P2P Insurance Platform in Cryptocurrency

New P2P Insurance Platform

We will aim for a new insurance service with P2P Insurance and Cryptocurrency.



P2P Insurance

Through P2P Insurance and crypto-currency, we strive to provide an insurance service that is both transparent and user-directed. We will provide a variety of services, including smart contract technology to ensure fulfillment of contractual obligations, separation of billing management costs, an approval and compensation system managed between users, a user-based evaluation system and more. In doing so, we will bring this service to fruition.

MUJIN

We aim to provide a service that more easily allows for groups of friends and communities to assist one another, while also providing for a smoother communal money management system. From ancient times in Japan, there exists an organization of mutual help known as ‘Mujin.' Through utilizing crypto-currency functionality and the “Community” feature, we will provide a similar, smaller-scale mutual-help system to our users.

Crypto-Currencies will open new horizons in the world of insurance.

We see mutual-help systems functioning on a variety of scales and levels, whether it be through insurance, mutual aid organizations, or through like-minded individuals pooling and purchasing items together. In utilizing cryptocurrency and Blockchain technology, we believe can make the process of mutual aid much more efficient and simple. By utilizing these technologies, we believe that the insurance world will expand as a whole.

Whereas insurance and mutual aid organizations insert third parties into the equation in the money management process, our system takes out the middleman and uses Blockchain technology instead. In doing so, one can enforce contractual obligations regarding pooled money and payment. With crypto-currency technology, one can manage money speedily and smoothly — without getting banks involved.

Plus, by separating the billing costs from the pooled funds, billing screenings can be performed amongst users through a user-based evaluation system, where screening officers are rewarded payout.

In providing this user-directed insurance platform, we believe we can both aim for price improvement as well as supply optimal response to insurance-related needs.

Download BITPARK Whitepaper

Cryptocurrency

BITPARK Coins (BPC) are utilized when giving compensation during the insurance screening process, and users can pool together their money with BitCoin or with unique tokens — known for their stable exchange rate.

Types of insurance

We have specially adapted to small payoff and short-term insurance, providing a platform suited for casual use. We aim to have insurance companies become part of the process as well.

Collective management

All participants can view the balance and transaction history at any time. For security, funds can only be sent to fellow participants, and multiple participants need to sign in order for payment to be sent.

Community

Whether it be in groups, with MUJIN, or with insurance, there is always a community for each. Wallet and communication functions are all integrated.

P2P Lendings

By rating groups and individuals, one can receive discounts in insurance fees and qualify for small amount loans.

Asset management

For tokens gathered by MUJIN or insurance, we will provide functions to store and asset-manage in local currencies.

We will move forward in steps in accordance with funds raised.

Road map

Group Wallet

Development of bitcoin wallet and group wallet.

MUJIN

Coin and community coordination function with which one can create groups with same hobbies etc will be developed.

P2P Insurance

Development of a platform with insurance function.

Our Messages

  • “Further progress in human's inventions such as 'Contract' and 'Exchange of value and risk ' by using technology.”

    — Kei Koshida co-founder

  • “The world of Cryptocurrency will evolve with people’s needs, and will evolve to some-thing society can’t afford to do without.”

    — Hidenari Aizawa co-founder

  • “Insurance and finance redefined, in a “smart” way. In our highly complex daily life, something simple will be appreciated.”

    — Takaho Hatanaka co-founder


co-founder
Kei Koshida
He has an engineering background and experience in both global trading and finance businesses, and is familiar with international trade and finance regulations. For 7+ years, he worked for one of the biggest Japanese trading house and global investment bank. Currently, he is in charge of the overall business development and operations in BITPARK.

co-founder
Hidenari Aizawa
After being CTO for a company, he went independent. He managed a development company for over 10 years. In system development, he often acts as a producer who oversees planning of the service, development and operation. Since January 2016, he has started to draw up the vision of BITPARK service. And he is now in charge of design of service and development.

co-founder
Takaho Hatanaka
He has been working as a chief engineer and system consultant. The experience he has is diverse, ranging from embedded systems to game apps. His favorite languages are C++ and PHP, and he excels in large-scale web system development and infrastructure construction. He has been developing BITPARK service since Feb 2016.