Considering the importance of blockchain technology in the past 12 months, it is not surprising that crypto. In hospitality, entertainment, technology and dozens of other industries, "things like smart contracts and decentralized leaders never existed before,"
Of all industries, finance is the most ready willing for Blockchain adoption.
Considering the internet changed possibilities, making AirBnB and Uber feasible . They opened up the hospitality and transport industries which are now worth $ 100 bln combined, and several multiples of that value for each year
What area of finance will see short-term upheaval from Blockchain implementations? One possibility is interesting precisely because you've never heard of it before: life insurance. What are the people who are not aware of the fact that they have a life insurance policy?
As it stands, this limited market is inefficient and underserved, and a Singapore-based crypto team is hoping to change that with the fidentiaX platform they are launching shortly.
Life insurance reselling
A Blockchain platform could address the considerable inefficiencies and constraints in the market. Most important of these is the underserved market for reselling. There are simply not enough life insurance holders who are aware of the reselling industry, which results in a lack of policies for investors to purchase. FidentiaX plans to do two things to help this;
This central platform will also be of benefit from the effects of life insurance and is currently fractured regionally because of differences in regulation. A worldwide platform would allow investors to apply economies of scale in order to make their activities more globally efficient. Most notably, in many cases the buyer and the seller
As it currently stands, the policyholders often end up needing to jump through the market and secure a price.
This paper presents a problem with the subject of the problem. ]
"The Financial Industry Regulatory Authority warns that the life-settlement industry can be used for aggressive sales tactics and abuse."
Typical use case
Into this market comes fidentiaX, who will believe their platform will help in several ways. They (19459003)
- LISTING – Policyholders looking to extract higher value from their policies and policies.
- OFFERING – Interested buyers complete the documentation and deposit funds to the platform. (19459009)
- SUBMISSION – The seller, armed with the insurance that funds are in-place, goes to the insurance company. new owner.
- COMPLETE – Sellers The documentary evidence of the transfer to fidentiaX Blockchain.
As You Can See, The Fulfillment of Blockchain Technology.
Marketplaces are a difficulty The team is banking on a few things in their favor. First, the founders have track records in the insurance industry, having worked for some of the biggest financial institutions in Asia. Secondly, they are going to get the market started by buying a substantial amount of policies that can not be discounted.
The market unimaginable amounts of money, and if you can expand this market to underserved investors and sellers then they stand to become a major platform in their own right. The Crowd Token Contribution goes live on November 6th.