What is InsurePal?
IsurePal is a next generation of peer-to-peer insurance based on social proof endorsements. The platform will serve as a replacement for insurances as we know today and offer a completely new type of coverage for areas of business that began to emerge with the evolution of blockchain, starting with the insurance of blockchain business transactions.
“We’ve successfully reinvented the social proof methodology for insurance industry. The approach has been filed for patent protection in the US and worldwide.” (IsurePal Team).
InsurePal (IPL) coin
InsurePal (IPL) coin will be the fuel of the InsurePal platform, used by clients and third-party partners worldwide. It is an application specific token, built on top of existing Ethereum blockchain, allowing us to give the users back the value of the IPL insurance network. The crypto is expanding from digital trading to something that will soon become a vibrant parallel economy. IPL is making important strategic partnerships already today to build the three basic pillars of future business represented by blockchain ID, arbitrage and insurance.rations on the blockchain.
As we learn from the project website, InsurePal will embed social proof in a form of financial commitment. The InsurePal coin will allow the social proof process between different entities to take place using the distributed ledger. The majority of IPL tokens will be available in a public crowdsale starting on 16 January 2018 with a minimum investment goal of $5.000.000 and maximum investment cap of $18.000.000.
What is interesting that tokenizing property will allow InsurePal to uniquely identify insurance assets and transform the information to other types of businesses via a digital record. Clients holding IPL will be able to identify themselves within the community and exchange their social proof guarantee.
As we read in Whitepapers, the growing value of InsurePal social proof insurance will reflect in the increasing market value of InsurePal tokens. The adaptation of InsurePal policies will trigger a wider circulation and utilisation of the IPL crypto, with the aim to become the prevailing currency of global social proof insurance economy. “It is our belief that other segments of the fiat economy, closely linked to the insurance industry, will consequently start accepting IPL tokens as a currency, serving as an additional boost of an IPL utility token economy.” – team member said.
Price and prediction
InsurePal uses the ethereum blockchain as a platform for transactions. It claims to offer lower premiums for all customers that are able to gain social proof endorsements, a system where friends can vouch for each other’s driving with a financial commitment, such as credit card details, as a guarantee. The crypto is expanding from digital trading to something that will soon become a vibrant parallel economy. So InsurePal is making important strategic partnerships already today to build the three basic pillars of future business represented by blockchain ID, arbitrage and insurance. You can assume that predictions are promising. They will help grow confidence among all the stakeholders and massively speed up the business operations on the blockchain.
All IPL tokens will be available for purchase with ETH. Base token price will be set to $0,10. The exchange rate will be locked based on January 16 market exchange rate and will be valid for the entire time of the token crowdsale. Prior the token crowdsale whitelisting is available by invitation. A maximum 70% of all the IPL tokens can be sold during this period.