Скачать или смотреть INSUREPAL PROVIDING INSURANCE FOR BLOCKCHAIN BUSINESS TRANSACTIONS, ANNOUNCES COLLABORATION WITH MAT

InsurePal helps boost blockchain business transactions through self-regulating social proof insurance, and this ecosystem is strengthened by the platform’s collaboration with Mattereum, a legal platform for property management and arbitration.
. One of the benefits of insurance is peace of mind as possible contingencies are accounted for, but many individuals are not happy with the price they pay for this security. To fix this issue, InsurePal is revolutionizing the many different facets of the insurance industry by using social proof to dramatically lower costs by removing irresponsible people from the insurance pool.. As part of the effort by the first decentralized, blockchain-based social proof insurance platform to reward people who make responsible decisions, InsurePal announces that they are collaborating with Mattereum, the legal platform for making possible the legal transfer of property through the use of a smart contract.. BOOSTING BUSINESS BY CREATING TRANSPARENCY AND TRUST

InsurePal brings responsible decision-making and social proof into the 21st century. It works by people taking responsibility by personally vouching for other individuals. If Bob vouches for Dave in regards to auto insurance, Dave gets a lower premium quote for his insurance and Bob receives a number of IPL tokens as a reward.. The social proof comes into play that Bob is then on the hook for paying the deductible, and the refunding of the IPL tokens, if Dave is involved in an at-fault accident. If Dave makes good decisions and is not involved in an at-fault accident, then both parties keep their benefits at the year’s end.. One of the most striking features of InsurePal is how it boosts blockchain business transactions. The rise of cryptocurrency has helped fuel the boom in online business blockchain transactions, of which there are 350,000 every day. Yet an element of doubt always remains as both parties can wonder if they can fully trust the other.. InsurePal brings in its patented social proof mechanism to create trust through transparency and shared responsibility. An insurance smart contract is created before the business transaction takes place. If one party does not fulfill their end of the deal, they, along with all of those individuals who have vouched for them, will be penalized to cover any losses. The level of engagement that an endorser has with a person will determine the penalty amount.. 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. Further transparency is evident by the Social Proof Trustscore that each participating endorser has, whether they are directly or indirectly endorsing the contract’s principals. This score is compiled from data collected from every transaction an individual is a part of. Thus, one can see how well one lives up to their agreements as well as those people whom they have endorsed..