Summary of Aigang ICO. Service of insurance DAO protocol
Aigang offers for users the insurance DAO protocol, the creation of insurance pools through crowdsourcing and bonuses from the market growth using the blockchain and DAO smart contracts technologies.
The project founders believe that we live in an era when the world is becoming more connected, and these connections became more complicated. In the next 8 years, there will be more than 55 bn devices for the Internet of things (IoT) in the world. Most of them will be able to diagnose its operating status, errors and imminent failures. It allows automating some insurance products, which will check claims and pay it automatically if it needed. It’s expected that the global IoT insurance market volume will reach $42.7 bn dollars by 2022.
As it expected most of IoT devices will collect data. Drones, sensors, and cameras will be able to send information that will be used as input data for all calculations. According to the Aigang founders, because of this, the number and variety of insurance products will increase dramatically. Their product is a system for independent risk assessment and insurance, suitable for use by all insurers.
The creators of Aigang position themselves as significant innovators in this area. According to the founders, the Aigang contribution to the insurance industry will be to adopt predictive markets to insurance pools. Its participants will be able to assess the insurance products on the Aigang protocol. It will improve the accuracy of risk assessment and the viability of the projects.
It is assumed that the solution will be used by existing large insurance companies (AXA, AIG etc.). Usually, they see solutions that use the blockchain and smart contracts competitive threat. They will be reluctant to abandon their existing, profitable models and will adhere to the conservative strategy. However, the Aigang project founders assume that able to achieve fast growth and flexibility in work with companies of all sizes thanks to innovative work with IoT data.
According to the project’s creators, they proved the prospects of their own business project with the help of beta-versions of applications that include integrated data feeds, all necessary algorithms and business logic.
According to them, now the project needs additional funds to build a fully operational platform, to develop partnerships with data providers, to expand the organizational infrastructure and promotion of the platform in a new dimension. Due to these goals, ICO campaign was launched, including the production of own token AIX. It gives the rights of participation in prediction markets projects. Accurate users predictions will be rewarded with reputational and material bonuses. Tokens AIX created on the basis of the ERC20 protocol, their number will be strictly limited. Its expected that after the finishing of the campaign will be no more new tokens.
According to the project founders, 10% of the total target funding was raised through pre-sale in August 2017. November 15, 2017, Aigang put on the sale 51% of the tokens.
The project Aigang has a clear structure, the detailed white paper ready prototype of the finished product, which already is available in the app stores for iOS and Android. But the scheme of work of the project as its own, the interaction with users and customers is painted spooky.
Token Lab Index Aigang – tokenlab.info/currencies/aigang