The Global Risk Exchange (or “GRE”) is a global, blocked, decentralized, global risk exchange market with the aim of helping individuals, companies and organizations to protect, transfer and trade at risk. GRE completely reconstructs traditional risk management tools (insurance and derivative contracts) in a decentralized way, and will be a fundamental operating system to support the insurance industry and derivatives in the blockchain era.
About GRE
First of all, GRE democratizes the creation of risk management tools using blockchain-based smart contracts, enabling individuals and institutions with risk management to create, trade and transfer risk to others willing to take that risk. This is a platform where risk management policies and transactions are driven by real demands, where individual and fragmented risk coverage is possible, and insurance protection is agile.
Second, the GRE makes use of blockchain-based decentralized exchanges to assist participants in risk management contracts, insurers (insiders who pay premiums and sell the risks), insurers (premiums and risk takers) and contract designers (who measure individual risk and design contract), transact and profit from their own information and understanding of risk. The market price of the risk contract represents the market consensus and the wisdom of the crowd, which is the best measurement of the current risk.
Third, GRE enables a much larger base of insurance service providers than traditional insurance companies and reinsurance companies, which are centralized, tightly regulated and capital-intensive. These new capacity providers can bring more liquidity and information to the GRE platform and can take advantage of the GRE by taking on the different types of risks they understand, while making the whole market risk exchange more efficient by bringing in barrier down for both insurants and insurance companies, maximizing liquidity and information flow.
The GRE aims to build infrastructure and trading platforms for the blockchain-controlled worldwide risk management industry in the near future, by providing fundamental protocols for risk event creation, price, trade, information gathering and decisions. This will allow individuals and institutions around the world to reach risk and restore equilibrium.
Introduction
Risk is a part of everyday life. No, no matter what we do or where we live, everything involves risk. The level of risk varies in different situations. Traditional insurance products are centralized and create common solutions for everyone. This creates problems for individuals who have diverse risk profiles. The lack of personalized insurance products is a major challenge for the insurance industry. There is a lot of waste of financial resources in the traditional insurance industry.
There are many other problems in the industry, such as high sales channel costs & low cash efficiency, low operating efficiency, misuse of the user’s personal information and misleading policy sales and insurance fraud. Similarly, there are many challenges in the derivatives market, such as untold trading volume of OTC and measurement of opaque risk, counterparty risk and credit risk. There is a need to adopt blockchain technology to find solutions to the above challenges.
Solutions offered
The Global Risk Exchange (or “GRE”) is a company that offers blockchain solutions for trading risk to individuals and institutions. They provide tools for risk management based on blockchain technology. Hedging risk based on smart contracts and transactions takes place on the platform. The market will be created for individuals and institutions, who can sell their risk to willing buyers.
All three types of entities are present in the platform; insured, insurance and designer. The insured category consists of people who pay premiums and sell risks in the market. The second category is an insurance company willing to buy risks and receive premiums. Designers or contract designers are people who measure individual risk and design contracts.
The risk exchange market will be decentralized and the wisdom of the masses will be the future judge of the platform. Blockchain technology provides a complete democratization of the insurance industry and risk management of contract design is the choice of the crowd.
There are several benefits of the platform, such as Maximizing order efficiency and removing information asymmetry, market-based risk assessment, and pricing, Eliminating third parties and intermediaries. The GRE Foundation is an independent body overseeing the development
ICO INFORMATION
Token RISK
Price 1 RISK = 0.00001 ETH
MVP / Prototype Available
Ethereum Platform
Soft cap 300,000,000 RISK
Hard cap 1,500,000,000 RISK
Country Hong Kong
Whitelist / KYC KYC
Restricted areas USA, China
10 billion RISK Tokens are made for projects where 40% are reserved for token sales. Token sales currently live on the platform. The funds will be used for platform development and marketing. The team working on this project has many years of experience in blockchain technology and web development.
Token RISK
Price 1 RISK = 0.00001 ETH
MVP / Prototype Available
Ethereum Platform
Soft cap 300,000,000 RISK
Hard cap 1,500,000,000 RISK
Country Hong Kong
Whitelist / KYC KYC
Restricted areas USA, China
10 billion RISK Tokens are made for projects where 40% are reserved for token sales. Token sales currently live on the platform. The funds will be used for platform development and marketing. The team working on this project has many years of experience in blockchain technology and web development.
Conclusion
The decisions we make financially are also met with many risks. But, that is part of the equation. Because there is no reward without risk. To manage risk in our lives, we use insurance products. It acts as life savior in many difficult situations in our lives. Individual investors rely on insurance products while institutional investors find derivative markets to be suitable to cover their risks.
The trading risk for people will be decentralized and more easily recorded with blockchain technology applications. This application will be useful for insurance as well as derivate market.
The risk is the innate part of financial life. People who are able to manage risk with the help of existing tools on the platform will be the winners in the future. The future is blockchain technology and decentralization. What do you think of the services offered by the platform? Are we ready to trade our risks?
MORE INFO:
WEBSITE: https://www.gref.io/
WHITEPAPER: https://www.gref.io/gre.whitepaper.en.pdf
TELEGRAM: https://t.me/GREF_EN
MEDIUM: https://medium.com/series/aa50bbc44814
FACEBOOK:https://www.facebook.com/GRE-Foundation-2080066572230352/
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