Topic: Umbrella Coin - page 2. (Read 3020 times)

There prototype is up on the site now, Its not finished yet but kind of gives you a idea how the voting and claims system will work, When it comes to the market it has been exploding for the last 2 weeks but I feel there's gonna be a correction especially for NEO and QTUM, If Neo works outside of China then yes it could as its service is much more versatile than ETH. 

Hey thank you for the links. I didn't have much time to read them. I am going to look into deep on the voting system. Also, i notice that gas and neo is blowing up too. If only I had a time machine ...... is Neo is going to beat ETH.

So I check up on this ICO every few days and I've Been bouncing around looking for news today and found these two articles about Umbrella Coin.

http://ethereumworldnews.com/insurance-industry-to-be-changed-by-blockchain-technology/

https://themerkle.com/umbrella-coin-aims-to-change-the-insurance-industry/


They also got listed on a few ICO websites and these are the ones I've found so far.

https://www.icocountdown.com/
https://tokenmarket.net/blockchain/ethereum/assets/umbrella-coin/
https://www.coingecko.com/ico/umbrellacoin?locale=en

If you guys find anymore listings let me know but I'm liking this movement and this project seems to be getting a lot of support as there ICO grows closer to release.

I didn’t know Umbrella coin before. Just read your link and searched white paper. It is built on the Ethereum blockchain. Seems it’s a good concept and good team handling it. Still it is in growing stage, so at this moment we cannot say anything for sure until ico get success. Hope it may has a bright future?

I think umbrella coin is a promising project, and I admire the project team profile umbrella coin, by the way I've joined in twitter and facebook bounty umbrella coin

I'm interested with this ICO, Insurance is a huge market share. This is an opportunity, and I see this is a good concept. 

It is possible in the future that umbrella coin could get partners?

And they're getting listed in various sites such as ICO Countdown, Dapps.ethercast etc. and got a very high rating (4.1) by a rating company (I will have to look up which one it was-- don't remember off the top of my head). A hard-working team with a committed marketing is what makes a product great and I see the future to be bright with UmbrellaCoin.

Umbrella Coin is a next generation insurance platform built on the Ethereum blockchain. Our goal is to provide value to our policyholders with residual benefits when life events happen.

I think it might be worth it. I read their print newspapers and it makes a lot of sense. investment made in this coins may yield good returns for future.

The site isn't the most flashy but its still good and understandable, The white paper has evolved quite a bit from the start and the progress there team has made is a sign that there's good potential here.
They just drop there bonus for the pre-release with a 100% more tokens for the first 5000 ETH dropped along with a update for there client on the medium.

Yea, I read the whitepaper-- it sounded like a legitimately good idea. I had some concerns, and indeed started a post to seek opinions on investing into this ICO. Their team sounds good + they have working prototypes already, and they're filling in a much needed space. I am sorry I kind of missed what your objections were?

are you kidding me ?
you had read the whitepaper?
have you see the website ?
nobody is foolish in this website,I think you just want some guys join in this project
it's ridiculous

Holy shit, I missed the bit on presale. Is it already on? Where did you read it? If there is some bonus, I better get on this quick.

Umbrella coin still in ico so if we like the system of this coin, we can always support this coin through buying token or promoting this coin

this coin is now presale mode.The team are trying to promote their project.So at this moment we cant sure about this project.but the if the ico will be success then we can think positive avout umbrella coin.

 agree with him i believe i had a glimpse with this umbrella thing but not yet read it in details. As per the comment above i reccomend the same thing. Conduct some researches about the devs and the project alone that will.l help you determine if it's really a promising ICO.

I do like the fact they aren't becoming yet another insurance firm using blockchain rather than traditional structures. Then you'll face regulatory hurdles sooner or later, and eventually be taken down by the insurance cartel. Complementing insurance is a smart idea, where these guys are covering hidden costs such as deductibles, pre-existing conditions, copays etc. which insurances due to their monopolies deny. So for the product, I am really optimistic.

As far as business model and money-making potential, I've been trying to follow them on various platforms to get a better idea and my best guess is they're relying on 1) investing unpaid amounts into other cryptocurrencies or just let UMC gain in value by creating an increased demand for their products; 2) have termination fees for canceling policies mid-term. There was discussion in the white-paper on various strategies to keep the pool solvent.

The only concern from these remains is how legitimate these guys are. There I started analyzing with credentials: developers in decent companies, with a fair mix of some marketing guys. They've a github page, which keeps getting updated. But the most surprising for me was having a staging app much before their crowdsale. That made me optimistic they are actually in it for building the product, and not just asking for our money like many other ICOs have done. One thing which scares me is regulatory hurdles they might face down the road if ICO's start getting regulated by SEC, but as of now that's not a concern so I am Bullish on it.

While I love this project Its Dev teams experience, and its potential to help the community it has going for it,  I'm still curious to know what kind of defenses this platform will have from potential for Facebook/Reddit/4chan groups trying to exploit the voting system. I know there's talk about vote limitation but what about someone who creates multiple accounts?

I don't know much about this coin and it's quite young but if its project will attract a lot of investors, then i think it will have a promising future. However, since this coin is new and still needs further development, we can never expect a 100% assurance that it will truly succeed but we can cross our fingers and hope it will.