FidentiaX
As the name already defines its meaning that is to find something.So FidentiaX is a social platform which finds people whi wants to sell their insurance policies and the people who wants insurance policies.
So FedX is a social media exchange where buyers meets the sellers.
It is the company which is helping the people around owning a Insurance policy.These will provide you with the best and the first marketplace for trading of your policy.
fidentiaX is the world’s first marketplace for tradable
insurance policies. The vision of the team is to create a trading marketplace and repository of insurance policies for the masses by leveraging blockchain technology.
This blockchain-powered marketplace will provide
a trustless, immutable, auditable and transparent
environment to disrupt the status quo.
fidentiaX Open Source Foundation (FOSF) will be setup
with the mission of proliferating the adaptation of
blockchain technology in the Insurance Industry.
As in the modern day scenario the living standard and the busy schedule of the people has become so much hactic that they did not get any time to take care of themselves.
They are totally detached from the physical exercises.Which inturn makes the people ill.And many more diseases like diabetes,cancer,heart problems,obestiy and many more.So to help their family after their death they chooses Health policies and insurances.So that their family can get some financial help after them.
So in contrast the life insurance companies have gathered so much crowd with them.So at least 90 out of 100 makes them insured.So the business and the over all turnover of the insurance companies has raised very high.
According to stats the market in the year 2016 was just $3.86 trillion and now it has raised to $52 trillion dollars.It means people are getting aware about theri healths and the companies are making this point as their main target to sell policies.
fidentiaX’s platform is based on a customized version of NXT blockchain which is as follows-
The platform of FedX will use 3 different types of token-
(eBTC, eETH, eUSD, eEUR, eSGD, eJPY, eKRW, eMYR, etc)
Example -ISX
On a regulatory level, sellers may only cash out the policy using the currency in which the policy was issued.
For example-a Singapore Dollars Policy will only be able to cash out in Singapore Dollars.
To allow seamless transition between currencies, fidentiaX’s cash management system will include various fiat currency accounts linked to internal Currency Representation Tokens which can be exchanged against the Platform Unified Token (ISX) that is pegged 1:1 to the US dollar.
-This will allow the buyers to top up their fidentiaX account by purchasing ISX with their preferred fiat currency,and sellers can cash out ISX at its USD value against the fiat currency in which the policy was issued.
The fidentiaX’s platform relies on asymmetric cryptography to manage its user accounts.
This process includes the generation of a private key used to log in and digitally sign data and transactions.
A private key is not just a password, it is a unique representation of a user’s identity and should never be
shared.
Consequently, its safe storage is extremely important, and recovery procedures are more complex.
Nonetheless, as a great majority of internet/app users are used to password recovery systems, fidentiaX will implement a hybrid method to ensure the user safety and the ability to recover credentials.
1-confirm the legitimacy of the request.
2-create a new account on behalf of the user
3-transfer metadata, balance, and policy ownership to a new account.
4-send the user a new hardware signing device containing the new account’s private key.
5-After registration, a hardware signing device can be used to log in and sign transactions.
6-Administrators will hold special rights, allowing them to transfer user metadata and policy ownership from one account to another after a multi-step confirmation procedure initiated by the private key owner. This transfer will require the digital signatures of several administrators.
So we can say that FedX is the most simple and secured social platform.Because of its easy user interface it has made so much popularity.
So every insurance policy holder should use FedX.
Because it is the
So everyone should
I hope the post was informational.For more enquiries and queries you can follow the links.
