InsurePal Friends Network: Application of Social Proof Is Endless

InsurePal doesn`t only build social proof services for insurance, but it promotes an innovative way on how to effectively and objectively assess the credibility of an individual, without invading its privacy.

We wish to kick-start the next phase of blockchain usability and make social proof a data-gathering protocol that can tap into different industries and empower individuals in terms of sharing and make use of their data.

In insurance, the social proof protocol will evaluate and reduce the insurance prices to policyholders in such a way that InsurePal algorithms will recalculate policyholders` previous premiums and offer them a generous discount according to the client`s social proof score. We have filed a US and worldwide patent to protect the intellectual property behind social proof methodology as we believe it will be useful not only to insurance but it will be widely applicable to many other industries.

Social proof will provide companies with an objective assessment of an individual and give a comprehensive insight into one`s character. This proof, working as a third-party deductible, will then be recorded and stored into the blockchain ledger, meaning it will be given into the direct ownership of our protocol users. That is why in the future, social proof will be truly versatile and widely applicable, as it will serve as an all-in-one replacement for various expensive, invasive but also ineffective methods of segmentation.

InsurePal social proof network will exponentially expand in order to allow multiple endorsements and mutual recursion, providing the community with a precise insight of who is endorsing who and for how much.

This valuable data will serve us to generate Social Proof Trustscore, a factor that will calculate a real-time average value directly reflecting who is trustworthy to make different transactions and agreements with.

This is the reason we build our company`s culture on an open dialogue with companies working in traditional sectors as well as connecting with many interesting startups that are paving the way for blockchain mass usability through innovation. We wish to be as inclusive as possible and make social proof available to a broad range of services.

During our ICO campaign, we have had the opportunity to meet several outstanding individuals and innovators from all around the world. It is truly inspiring to operate in a community that confirms that the application of social proof carries disruptive potential to better the businesses of today.

For example, at the World Blockchain and Crypto Currency Summit in Moscow we had an interesting discussion with Etheal. A team of doctors and blockchain enthusiasts has challenged the existing healthcare system and is working hard into putting a blockchain healthcare service portal on to the blockchain to offer users transparent and comprehensive overview of existing service. We think of their idea to be really noble and most of all, a necessary step that could greatly lower the prices and better the healthcare services for all of us. And, also a project that could greatly benefit with social proof implementation.

And while our product and development team already deploy into the functionality of first social proof module specified for motor car industry, we think of a future much bigger in which social proof will enable many individuals to access and gain benefits across industries hassle free.

We would love to hear your thoughts! Follow our endeavors and join us in conversation:

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