Welcome to ShineChain Community

Shine Chain
Published in
3 min readJan 22, 2018


A Global Mutual Insurance Community Based on Blockchain Technology

SHE Features

  • Public Beneficial
  • A Public-beneficial Mutual Insurance
  • Trust
  • A mutual insurance solving trust problem based on blockchain technology
  • Global
  • A mutual insurance for global users

Industry Current Status & Pain Points

  1. High Risks: The ubiquitous risks of personal accident are usually ignored by a fair number of people. For example , the global total number of airline passengers in the world has reached 4 billion in 2016. However, the global total amount of aviation insurance premium in 2016 was only 1.2 billion dollars and the average insurance premium per person is only 0.3 USD, which means less than 10% passengers can benefit from the insurance.
  2. High Incidence: The incidence of critical illnesses, such as cancer, is surging due to environmental pollution, food safety problem, climate change and unhealthy lifestyle.
  3. High Premium: Commercial insurance is both expensive and has operating risk, due to the high sales commission and the poor operation and fund management ability of some insurance companies.
  4. Non-transparent: Traditional centralized mutual insurance communities lack transparency in operations and fail to establish trust with users in community as they cannot prove themselves fair and open. It is difficult for them to establish a real trust relationship with users.
  5. Insurance Fraud: Insurance fraud has been a common problem faced by all centralized insurance institutions (ie.insurance companies & centralized mutual societies).
  6. Risks of Privacy Protection: The hazard to user privacy protection is the common pain point of the centralized institution.
  7. Inflation: Inflation causes the decline of purchasing power of the indemnity.


  1. Advanced Technology: Blockchain is a decentralized distributed ledger, featuring with consensus mechanism, openness and transparency, tamper-proof and high security, which makes it a credit-creating machine. Blockchain can be used to issue digital Tokens and carry out smart contracts.
  2. Public Beneficial: Low threshold of entering mutual insurance makes it easier to benefit the public. For example, the airline, train and maritime accident mutual insurance of 150,000 USDT indemnity requires only 5 USDT SHE (Shine Coin) when users join in the community. If no accident occurs to any member, the SHE Tokens will remain in the user’s insurance account and the insurance liability remains valid until the balance of user’s SHE account is insufficient. In this case, the user can either choose to top up the account to maintain the insurance or quit the mutual community.
  3. Openness & Transparency: All users in the community can check the digital asset in the community insurance account on the blockchain. The openness and transparency can create real trust with the community users.
  4. Reward and Punishment Mechanism: The selection of assessment agencies by community users and the payment details are publicized. The reward mechanism for reporting dishonesty is implemented in the community. All of these mechanisms can effectively maintain trust and solve fraud issues in the mutual community.
  5. Deflation Mechanism: As the community issues a constant number of Tokens, with an increasing number of users joining in the mutual insurance system, more Tokens will enter the lock-in pool, so SHE left in the secondary market will be gradually reduced. Furthermore, as the users are paid by the Tokens they purchased when they join the community, the users who joined earlier could receive more Tokens. The issue of fiat depreciation in traditional insurance industry can be effectively solved by this deflation mechanism of SHE token.

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