One of the most striking features of InsurePal is how it boosts blockchain business transactions.
This added layer of arbitration and property management dovetails perfectly with InsurePal’s blockchain business transaction insurance. InsurePal, a distributed social proof insurance ecosystem powered by blockchain technology is now just a few weeks out from commencing its initial coin offering of IPL tokens. You can learn more about InsurePal’s proof of concept to see how the decentralized platform will boost confidence in blockchain business transactions by visiting their official crowdsale website. Mattereum and InsurePal share a vision of a future blockchain economy with three pillars: 1.
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As such, Mattereum adds a vital component to the ecosystem of InsurePal, which is now composed of insurance, blockchain ID, and arbitration.
Having blockchain business insurance will serve as a catalyst for a major growth of such transactions due to the self-regulating security and trust that defines the social proof mechanism. InsurePal brings responsible decision-making and social proof into the 21st century. InsurePal is providing the trust and transparency that people are looking for through the self-regulating social proof mechanism. The partnership will combine InsurePal’s social proof model of shared-risk insurance with Mattereum’s dispute resolution infrastructure, underpinning and accelerating the expansion of the user-managed crypto economy.
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An insurance smart contract is created before the business transaction takes place.
London, 16 February 2018: Mattereum and InsurePal have announced the Identity Insurance Consortium (IIC) to drive insurance-based identity solutions to underpin the security of commerce on the blockchain. The future of the blockchain is identity without authority, and digital trading will continue to expand along with the use of cryptocurrency. In addition to the already known segments of insurance, such as motor, life, health, and property, the company wants to improve other areas, including blockchain business transactions. It does so by helping harness the power of blockchain software in the execution of legal contracts while providing a simple legal interpretation and implementation to digital trade.
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This collaboration is one of the strategic steps InsurePal is initiating towards future-proofing the blockchain in the face of increasing calls for regulation.
InsurePal is the first blockchain-based platform addressing the main issues of the insurance industry. InsurePal will offer insurance of blockchain business transactions while Mattereum will act as a decentralized court of arbitration for disputed smart contracts. Mattereum will create and manage the legal and technical systems required to implement the control and transfer of rights in material and intellectual property, as well as digital assets. Blockchain business transactions will benefit from the insurance offered by InsurePal, causing the field to grow exponentially.
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To provide the best possible ecosystem for decentralized, blockchain-based insurance management, InsurePal has announced its upcoming collaboration with Mattereum.
Meanwhile, social proof can reduce the insurance premiums to a level where insurance can be included in any smart contract transaction, offering a major public benefit. Together, insurance and dispute resolution support claims about identity that can be relied upon because those claims can be insured and compensation in case of misidentification can be legally enforced. Recentemente, a InsurePal anunciou sua parceria com a startup de contratos inteligentes Mattereum. InsurePal will provide insurance of all transactions through its network, while Mattereum will serve as a decentralized court of arbitration for disputed smart contracts.
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InsurePal doesn’t support uncapped token crowdsales as the team is able to provide an estimate on how big an investment they need to achieve the stated business goals.
InsurePal is making important strategic partnerships, such as with Mattereum, to provide the three basic pillars of future blockchain business: blockchain ID, arbitration, and insurance. Mattereum provides natural language contracts, along with corresponding smart contracts, to facilitate common legal tasks. Their obvious application there is to replace the multiple systems involved in any given type of financial transaction with a single shared blockchain. Whitelisting-TBA Token sale : TBA Accepts: TBA Vinay Gupta is responsible for Mattereum’s corporate strategy, vision, external communications, investor relations and reputation. Dr. Mihai Cimpoesu, who holds his doctorate in Computer Science, is Mattereum’s Chief Engineer and was a technical lead in the Blockchain team for Thomson Reuters.