PolicyPal is a non-regulated platform built with the vision of granting the unbanked access to insurance protection.
Learn more: https://crushcrypto.com/policypal-ico-review/
Project website: https://www.policypal.network/
White paper: https://www.policypal.network/whitepaper/PolicyPal_WhitePaper.pdf
Download the PDF version of the presentation: https://crushcrypto.com/wp-content/uploads/2018/02/CrushCrypto-ICO-Review-PolicyPal-Network-PYPL.pdf
Download the free ICO Guide which contains 6 simple steps for analyzing any ICOs to find the winning projects: https://crushcrypto.com/youtube/
Note: This is not a paid review. We do not offer promotional or advertising services. Our content is based on our own research, analysis and personal opinion.
_______________________________________
What does the company/project do?
PolicyPal Network is a non-regulated platform built with the vision of granting the unbanked access to insurance protection by lowering the barriers associated with traditional insurance coverage.
With the use of blockchain technology, PolicyPal Network hopes to increase universal access to insurance, while providing faster, more varied service that is secure and transparent.
While PolicyPal operates within Singapore, PolicyPal Network will operate outside of Singapore, targeting emerging markets.
With the use of blockchain technology, the advantages of PolicyPal Network include 24/7 availability, real-time transactions, transparency of information, automated validation, audit trail and full transaction history, and improved efficiency.
Furthermore, PolicyPal Network plans on reducing insurance fraud, and automating claims with the use of smart contracts, and reliable third party data.
_______________________________________
What are the tokens used for and how can token holders make money?
As PolicyPal Network will have its own blockchain that is a fork of Ethereum, PYPL tokens will be used as gas price for the blockchain.
In the first 2 years of PolicyPal Network blockchain, the gas fees collected in PYPL tokens will go towards the incentive for PolicyPal Network Blockchain pool. From the third year onwards, the tokens collected will be burnt, which will limit the supply of tokens.
The PolicyPal Network blockchain will utilize Proof-of-Stake as the consensus mechanism. PYPL token holders will need to complete crowdsourcing tasks to ensure their active contribution on the PolicyPal Network.
As PYPL tokens will be used as gas for the PolicyPal blockchain, the more usage the platform (hence the blockchain) has, the more valuable the tokens should become.
_______________________________________
Opportunities
– Having founded PolicyPal, the team has great connections in the Asian insurance industry and has proven their capability and innovation in the space. With a highly relevant track record under their belt, it is much easier to grow PolicyPal Network into a success.
– Security is a huge concern for both individual and institutions in the cryptocurrency space. CryptoProtect is an insurance product targeting this problem and should have quick adoption because its target users are those already familiar with cryptocurrency.
– The penetration rate for insurance is still very low for Southeast Asia compared to other regions. With PolicyPal Network’s offerings, the unbanked will have a much easier time signing up for insurance products and the potential is substantial.
– The team has been very active in promoting the awareness of their project. They have recently completed a speaking tour in Asia.
_______________________________________
Concerns
– As with any project developing their own blockchain, the development timeline is uncertain with delays being common. The release of the PolicyPal blockchain on the Ethereum mainnet is scheduled for in Q3 2018 but it could be delayed.
– Although PolicyPal is a running company, PolicyPal Network itself does not yet have an alpha or prototype.
_______________________________________
Disclaimer
The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don’t invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.
source
Discussion about this post