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.
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.
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.
