Why FidentiaX? Link - https://token.fidentiax.com/ FidentiaX the world’s initial marketplace for tradable insurance policies, are a membership-based schemethat specialize in the key stakeholders: Policyholders –Providing a liquidity various to existing policyholders through a clear, truthful and economical platform thatpermits tokenization of their existing policies. Buyers –Developing a trustless marketplace for consumers exploring tradable policies as a part of their investment portfolio by investing on blockchain technology and its advantagesto supply a secured transactional scheme. Our platform optionsare designed and developed with these member stakeholders’ desires as a guideline. fidentiaX members’ platform cangivethe subsequentoptionscounting on the membership class
Detailed review: FidentiaX, found on-line at FidentiaX.com, aims to be the world’s initial marketplace for tradable insurance policies.
Today, a growing rangeof individualsarselecting to sell their insurance policies. you'll sell your contract to a 3rd party rather than surrendering it to your insurance underwriter at a coffeeprice. this is oftennotably common within thelife assurance world. somebody mayget older and understand they don’t would like a life assurance policy. Their youngsterscan be well setup financially, as an example. during this case, somebody offers to shop for their contract for over what the insurance underwriter was about topurchase surrendering the policy, howeverbut what the ultimate settlement are. There are some issues with this supposedlife assurance settlement trade. FidentiaX needsto resolve those issues. What issueswill FidentiaX look for to Solve?
FidentiaX is aware of there’s a requirement for associate insurance marketplace wherever customers should purchase and sell policies. However, there ar some issues with today’s industry: No Recognized Marketplace:
Currently, sellers struggle to seek out interested consumers. consumersdon't have access to accessible policies and ar restricted by their region of residence. No Assurance:
Buyers got to place trust in a very secondary market supplier. the presentobserveneedsthe customer to pay earlier and trust that the policy are transferred. Troublesome:
Both consumers and sellers got to be physically gift at the insurer’s workplaceso as to transfer policies. Policyholders Lose Money:
Policyholders face a challenge. they'll either surrender their policy at existing moneyprice, as determined by the insurance underwriter, in exchange for losing their protection. Or, they'll secure a totally collateralized loan from their insurance underwriter at associaterate of interest of five to seven-memberedannually, secured by their existing policy. How will FidentiaX Work?
How will FidentiaX commit to solve the issues listed above? the corporate envisions a blockchain-based platform that facilitates a four-step dealings between contractconsumers and sellers. The FidentiaX platform is constructed on a custom-made version of the NXT blockchain. Here ar the four steps concernedin a verydealings on the blockchain: Step 1) Listing:
Policyholders will list their tradeable insurance policies on the platform. Policyholders World Health Organizationwishto createcash from their policy can submit the policy to FidentiaX’s blockchain-powered platform, then gain access to preparedconsumers on the platform. consumerswill then browse the accessible policies and select any policies that meet their investment objects. Step 2) Offering:
Interested consumers complete the relevant documentation and deposit funds to the platform. Sellers are notified that funds are secured, and so the relevant documentation is transmitted. Step 3) Submission:
The seller, armed with the reassurance that funds arin situ, goes to the insurance underwriterto complete the transfer of policy to the new owner. the vendor receives documented proof that the policy has been transferred. Step 4) Complete:
Sellers transfer the documented proof of the transfer onto the FidentiaX blockchain. That proof can then be verified. Upon verification, documentation is transferred to the customerwhereas funds arat the same timefree to the vendor. FidentiaX options
FidentiaX plans to supplythe subsequentoptions and modules accessible on the platform: Policy Ledger:
The FidentiaX policy ledger breaks from the normal reliance on intermediaries by making a digital ledger for policyholders. That ledger consolidates and manages your insurance policies on a distributed ledger, creates associateimmutable record of your policies on the blockchain, and completes alternative blockchain-based transactions. Listing of Policies for Tokenization:
FidentiaX can have a information of tokenized policies across the trade, together with endowment, whole life, universal, key-man, investment-linked, annuity, and more. Members Auction:
The FidentiaX members auction permits users to bid themselves a policy. Investors will use this feature to effectively add a policy to their portfolio as associate investment strategy. Marketplace for Tradeable Policy Purchases:
The FidentiaX marketplace permits users to browse accessible tradeable policies for purchase, or filter policies supported criteria like tenure, yield at maturity, amount, and more. Custodian Services:
FidentiaX permitsconsumersto seek outkeeper services – say, if they needsomebodyto require care of a policy till it’s reaches maturity. Portfolio Builder:
The FidentiaX portfolio builder may be acustomised service for consumersinquisitive about customizing and building a portfolio of trade able insurance policies. FidentiaX cangiveskilled services for that portfolio, together with sourcing, validation, and therefore the transfer of the required policies. Who’s Behind FidentiaX?
FidentiaX is crystal rectifier by co-founders Alvin ANG and Stephen Arnold Douglas Goh. ANGmay be a multi-disciplined bourgeois with in depthexpertise in technology, engineering, banking, and insurance. Goh may be a blockchain enthusiast with 15+ years of expertise in banking, M&A, and fintech. FidentiaX is predicated in Singapore. The idea for FidentiaX began in might 2016. The idea and development of the platform took type throughout 2016 and 2017. The company’s crowdsale is regular for November 2017, with the launch of the FidentiaX Membership Marketplace occurring in Feb 2018. The initial goal of the corporate is to create its wholeat intervals Asia before corporal punishmenta worldwideenlargement strategy. Key initial targets embodymetropolis, Japan, Korea, Malaysia, and Singapore. The FidentiaX Token Sale
The FidentiaX platform can use 3differing kinds of tokens, together with tokens accessiblewithin the crowdsale (fdX), currency illustration tokens (eBTC, eTH, eUSD, etc.), and platform unified tokens (ISX). The fdX tokens araccessible through the crowdsale. There’s a complete of one hundred million fdX tokens accessible through the sale. one ETH = five hundred fdX throughout the sale, though bonuses araccessible on days one through five. The token sale was proclaimed on Octsixteen. Here aralternativenecessary dates you would liketo understand about: October 20: beginof personal contribution spherical (pre-sale) November 5: finishof personal contribution spherical November 6: begin of public contribution spherical (crowdsale) December 5: finish of public contribution spherical FidentiaX Conclusion
FidentiaX is building associate insurance marketplace engineered on blockchain technology. That marketplace aims to supply a safer and convenient expertise to insurance policyholders World Health Organizationwould like to sell their policies for money, or for anyone World Health Organizationneedsto feature insurance policies to their portfolio. Today, there isn’t extremely a marketplace for contractconsumers or sellers – that is why FidentiaX sees a chance.