GLOBAL RISK EXHENGE - the underlying operating system to support insurance and derivative transactions in the blockchain era.
Successful greeting to all my crypto friends wherever you are. May you be all healthy Amiin. On this occasion I will provide information to you about one of the ongoing projects: GLOBAL RISK EXHENGE
WHAT IS GLOBAL RISK EXHENGE?
The Global Risk Exchange "GRE" is a block-based and decentralized global risk
market contracts and public chains, with the aim of assisting individuals, corporations
and organizations to protect, transfer and trade their risk freely. GRE completely
reconstructing traditional risk management industries (insurance and derivative markets) in Indonesia
a decentralized way, and will be a fundamental operating system to support
insurance and derivative transactions in the blockchain era.
First of all , GRE democratizes the creation of risk management tools using blockchain
by contract and smart orchest, enables individuals and institutions at risk
management needs to create, trade, and transfer the risk to others willing to take action
the risks on blockchain. This is a platform where risk management policies and
transactions are driven by real demands, where risks are individualized and fragmented
protection is possible, and insurance protection is agile.
Second , GRE utilizes blockchain-based decentralization exchanges to assist participants
in risk management contracts: insured (paying premiums and selling risks),
insurers (who receive premiums and take risks of others) and contracts
designers (who measure individual risk and design contracts), transact and make a profit
from their own information and understanding of the risks. The market price of the risk
the contract represents the market consensus and the wisdom of the crowd, which it is
the best measurements of the current risks.
Third , GRE allows a much larger base of insurance providers than
traditional insurance companies and reinsurance companies, which are centralized, closely
regulated and capital-intensive. The new capacity provider can bring more liquidity
and information to the GRE platform and benefit from GRE by taking different types
risks they understand, while making the whole market of risk exchange more efficient and
liquid by lowering the barrier of entry for both the insured and the insurance, maximizing liquidity and information flow.
GRE aims to build blockchain infrastructure and trading platforms for risk
industry management in the world of blockchain, by providing public chian, a
the fundamental protocol for the creation of risk events, pricing, trade, information
collections and decisions. This will allow individuals and institutions around the world to
reach the risk and restore equilibrium
Global Market Risk Management Measures
Uncertainty, or risk is one thing human society can not avoid
human history and history are shaped by the way we recognize and manage risk and
creating tools to better manage and protect risk. For individuals, the most recognizable tool
to manage risks are insurance products, while institutional investors and
companies will capitalize on derivatives markets to protect their risks. Insurance and
the derivative market is an important component in the global financial model.
Premium global gorss written in 2016 amounted to 4 trillion USD and recorded
5.7% of global GDP and the same figure will be close to 4.8 trillion USD in 2017. Meanwhile
the size of the global derivatives market is 1500 trillion USD, compared with global GDP at 50
trillion USD and the market size of global equities and bond markets at 100 trillion USD. That
the nominal value of global derivatives is 30 times the size of global GDP.
Problems in Traditional Insurance Market
Centralized Product Design and Risk Pricing Leads to Homogenization of Products
Traditional insurance products are designed, actuarial prices and centrally located
way. Homogeneous product design can not meet diversified risk management
the needs of the people; the pricing of risk for insurance products is entirely dependent on
actuarial models and do not have more efficient measuring tools and markets; sales on
Insurance companies rely heavily on channels. Because homogenous
product design, insurance companies often commit a cruel price competition, consequently
in the wasting of social and financial resources:
High Channel Sales Charges and Low Money Efficiency
Low Operating Efficiency
User Privacy Protection
Sales of Misleading Insurance Policy and Fraud
Moral Hazard
Solutions by GRE
Executive Summary
Global Risk Exchange (or "GRE") is globally blocked, decentralized and open-ended
market risk exchange, with the aim of assisting individuals, enterprises and
organizations to access and trade the risks.
The traditional insurance industry has a very long value chain, starting with insurance,
insurance agents, direct insurance, reinsurance and ending with insurance links
securities investor (ILS). But if we remove all roles in the value chain and
the purely purpose of insurance or industrial risk management is to match two groups of people,
one group of people trying to shift the risk from them and willing to pay
a premium for those who can increase that risk for them. The poeple is called
"insurant". Other groups of people are willing to take another risk of switching to them
in return, collect premiums for compensation. These people are called insurance companies and they are
providing capacity for risk. When certain risks occur, the insurance company must compensate
insurant with pre-determined amount of money of its capacity; if a certain risk is not
happens, insurance companies book premiums as their profits.
Blockchain-based GRE platform will change the essence of risk management
transactions to the trading market where risk sellers and risk takers can transact directly
using blockchain technology. It compresses the traditional long chain
the insurance industry while minimizing the threshold, providing maximum and maximum liquidity
accurate pricing of risk.
GRE Platform
The GRE Platform imposes a fee for each risk management transaction and
injecting it into the foundation development fund for further platform development
and maintenance.
GRE Foundation is an independent body with the main responsibilities are:
- Support the technical development of the GRE blockchain platform, select and introduce key partners and actively develop GRE communities
- The GRE Foundation will be responsible for community development, incentive design, legal affairs and compliance
- Responsible for smart contract design, allowing community developers to submit code and bug changes, make a fair evaluation and reasonable mechanism
Token Sales Plan
GRE will issue 40% of all tokens to community members.
Remaining distribution plan of RISK:
- 10% for Foundation managed funds, used for GRE Foundation operations, will release within the next 2 years;
- 30% for community development funds, used for gift partners who contribute GRE Community.
- 20% for the founding team and development team, those tokens will be assigned to the founding team, such as early community contributors and future team members. As a team incentive plan, the token will be released step-by-step in two years, and unlock 25% every six months.
Chinese citizens will not be allowed to participate in the token sales plan of RISK.
Any Amercian citizen, permanent resident, or green cardholder will not be allowed
engage in a token sales plan of RISK, unless a person is a qualified investor thereafter
certified in accordance with the relevant US securities laws.
road map
MORE INFO CLICK LINKS BELOW:
Website: https://www.gref.io/
White paper: https://www.gref.io/gre.whitepaper.en.pdf
Twitter : https://twitter.com/GRE_RISK
Github : https://github.com/gre-foundation
Bitcointalk: https://bitcointalk.org/index.php?topic=3178591.0
Telegram : https://t.me/GREF_EN
Bitcointalk Profile ( Mulyo83 ) : https://bitcointalk.org/index.php?action=profile;u=1813751
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