visual presentation of user case (JOHN with $1000 car insurance and Mary as his endorser). This is copied from the lightpaper: “When Mary enters her credit card data, she exposes herself to a potential payment of $550 ($400 of John’s savings, $100 of her cash-back bonus and $50 of penalties).”
My question regarding the statement above:
What happens with exposure of endorsers in case of a claim if let say there are 4 (Mary, Kate, Ann, Linn)? Is this correct — everyone of them pays $250 ($100 of John’s savings, $100 of the cash-back bonus and $50 of penalties)? Does number of endorsers in any(other) way effect John-the endorsee? Can only one endorser, lets say Mary endorse for only $100 of John’s savings, not full 400$? That would probably result in higher cost for John (he would then pay 900$ and not 600$, right?).
I hope my question is clear enough Thank you for your answer and good luck in future endeavors.
A: In essence, you invite your friends to vouch for you. It’s up to you how many of them would you invite, and it’s up to them to decide how much they want to vouch for. Everybody can see how much endorsement you still need to collect. What does affect you is the value of endorsements you’ve collected. If this value is lower than the amount you’ve asked for then you’ll get less discount on an insurance premium (or some other service). In the case of a claim, if there is more than one endorser the value of the claim is distributed consistently with the value of endorsements they’ve made.
Q: You have changed the name to VouchForMe because you “of the realization that our Social Proof concept cannot and should not be limited only to insurtech”. Don’t you think that you are punching above your weight when trying to cover more than the insuretech field? It seems to me that there is a bit of improvisation here, even though I know you are working hard. I can imagine you will answer something like long-term-thinking, strategic-long-term, etc. but it would be great if you can specify concrete examples of what you would like to cover and what kind of roadmap are you following, since the one in the website/whitepaper is quite broad. Much appreciated.
A: This move isn’t something that would come unexpected to us since our long-term vision was always to cover numerous industries when insurance was just one of them. This name only gives more of a feel what this platform really is about, it’s all about social proof and vouching for someone. There were many times when we were mistaken for an insurance company, thinking we’re selling insurance policies or acting as a mediator between insurance companies — which we’re not. By rebranding to the name VouchForMe it lets us focus on what we have intended from the start: building a strong social proof platform suitable for numerous industries. Just a few of the industries that we plan to cover are B2B and Real Estate market. However, we’re still following the same roadmap, nothing changes expect our spectrum has broaden.
Q: Any new partnerships or markets?
A: Yes, of course, all in due time. We are not focused only to one cooperation — there are many, but they are at the different stages. We will make sure community is well informed when new partnerships will be signed and confirmed.
Q: Are there really no lawsuits in place? i read some rumors in telegram?
A: No, we can definitely and honestly confirm that there are no lawsuits in place. Rumors spread fast and easy so it’s better to not pay too much attention to it.
Q: Why didn’t you inform community about rebranding sooner?
A: The approach for a new website and brand was agreed up-front and the community was informed about the change. Also, we didn’t close the whole thing on the same day, but we accepted and implemented some of the proposals from the community. Thank you for your support.
Q: Who would win in an arm-wrestling competition: Matt Peterman or Tom Volk?
A: It depends what would be on the table. If by any chance there ever comes to an arm-wrestling competition, we’ll make sure to document it and let you know.
www.VouchForMe.co
Q: How will the platform interact with the blockchain? Are you going to build your own blockchain?
A: Endorsements will be written on Blockchain as they come in. This data will include IDs of the endorser and the endorsee, the date on which the endorsement was made, as well as guarantee and amount of a reward (in fiat or IPL, respectively). All information will be encrypted and protected to ensure compliance with data security and privacy regulations. At the same time, Blockchain technology will help us make the data transparent, trustworthy and available at all times. As for our own Blockchain network, for now we are sticking to Ethereum and we’ll discuss any additional next steps when the time is right.
Q: When moon or at least lambo?
))A: We are shooting for the stars! Meanwhile if we will land on the Moon it wouldn’t be too bad either.
Q: Are there any new team members in the team?
A: Yes, as a matter of fact we just expanded our team for one new member. Lučka Čokl Preis joined in on a position of a CMO at the beginning of August and we’re excited to have her on board with us. So, more intense activity on the marketing side is expected to come. Besides that, we plan to expand our team as time progresses and when we’ll need new backups.
Q: I check team on new website www.Vouchforme.co, will there be in near future any new team members? and in which field?
A: As explained before, we just expanded our team for one new additional team member who will take over the position of a CMO. Besides that, we plan to expand our team as time progresses and when we’ll need new backups.
Q: ICO reached HardCap…and now… until release of platform Ii am wondering how you will bring IPL token into action? Thank you for your answers. HODL investor
A: IPL tokens are used as fuel for the social proof business ecosystem. They are sent to endorsers as reward for their endorsements. As more and more people endorse, more and more tokens need to be awarded, which is expected to create scarcity and boost IPL price. Apart from selling them, endorsers will be able to redeem tokens for services such as insurance with VouchForMe’s partner companies.
Q: Why rebranding? I like name VouchForMe but why? Ii don’t understand really good
A: The decision comes with the realization that our Social Proof concept shouldn’t be limited only to insurance.This was confirmed in the second half of the year when we started to push our idea to the global market and received inquiries from divergent industries. In that sense, we had to make sure that our brand follows the business. We had to prepare the ground and create a name which better represents our long-term vision and does not limit our potential to grow.
Q: Hello, first of all I would like to complement the team for everything you’ve done so far, I think it’s very impressive! Looking forward for implementation of social proof wherever possible. In the lightpaper there is a visual presentation of user case (JOHN with $1000 car insurance and Mary as his endorser). This is copied from the lightpaper: “When Mary enters her credit card data, she exposes herself to a potential payment of $550 ($400 of John’s savings, $100 of her cash-back bonus and $50 of penalties).”
My question regarding the statement above:
What happens with exposure of endorsers in case of a claim if let say there are 4 (Mary, Kate, Ann, Linn)? Is this correct — everyone of them pays $250 ($100 of John’s savings, $100 of the cash-back bonus and $50 of penalties)? Does number of endorsers in any(other) way effect John-the endorsee? Can only one endorser, lets say Mary endorse for only $100 of John’s savings, not full 400$? That would probably result in higher cost for John (he would then pay 900$ and not 600$, right?).
I hope my question is clear enough
Thank you for your answer and good luck in future endeavors.A: In essence, you invite your friends to vouch for you. It’s up to you how many of them would you invite, and it’s up to them to decide how much they want to vouch for. Everybody can see how much endorsement you still need to collect. What does affect you is the value of endorsements you’ve collected. If this value is lower than the amount you’ve asked for then you’ll get less discount on an insurance premium (or some other service). In the case of a claim, if there is more than one endorser the value of the claim is distributed consistently with the value of endorsements they’ve made.
Q: You have changed the name to VouchForMe because you “of the realization that our Social Proof concept cannot and should not be limited only to insurtech”. Don’t you think that you are punching above your weight when trying to cover more than the insuretech field? It seems to me that there is a bit of improvisation here, even though I know you are working hard. I can imagine you will answer something like long-term-thinking, strategic-long-term, etc. but it would be great if you can specify concrete examples of what you would like to cover and what kind of roadmap are you following, since the one in the website/whitepaper is quite broad. Much appreciated.
A: This move isn’t something that would come unexpected to us since our long-term vision was always to cover numerous industries when insurance was just one of them. This name only gives more of a feel what this platform really is about, it’s all about social proof and vouching for someone. There were many times when we were mistaken for an insurance company, thinking we’re selling insurance policies or acting as a mediator between insurance companies — which we’re not. By rebranding to the name VouchForMe it lets us focus on what we have intended from the start: building a strong social proof platform suitable for numerous industries. Just a few of the industries that we plan to cover are B2B and Real Estate market. However, we’re still following the same roadmap, nothing changes expect our spectrum has broaden.
Q: Any new partnerships or markets?
A: Yes, of course, all in due time. We are not focused only to one cooperation — there are many, but they are at the different stages. We will make sure community is well informed when new partnerships will be signed and confirmed.
Q: Are there really no lawsuits in place? i read some rumors in telegram?
A: No, we can definitely and honestly confirm that there are no lawsuits in place. Rumors spread fast and easy so it’s better to not pay too much attention to it.
Q: Why didn’t you inform community about rebranding sooner?
A: The approach for a new website and brand was agreed up-front and the community was informed about the change. Also, we didn’t close the whole thing on the same day, but we accepted and implemented some of the proposals from the community. Thank you for your support.
Q: Who would win in an arm-wrestling competition: Matt Peterman or Tom Volk?
A: It depends what would be on the table. If by any chance there ever comes to an arm-wrestling competition, we’ll make sure to document it and let you know.
www.VouchForMe.co
VouchForMe AMA AUGUST 2018 Recap
https://medium.com/insurepal-blog/vouchforme-ama-august-2018-recap-45dc67256993
https://medium.com/insurepal-blog/vouchforme-ama-august-2018-recap-45dc67256993
I cant wait to see this project develop, this is one of the areas I have the biggest issue with crypto not being safe or easy to get into.
a very interesting project, have seen quite of them and I think this one is really atractive!!!
Roadmap
In last three years, VouchForMe has walked a long road from a great idea to a most serious business. Since we are aware insurance is one of the most regulated industries, we want to ensure optimum conditions for achieving our goals in the set time. Our team is 100% passionate and absolutely committed to delivering our promise to you.
https://vouchforme.co/roadmap/
In last three years, VouchForMe has walked a long road from a great idea to a most serious business. Since we are aware insurance is one of the most regulated industries, we want to ensure optimum conditions for achieving our goals in the set time. Our team is 100% passionate and absolutely committed to delivering our promise to you.
https://vouchforme.co/roadmap/
The science of social proof
“Social proof is a natural, built-in mechanism within all of us, representing people’s moral compass.”
The endorser offers a financial guarantee for a trusted friend or for another individual. This creates a positive incentive for the endorsee and requires the endorser to perform a personal due diligence. Through endorsements, the entire network becomes more risk aware, encouraging a change in behaviour.
“Social proof is a natural, built-in mechanism within all of us, representing people’s moral compass.”
The endorser offers a financial guarantee for a trusted friend or for another individual. This creates a positive incentive for the endorsee and requires the endorser to perform a personal due diligence. Through endorsements, the entire network becomes more risk aware, encouraging a change in behaviour.
a new type of insurance, provided that it will bring equality to all people, it is human progress and technology that must continue to be developed and have a great influence on humans in the future.
Sir, I think it needs more information about IPL token. It will be better to share adequate info or description of your token in this thread. So, people will directly understand about its total supply, price, and allocation for sale.
VouchForMe is a self-regulating blockchain platform based on decentralization and social proofing. Individuals can reduce insurance and other business deposit costs using a social proof endorsement.
The value of IPL token
The value of any decentralized economy becomes the value of its underlying economy.
In case of VouchForMe, this is the role of a social proof that motivates diligent users with bigger insurance discounts and endorsers with engaging incentives. Tokenizing property allows VouchForMe to uniquely identify insurance assets and transform the social proof information to other types of businesses via a digital record.
The three pillars of the new decentralized insurance
The crypto is expanding from digital trading to something that will soon become a vibrant parallel economy.
VouchForMe is making important strategic partnerships to build the three basic pillars of future business represented by blockchain ID, arbitrage and insurance. They will help grow confidence among all the stakeholders and massively speed up the business operations on the blockchain.
IPL token liquidity pool
VouchForMe platform will use different means to motivate participants.
Discount conversion to tokens will be incentivized, therefore VouchForMe will have to convert significant percentage of each new premium into IPL tokens and give them back to the policyholders and their endorsers. All third-parties selling their social proof insurance will also have options to use IPL tokens and trade them on exchanges.
How IPL tokens could be used
As an Insurance Premium Bonus
To obtain new insurance, the insured will have to upload a photo of their existing insurance policy so that VouchForMe can calculate a discount.
Doing so, every client will receive a specific number of IPL token (20% less for a cash discount), growing proportionally with the number of endorsements received.
As Credit Score and social Proof Score
Social proof endorsers will be able to make the guarantee with the credit card or via a smart contract.
Their social proof guarantee will consist of relevant information on the client (the insurance holder) and will serve to them as a credit report. If several endorsers will guarantee for the same person, their credit score will proportionally increase in value. In parallel to token transactions, these information will be stored in the general ledger being partially encrypted and partially public. The encrypted part will only be disclosed publicly if its holder approves.
As Claims Adjustment
In the future, the VouchForMe may appoint some members of their VouchForMe community to process and report on the claims, a service that will have a financial incentive.
Claims which will go beyond an agreed threshold (exact amount to be decided) will be decided by professional claims adjusters who will report their recommendations to VouchForMe before informing the client. In essence, there will be no need for an insurance company involvement as everything will be settled by the community on the bases of blockchain and smart contracts.
For Insurance of Blockchain Business Transactions
This type of insurance will be conducted in IPL tokens solely.
The incentives for the endorsers will be paid in IPL tokens as well, whereas their guarantee can be done with other means as well. All fees coming from the side of possible participating insurance companies and other third-parties will have to be paid with IPL tokens too.
As an upfront Incentive
For each new social proof guarantee, the endorser will receive an incentive in local fiat currency or in IPL tokens.
The endorser will be able to sell the IPL tokens immediately, speculate and wait for an even higher market value or save them to buy/renew their insurance policy in the future or to pay some services at shops where they will accept IPL.
As a Social Proof Identity
The clients holding IPL will be able to identify themselves within the VouchForMe Community.
In the long run, they will be able to sell their own social proof guarantee without revealing their identity to institutions or reinsurers in order to get the guarantee and a proportionate share of their insurance premium.
Token Details
Token supply: 300.000.000 IPL
Distributed in the crowdsale: 201.000.000 IPL (67 %)
Symbol/Ticker: IPL
Decimals: 18
Initial value: $ 0,10
Token standard: ERC-20
Crowdsale details
Start date: 16 January 2018
End date: 16 January 2018
Token distribution date: immediately after the crowdsale
Accepted currencies: ETH
Soft cap: $ 5.000.0000
Hard cap: $ 18.000.000
Sir, I think it needs more information about IPL token. It will be better to share adequate info or description of your token in this thread. So, people will directly understand about its total supply, price, and allocation for sale.
insurance to my knowledge until now only used by rich people. if you develop an insurance replacement system how will the community really understand about the modern insurance model that you created
Hi
Mutual Roots of Insurance
Social proofing is nothing new, Peterman and Volk emphasize. It actually harks back to the roots of commercial insurance when shipowners in Edward Lloyd’s coffee house in London—the precursor of Lloyd’s of London—decided to band together to share, or mutualize, the risk of shipping goods to the New World and back. Volk explained that these shipowners knew each other—and knew very well which of their compatriots were responsible, maintained their vessels and hired good captains. “If one owner stopped being diligent and responsible, stopped maintaining ships, or hired bad captains, they would expel him [from the risk],” he said.
https://www.lloyds.com/~/media/lloyds/reports/360/360-other/insuranceindevelopingcountries.pdf
insurance to my knowledge until now only used by rich people. if you develop an insurance replacement system how will the community really understand about the modern insurance model that you created
In few years with adoption and fresh platform VouchForMe will land on Venera for sure
On which exchanges can i buy VouchForMe IPL token?
You can trade IPL token (VouchForMe) on HitBTC, Coinbe, Livecoin, Mercatox
And we are in progress with new exchanges...stay tuned for more news in near future
stable and progress is going on regarding whitepaper plans
love it
love it
dude check coinmarketcap
$0.022811 USD (0.77%)
0.00000326 BTC (7.55%)
0.00005587 ETH (3.01%)
https://coinmarketcap.com/currencies/insurepal/
1 HitBTCHitBTC IPL/BTC $223,208 $0.022817 99.22% Spot Percentage Recently
2 CoinbeCoinbe IPL/BTC $1,401 $0.022117 0.62% Spot Percentage Recently
3 HitBTCHitBTC IPL/ETH $208 $0.022620 0.09% Spot Percentage Recently
4 LivecoinLivecoin IPL/ETH $77 $0.019599 0.03% Spot Percentage Recently
5 LivecoinLivecoin IPL/BTC $62 $0.020927 0.03% Spot Percentage Recently
and i think latest was MercatoX
$0.022811 USD (0.77%)
0.00000326 BTC (7.55%)
0.00005587 ETH (3.01%)
https://coinmarketcap.com/currencies/insurepal/
1 HitBTCHitBTC IPL/BTC $223,208 $0.022817 99.22% Spot Percentage Recently
2 CoinbeCoinbe IPL/BTC $1,401 $0.022117 0.62% Spot Percentage Recently
3 HitBTCHitBTC IPL/ETH $208 $0.022620 0.09% Spot Percentage Recently
4 LivecoinLivecoin IPL/ETH $77 $0.019599 0.03% Spot Percentage Recently
5 LivecoinLivecoin IPL/BTC $62 $0.020927 0.03% Spot Percentage Recently
and i think latest was MercatoX
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