Etherisc ICO Review and Rating

Etherisc ICO Review

Insurance

Updated 08/04/18

Etherisc is a decentralized platform to redesign the multi-trillion dollar insurance industry.

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ICOBench4.3
TokenTops3.7

Etherisc Token Sale

06/25/18 - 07/24/18

Whitepaper Website
TickerDIP
Token Price1 DIP = 0.0942 USD (0.00020000 ETH)
Hardcap$28.3M
Raised$3.79M

Social Hype

Followers3,581
Followers2,534

Etherisc GitHub Activity

Commits across all public GitHub repositories owned by Etherisc.

Etherisc ICO Review & Analysis

The insurance industry today is worth several trillion dollars. As is the case with a market containing so much value, large corporations have taken over. This results in pain points for customers, as customer and company goals end up misaligned. Furthermore, the industry suffers from a lack of transparency and heavy regulation, often costing the consumer. The benefits of decentralization for insurance are immense – and Etherisc is trying to lead the way.

What is Etherisc?

Consumers lose a significant amount in the insurance ecosystem. Etherisc wants to change that.

Etherisc is a platform for the building of decentralized insurance applications, with full legal and regulatory compliance, high transparency, and low operating costs. By making the insurance process more lightweight, a greater percentage can be transferred to the consumer. As a result, selling insurance to the consumer is a lot easier, as the package is more attractive on their side.

Existing processes are improved on by implementing smart contracts to support policies. Where currently disputes can easily arise over payouts, immutable and incorruptible smart contracts make policy terms clear and balanced for all parties. In addition the labor needed in the process is a lot less, taking a large sum of money that can be translated to higher percentage payouts. Etherisc applications also use autonomous oracles to assist in the process, taking a further unnecessary human component away – less cost, less chance for companies to take advantage of consumers. The project also introduces a reinsurance market, where providers can easily and efficiently trade risk on a tokenized platform.

Several decentralized applications have already been built and release based on the Etherisc framework. These cover areas such as flight delay insurance, hurricane protection, crypto wallet insurance and collateral protection for crypto-backed loans.

The Token & ICO

The platform uses the native DIP token as a utility, allowing the operation of a decentralized network. A major role of DIP is to enable a staking contract, in which tokens are staked when an agreement is met, incentivizing parties to do business in a fair way. DIP tokens are also used for a wide range of economic service on the platform – purchasing of policies/products, providing services, and much more.

The Etherisc ICO is beginning on June 25, planned to run for one month. The sale’s hard cap is US$30 million. 30% of the total token supply will be available for purchase. 15% is allocated to the team, 10% to the founders, and 45% retained for future uses by the platform in providing insurance-related services.

The Team & Roadmap

The project was initially founded out of Europe, though has expanded into world-wide coverage. Co-founders Christoph Mussenbrock and Stephan Karpischek hold a large amount of business and financial services experience in Europe, while fellow co-founder Renat Khasanshyn comes with a background in venture capital in Silicon Valley. The project lists 23 team members and 6 advisors total.

Beginning in 2017, Etherisc has been through a number of blockchain competitions and showcases, receiving positive results. Prior to June’s token generation event, their flight delay insurance dApp is already operating. Several more apps have a prototype completed and are planned for release by the end of 2018.

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