Peer-to-peer insurance model is promoted with a fresh partnership

Insurance industry in China is one the fastest growing insurance markets in the world
14 February 2018   803

On February 13 iXledger of London has announced its partnership with the Chinese InsChain. As the Chinese insurance market is growing rapidly, it needs to ensure easy interaction and efficiency among many actors of the market. iXledger’s IXT token has proved to be a reliable way of microtransactions across blockchain enabled ecosystems.

As a result of this partnership iXledger’s utility token will be accepted on the InsChain platform for peer-to-peer services throughout Greater China Region.

This interoperability enables the creation of new insurance products and services, while enabling price discovery with total control and transparency.

 

Cristina Dolan

Co-Founder and President US, iXledger

 

We are excited to partner with iXledger, they understand the blockchain enabled Market Economy and have the technical experience required to build the next generation blockchain platforms that will power insurance related ecosystems. This partnership will enable consumers and businesses to participate in new insurance models like our InsChain peer-to-peer product

 

William Bu

InsChain CEO

iXledger provides a robust platform for buyng and selling insurance: the listings are real-time and are based on a blockchain. Ethereum blockchain is accompanied with a NoSQL database for fast access to different data such as medical records or other confidential information.

On the other hand, InsChain is an extendable blockchain-based alternative insurance full workflow platform that combines blockchain, IoT and AI. AI part is responsible for the initial interaction with the client in order to obtain all the necessary information, build a decision tree and provide the result on the conditions of the possible insurance.

Binance to Earn $78M in Q1 2019, The Block Reports

Binance does not publicly disclose its financial statements, however, the company's profits can be calculated based on the number of burned BNB tokens
17 April 2019   116

According to calculations by The Block researchers, the profit of the Binance Bitcoin Exchange in the first quarter of 2019 was $ 78 million.

At the same time, in the IV quarter, the popular marketplace earned $ 47 million. Thus, in the first quarter, profit growth was 66%.

Binance Profit Acc. to The Block
Binance Profit Acc. to The Block

According to analysts, Binance does not publicly disclose its financial statements. However, they argue, the company's profits can be calculated based on the number of BNB tokens burned by the company. For example, today the marketplace conducted the seventh token burning procedure. During its course, 830,000 BNBs were burned, representing 20% ​​of the profits in the first quarter.

In total, according to the results of these procedures, Binance destroyed 11.6 million BNB tokens. Thus, noted by The Block, for seven quarters the marketplace received $ 733 million profit.