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POLICYPAL .. Electronic Currency Insurance Network

2018-02-15 05:34 pm | Resource: Crypto Section | No Views : 294

POLICYPAL .. Electronic Currency Insurance Network We will talk today about a quick review of the company's policypal project in the field of electronic currencies. We will also explain what the idea of ​​this project is, the advantages and disadvantages of this project, the timing of implementation of the project, the members involved and its support for electronic currencies.
 
Project Name: Policypal Network.
Code: PYPL
Website: https://www.policypal.network/
White paper: https://www.policypal.network/whitepaper/PolicyPal_WhitePaper.pdf
Fixed cover: 23.809 Ethereum for 50% of the total codes
Conversion rate: 1 Ethereum = 21,000 PYPL
The maximum market in the ICO on a fully diluted basis: $ 44 million assuming the current price of the Ethereum $ 925
Bonus structure: 0-20% for shareholders with no lock-up period
Whitelist: Closed
Excluded countries: United States of America and China
Schedule: Main sale in March
Distribution Date: Two weeks

What does the company do?

Policypal, an unregulated platform based on a vision, is to grant non-bank access to insurance protection by reducing the barriers associated with traditional insurance coverage.
With the use of blockchain technology, Policypal hopes to increase overall access to insurance and full network protection, while providing faster, safer and more transparent service.
The company operates within Singapore and targets emerging markets overseas, and has two lines of action to launch:
  1. Encrypted Protection: Cybersecurity is in partnership with insurance companies to protect the assets of electronic currencies. The encryption protection service will be classified under the AA symbol by global insurance companies, thereby protecting the assets of emerging companies in the field of electronic currency mining.
  2. P2P Mutual Assistance: Policypal Network plans to provide a low barrier to entry, and the relative insurance coverage of communities that can not access coverage includes agricultural products, property, and life insurance, as well as a personal accident plan.
The following diagram shows how Policypal works very short.
The graph shows how Policypal works
Through the use of blockchain technology and 24-hour Policypal features, the network tries to provide real-time transactions, transparency of information, automatic verification, auditing, full transaction history and improved efficiency.
In addition, the network plans to reduce insurance fraud using intelligent contracts and reliable third-party data.

How advanced is the project?

Policypal is a registered insurance broker in Singapore and also works with international insurance companies such as Allianz, AIG, Aviva, AXA, Income, Etiqa, Manulife, Sompo, Liberty, Ergo, MSIG, Singapore Life, Tokio Marine and Chubb. , The network was established with 32,000 users in Singapore for 12 months.
In April 2016, Policypal was selected by Singapore's StartupbootcampFintech as one of the top 10 startups to be accelerated out of 400 emerging companies across Asia and the Pacific.
In July 2017, Policypal was selected as one of three start-ups selected by paypal for its nine-month Singapore-based program.
 

Plan approved to form a network mode map

  • In the second quarter of 2018:

Launch of the Policypal Alpha version on the Ethereum test network.
Launch of Alpha version to secure and protect Crypto.
Launch of the ecosystem version of Policypal.
In the third quarter of 2018:
Launch the Beta version of the Policypal network on the main Ethereum.
  • In the fourth quarter of 2018:

Launch of the Policypal Alpha version on the network of blockchain.
Launch of the Beta version on the Blockchain network.
Exchange codes PYPL ERC-20 for Network Policypal.
The launch of secure P2P mutual aid.
  • In the first quarter of 2019:

Launch of electronic currency insurance with international insurance companies.
Further expansion in other Asian countries.
In the first phase of the launch, Policypal will be developed on the Ethylene Blockchain chain as evidence of the agreed concept and principle, and then, their own network will be developed on the Blockchain with special Ethereum codes, which will be designed for insurance products across many markets. It will include two side chains: two plasma expansion range and insurance, and P2PSecure for privacy and security.

What symbols are used and how can they be evaluated?

Since Policypal will be a network that has its own Blockchain and is part of the Ethereum, PYPL codes will be used for the network.
In the first two years of the Policypal network, the fees collected will go to supply their network on smooth blockage, and from the third year, the collected tokens will be burned, which will limit the display of the tokens.
The Policypal chain will use its policy as a consensus mechanism to validate its share, and its network holders will have to complete outsourcing tasks to ensure their active participation in the network.
Here are a few ways to earn PYPL codes on a Policypal network platform:
  • Get a 2% bonus when you purchase policy policies on the Policypal platform.
  • Participate in surveys related to the development of new network features.
  • Participate in the new survey forms for insurance products and obtain additional codes when launching this product.
  • Participate in the marketing referral program to form the society of the insurance complex.

Opportunities:

After establishing the Policypal network, by a team with significant links in Asian insurance, has demonstrated its ability to innovate, and with a holder's record of relevant topics under their hands, it is easy to grow Policypal network, and is a great success.
Security is a major concern for individuals and institutions in the world of electronic currencies. Currency protection is the goal of this network, and should be fast-paced because it is the intended users who already know and deal with encryption.
The penetration rate of insurance is still very low for South-East Asia compared with other regions, and with the offers made by the network, banks will have time to sign insurance products and large potential.

Interests:

As with any project that wants to develop itself, get their own blockchain, and with an uncertain development schedule, Policypal is scheduled to be released on the Ethereum network in the third quarter of 2018 but can be delayed.
Although Policypal is an ongoing company already operating, but its own communication network does not yet have an Alpha prototype.

For more details:

Website: https://www.policypal.network/
White paper: https://www.policypal.network/whitepaper/PolicyPal_WhitePaper.pdf
Blog: https://medium.com/@policypalnet
Telegram: https://t.me/PolicyPalNetwork

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