CoinFox talked to the founder of the project PROVER on the use of blockchain in the field of auto insurance and beyond.
One of the key features of blockchain technology — the verification of the authenticity of the transaction.
CoinFox: What gave you the idea of the service PROVER (Prover.io)? Why is it relevant?
Ilya Svirin: Initially we planned to create a platform of auto insurance on the basis of the blockchain technology. We saw it as a service flexible management of the insurance where the client independently with accuracy to the second determines when to activate it, and when to turn it off (for example, if the car is parked in the garage). Such a system would reduce the cost of auto insurance and bring new customers to the market.
The question was how to ensure trusted communications between client and insurers, in general cases, the two sides is not even against trying to “cheat” each other.
The idea to commit the transactions on and off insurance in the blockchain was on the surface at least because it will not allow the insurance company to say: “we have a base of no information that your insurance is included”. It was much more difficult to figure out how to confirm the authenticity of videos that a customer takes on your smartphone when you turn on the insurance. Because there is a risk that the video may be captured long before, and after the occurrence of the insured event is passed through the emulator camera and issued for proof that the vehicle is still not damaged. Here appeared the idea of creating technology to confirm that the video was not filmed in advance.
Later came the understanding that technology has an independent confirmation of the value, as a lot of applications solutions can be created based on it. Their appearance over time should ensure sustainable growth in the market value of the manufactured tokens PROOF.
CoinFox: At the moment, these video recorders are already being used by law enforcement agencies to establish insurance claims; what is the fundamental difference between your services?
Ilya Svirin: Data from the registrars, of course, can be considered as proof, however, it is not possible to guarantee that the video was made in the time stated, and the recorders do not work when the car is just standing in the Parking Lot. PROVER technology ensures that video footage captured at a precisely known period of time — not earlier and not later, and even protects against fraud associated with the issuance of pre-captured video via emulator video camera.
CoinFox: Your service is designed for protection and confirmation “messages of a legal nature without face-to-face visits to officials”. Is our legal system open to such innovations?
Ilya Svirin: Our legal system is not yet ready, even to the blockchain, what can we say about application-specific solutions, built on its basis? We live in the era of the destruction of the patterns and rapid changes in the world! It is normal when technology goes slightly ahead, capturing the minds of the people, becoming de facto standards, and then legalized in the legal field. But even the imperfection of the legal system will not be able to stop commercial organisations such as insurance companies or banks that include confirmed our technology video content in your business processes, if you see this, and the economic effect additional reasonable risks.
CoinFox: what is and how does your technology work?
Ilya Svirin: The technology is based on several modules of video analytics. The first module is intended to confirm the integrity of the video, i.e. absence of signs of banknotes and editing is a necessary condition for the credibility of the contained video content. The second module provides detection and recognition in video stream, virtual swipe-code — serial moving a smartphone in space along a trajectory determined by a randomly generated code. The code itself is generated on the basis of the blockchain and along with a hash of the generated video files and it is saved. Thus, the authenticity of the video is confirmed if it coincides with the hash stored in the blockchain, the video does not contain traces of adhesions and video editing, and video present input virtual swipe code. Thus we can definitely say that this video could not be created earlier than the time at which the generated code it contained.
CoinFox: Your technology is optimized for smartphones. With what operating systems is it compatible?
Ilya Svirin: The technology is a set of algorithms that will be posted as source code in a public repository on github (https://github.com/isvirin/prover). This will ensure compatibility with all popular mobile operating systems. The team will take on the challenge of implementing applications for the Android and iOS platforms. We will continue to act upon receipt of the external requests. We are sure that around the PROVER, as standing around any open source project, formed a community of developers, which will adapt the technology for other platforms. And we’re not stingy collected funds will support their efforts!
CoinFox: Tell us about the planned krausel. What part of the tokens will be for sale? What does “the right to use the service for free or discounted” for owners of tokens? What currency will pay for the purchase of tokens bitcoin, ether, dollars?
Ilya Svirin: The krausel we plan to conduct in two stages. The pre-ICO project has started on 15 July and will last until the 29th. The cost of produced tokens PROOF is tied to the dollar and the presale will be 125 tokens for $1 that allows early investors to receive a 25% bonus. Pre-ICO will cease, when $300,000 is collected. The holding of the ICO is tentatively scheduled for September, where we plan to collect $5,200,000. At the end of the krautsalat the project team should get 28% of the tokens, of which 1% is reserved for advisors and 8% will be transferred to the investors of the project preparation to the presales.
In the course of the project we plan to create at least two implementations of a technology PROVER, one for the platform Ethereum, another for Emercoin. Implementation for Ethereum will be made on the basis of smart contract that will charge a fee for the authentication of video material tokens PROOF. Accumulated smart contract tokens will be allocated to projects aimed at the development of the PROVER-and its ecosystem, or the promotion and popularization of the technology. Application for funds can leave any holder of a token PROOF, for the allocation of funds vote of the community.
We plan to hold the single currency krusel within the Ethereum ecosystem. The fundraiser will be the smart contract PROOF (0xa2f44d258b1714463099205eeedbee2337b120b5), which laid down the rules described in the white paper of the project (date of krautsalat, the minimum required amount, the rules of spending the investment capital). If the minimum required funds are not collected during krautsalat, they will all be returned to investors. After successful completion of the krautsalat smart contract the PROOF enumerates the development team only the funds necessary for the implementation of the first phase of the project. The transition to the next stage and the allocation under funds from smart contract only by a vote of the investors. All this will ensure a high level of investor confidence in our project.