Bitpark Coin Whitepaper

Abstract

Crypto-Currencies: Paving The Way to A New Insurance Market

Crypto-Currencies will open new horizons in the world of insurance.
We see mutual-help systems functioning on a variety of scales and
levels, whether it be through insurance, mutual aid organizations, or
through like-minded individuals pooling and purchasing items
together. In utilizing cryptocurrency and Blockchain technology, we
believe can make the process of mutual aid much more efficient
and simple. By utilizing these technologies, we believe that the
insurance world will expand as a whole.

Whereas insurance and mutual aid organizations insert third parties
into the equation in the money management process, our system
takes out the middleman and uses Blockchain technology instead.
In doing so, one can enforce contractual obligations regarding
pooled money and payment. With crypto-currency technology, one
can manage money speedily and smoothly — without getting banks
involved.

Plus, by separating the billing costs from the pooled funds, billing
screenings can be performed amongst users through a user-based
evaluation system, where screening officers are rewarded payout.
In providing this user-directed insurance platform, we believe we
can both aim for price improvement as well as supply optimal
response to insurance-related needs.

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Bitpark Coin Whitepaper

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