FidentiaX : Leveraging Blockchain For Buying & Selling Of Insurance Policies | Unique Features & Specifications !!
Insurance, whether general or life, has a great significance in our life. As human being, we are always concerned about uncertainties in our life and we constantly tries to control them to best of our extent. To have a slight control of life’s uncertainties, the concept of Insurance came into existence.
Insurance is basically an assurance by Insurer to Insured that in a specific circumstance, the insurer is bound to pay certain sum of payment to insured or his relatives as part of contract. In exchange, the insured pay a fixed amount to insurer once or in installments over a period of time.
Now, we all are aware about the significance of Insurance. It can’t control any mishap but it can provide an assurance in case any mishap happens in near future. Let’s have a look at the market of Insurance industry:
These days, every person have his own insurance policies whether life insurance of general insurance. But sometimes, over a period of time, these insurance policies might lack in potential benefits because of rising competition among Insurance Companies. Now, what option does a person have?
Can he sell his insurance policy to the others before its maturity?
Is there any platform or website available which can allow a policy holder to transfer it’s policy to some other person?
Well, people are not aware about this fact that Insurance policies are transferable before their maturity and one can trade insurance policies at will. Generally, people believes that once they have taken a policy, then they have to keep it until maturity.
This is not the case in reality. Instead, with a good platform, an individual can transfer his policy over to the others without any hassle and even without any third party.
To make it easier, a platform have come into existence which allows it’s users to trade policies in real-time basis using Blockchain technolgoy.
This platform name is FidentiaX.
FidentiaX Basic Infrastructure
FidentiaX is a blockchain based Marketplace which allows it’s users to buy and sell Insurance polices without the guidance of any intermediary and at very low cost.
Life Insurance Policies is a part of every mature person’s life. But as people grow old, they might not feel any need of their insurance policy anymore and in this case, generally they don’t have many options to begin with for selling of their policies.
But now, with the help of FidentiaX, anyone can buy or sell Insurance polices instantly by leveraging the Blockchain technology.
Basically, FidentiaX solves the following problem:
- The absence of Marketplace for trading of Insurance Policies.
- Diminishing the role of intermediary while trading the Insurance Policies.
- Lengthy Policy Transfer Process along with high cost.
- The lack of transparency in traditional Marketplace.
Unique Features & Specifications Of FidentiaX
Well, FidentiaX is the World’s first marketplace for trading of Insurance Policies. Along with Insurance policies, there are many other specification or functions performed by FidentiaX which are as follows;
Policies Listing As Per Their Domain
Listing of policies is very important when it comes to trading of policies. There are many different types of policies like endowment, annuity, life insurance, general insurance, commercial insurance, et cetera.
The listing of policies as per their domain allows users to find the policy of their choice with ease.
Policy Ledger Set-up
FidentiaX has set-up a ledger for recording and transacting insurance policies over Blockchain. This allows user to see the transparent transactions without any hassle and no exploitation like in the case of Traditional Ledgers.
Trading of Insurance Policies of Any Kind
FidentiaX is the marketplace for the trading of all type of Insurance policies. It doesn’t matter what your policy is, you can trade it anytime by leveraging Blockchain technology and listing your policy over FidentiaX platform.
The account is free to make.
FidentiaX (fdX) Tokens
FidentiaX tokens are the in-built currency of FidentiaX platform. This currency allows users to buy Policies at a significant discount rate and also provides several types of Platform benefit like Membership discount, Platform tools, et cetera.
FidentiaX has three tokens namely fdX, ISX ans Cix.
Each tokens has it’s own significance and function. But among all three, fdX will be available for crowdsale.
Total supply of fdX coins is 100 Million.
FidentiaX Crowd Sale
FidentiaX crowd sale will be open for public on 6th November 2017. Although, a private ICO sale is also happening on 20th October 2017. This sale is only reserved for angel investors, institutions, private firms.
ICO crowd sale will be running for 30 days along with total supply of 100 Million coins.
The tokens rate through the different phases of ICO are as follows:
CTC (Day 1~2)
1 ETH = 575 fdX (15% bonus)
1 ETH = 550 fdX (10% bonus)
1 ETH = 500 fdx
So, this is the whole idea of FidentiaX platform. For detailed information, you can head over to their official website and whitepaper.
Thanks for reading ..!!
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