Decentralized Risk Platform GRE to Bring Risk Trading to the Masses

Global Risk Exchange (or “GRE”) is a blockchain-based, decentralized and open global risk contract exchange market, with the purpose of helping individuals, companies and organizations to freely hedge, transfer and trade their risks. The platform will bring risk trading to the forefront of exchange by addressing multiple inherent problems in today’s risk management industry.

The future is full of uncertainties. We cannot predict what will happen in the coming days, months, and years. The obvious solution to this problem is active management of risk in the forms of insurance for general public and derivative products for institutions to mitigate the effects of unforeseen circumstances.

With a global gross transaction volume of 4.8 trillion USD in 2017, the risk management industry is growing by the day. GRE is a blockchain based platform that banks on the power of decentralization and brings this industry into the future with streamlined, instant risk transfer at the touch of a button.

Current Problems in the Industry

The risk management industry is currently characterized by issues that make it very tedious and expensive to participate, and has a high barrier to enter:

GRE’s Solution to the Risk Market

GRE, as a blockchain-based platform, intends on revolutionizing how the risk management market currently works. By offering services that are efficient, more personalized, and fast claiming process, the decentralized risk marketplace gives consumers what benefit they have been deprived of for so long:

Paul Qi, Actuarial Representative of GRE, says:

“The system works by requiring insured’s premiums and insurer’s capacity remain on-chain, rather than premiums going into insurers’ pockets straightaway. Instead, premiums capacity are locked in the smart contracts from which any claims can be immediately paid out.”

The business model caters to short-term, relatively small premium products in the property and casualty side of the industry. But it also opens such customer segments to insurers, which previously would not have been able to offer these products at an affordable rate.

GRE: Roles and Stakeholders

In the GRE ecosystem, there are 5 roles, namely contract designer, insured, insurer, GRE platform and block producers:

RISK Token for Trading

The GRE platform utilizes a utility token for all transactions, called the RISK. GRE intends to generate 10 billion RISK tokens in total, with 40% (4 billion) tokens to be distributed to users via private and public token sale in the future.

With the token, any user on the platform can buy, sell, develop or trade a risk or venture into a secondary market of risks. Through smart contracts, the RISK tokens of buyers and sellers will be locked digitally and depending on the risk outcome (time period ends or a successful claim is settled), the platform will automatically release the tokens to the intended recipient.

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