Medishares (MDS) just launched on CEX.COM !
MediShares(MDS) just launched on CEX.COM at 7:00am GMT today, and it is already available to purchase or withdraw MDS on CEX.COM.
MediShares is the first global mutual insurance marketplace on the blockchain. It combines the traditional mutual insurance model with blockchain and smart contract which provide a low operation cost and guarantee of compensation for risks.
▦ Release date： 2017–11–25
▦ Total number： 2000000000
Contract address: https://Etherscan.Io/Token/0x66186008C1050627F979d464eABb258860563dbE
Detail information of the project:
It is believed that each different smart contract is the future of insurance. The goal of MediShares is to create a Ethereum-based, decentralized, open-source and mutual aid contract market.
Globally, any organization or individual can be qualified for settlement under mutual aid contract by locking MediShares MDS, so as to be eligible for the mutual aid amount specified in the contract.
Globally, any organization or individual can (which is properly licensed and/or otherwise qualified, as accessed any the Platform) can create mutual aid contracts via the smart contract template provided by the Platform, and MDS will be paid to these contract creators.
Creation of Medishares:
There are many problems that traditional insurance cannot solve like high threshold of admission, low operational Efficiency Privacy Issues, High Probability of Rejected Claims,
Capital Security Issues and so on. However, those problems will be ultimately solved in blockchain network.
Advantages of Decentralization:
- Zero Threshold of Admission
No threshold for participation and exit, anyone is optional for participation and exit at any time he/she wishes. What’s more, no one is required to pay any charge in case of no illness, each participant should only pay the charge when conditions for claim settlement are met (such as incidence of serious illness).
2. On-chain ID Verification
Blockchain-based identity authentication offers highly secures privacy protection. Moreover, data is rigorously encrypted and the inquirer’s personal information is subjected to authentication by smart contract for identity recognition. Only the person who owns that private key can authorize view of his/her decrypted identity information by another person.
3. High Capital Efficiency
When the Platform (as defined below) is fully developed, a very high proportion of the funds paid by a user will be used for the purpose of mutual aid. (100-α)% of the funds will be applied towards automatic settlement after occurrence, and a portion of the fee paid by the contract creator to the Platform will be applied towards supporting and rewarding community development.
4. Incentive Mechanism
Any organisation and individual (which is properly licensed and/or otherwise qualified, as assessed by the Platform) may create a shared mutual aid contract based on the smart contract template provided by the Platform, and collect fees in the form of MDS (as defined below) from the users of the Platform. This will substantially diversify application scenarios for future mutual aid use cases, and satisfy those scenarios unavailable by far.
5. No Capital Pool
The funds (in the form of MDS) are locked based upon the terms of smart contract, such that the Issuer, the Platform and the entity which creates the shared mutual aid contract are all prevented from accessing or transferring the funds. No additional capital pool or financial model is needed at all. As there is no contact with the mutual aid funds or any underwriting activity being carried out by the Platform, it is envisaged that the Platform by itself will not be deemed as having the characteristics of an insurance company.
6. High Operational Efficiency
The problems arising from subjective judgment about standard of claim settlement are solved by triggering conditions of objective machine-based data source. Thanks to un-modifiable character of blockchain smart contract, settlement process will be locked for execution of tokens with smart contract, so as to ensure positive performance of settlement so committed.
7. Global Market
Based on borderless circulation character of MDS, the MediShares marketplace platform is open to global users to complete the transaction of settlement and liquidation by blockchain.
The goal of MediShares Community: hold MDS, no worries.
Official Website: http://www.medishares.org/