In everyday life, there are a diverse amount of risks. No matter what we do, how we do anything there are risks involved in everything. The amount of risk is variable in different conditions and circumstances, some degree of risk can be very unbeneficial for a certain process. Most significantly the traditional insurances are centralized and that means they are vulnerable to risks especially for those who have a non-diversified public profile.
The problems in the insurance industry
There is a huge issue in the industry of insurance and that is specifically the insurance products that are personalized. Moreover, there were a lot of wastage of financial material and resources that in the insurance industry. Also, there are series of other problems such as efficiency in cost & low cash of the High sales channel, lower efficiency in operating processes, misuse of the personal and private information of the individuals involved and also the fraudulent policy sales and insurance sales. Significantly the major issues related to the topic are a tremendous amount of challenge in the derivative market, such as,
• Not accounting of the OTC Trading volume
• The opaque measurement of the risks,
• The counterparty risk
• Risks that are in credit
All these challenges and problems were in need of an optimum solution and Global Risk exchange have provided a divine solution to all these problems via a Blockchain technology.
The optimum solution
Global Risk Exchange (GRE) is the company that has offered Blockchain technologically advanced solutions for all the trading risks that the individuals and various institutions have to deal with. The project will provide extensive tools for the management processes of the risks which are derived from the Blockchain technology.
The project can enable individuals to conduct contract based risk hedging and transactions in a smart way. The project will help individuals to sell their risks to the buyers that are willing to purchase.
Three entities of the project
The platform is providing three entities for its customers,
- Insured
- Insurer
- Designer
The insured entity is composed of people who sell the risks and pay the premium on the market.
The second entity is the insurer, an individual who is ready to buy the risks and is willing to accept the premium.
The designers are the entities who measures risks of individuals and designs contracts according to those measured risks.
According to my analysis, this Global Risk Exchange project will bring the maximum amount of benefits like prime efficiency in orders and it will make options to remove information asymmetry, enabling the assessment of the market-based risk, and the pricing. Moreover, it will eliminate third parties and needless intermediaries, which leads to fraudulent practices often.
Global Risk Exchange, RISK Tokens
RISK Tokens are being introduced to utilize them on the platform for a series of purposes, like transactions, transfers and settlements. Up to 10 billion RISK Tokens have been created for the project of what 40% is reserved for the sale. The token sale is live on GRE platform right now. Funds can be used for the marketing of GRE platform. The talented team of the project has years of fine experience in the Blockchain technology.
THE TEAM
ROAD MAP
A Concise conclusion
Trading risks will be decentralized and can be recorded effectively for the very first time in the insurance industry. Not for just insurance market, this project will bring series of benefits for the derivative market. Risks are a part of the financial procedures but through this project, those risks can be minimized by a fraction and I and million other traders and investors see a gigantic value in this entrepreneurial project.
All the important information can be found here:
Official website:https://www.gref.io
Twitter: https://twitter.com/GRE_RISK
Facebook: https://www.facebook.com/GRE-Foundation-2080066572230352/
Telegram: https://t.me/GREF_EN
Whitepaper: https://www.gref.io/gre.whitepaper.en.pdf
Author details
Bitcointalk Username :- Cryptopal2