What Is Global Risk Exchange?
GRE or Global Risk Exchange is a blockchain-based exchange market for risk. The aim is to assist individuals, companies, and organizations to hedge, trade, and transfer their risk. This platform aims to bring risk trading to the fore by addressing the major inherent problems in the current risk management sector.
The future is always full of risk, nobody can predict with certainty what will happen even a week from now. The only solution to these issues is to manage the risk using insurance for the masses and derivative products for institutions. This will help to mitigate uncertainty about the future.
The risk management sector is quite huge. In 2017, the gross transactions were $4.8 trillion USD. This figure continues to grow. GRE will be a platform based on the blockchain, which wants to revolutionize the risk sector with instant risk transfer with just one click.
Current Issues Global Risk Exchange Seeks To Solve
The risk management sector is currently characterized by various problems that make it very expensive to be part of. For one, there is a very high barrier to entry. Another issue that is facing the sector is high channel costs. Intermediaries that charge a huge amount for the services plague the current value chain. This makes the risk hedging cost quite high.
There is also the issue of centralization in product design. Most products in the risk market are designed to be quite similar. This is usually great for mass distribution. However, those that have unique risk profiles usually end up being left out. This way, these risk management products fail to operate optimally.
Another issue to consider is user data privacy. In the traditional insurance market, the insured have to submit various personal documents. This data is stored on a central server and it is prone to misuse and theft. Besides that, there is also the issue of opaqueness in the OTC derivate market. This opaqueness in how risk is calculated leads to distorted risk measures and thus low-value pricing for those who purchase the products.
There is also the problem of a tedious and complex claiming process. An insurance claim that is made by consumers will usually take weeks or months to process. This is because most insurers have yet to upgrade their verification process. Besides that, the monetary transfers through banks are also quite slow.
The Global Risk Exchange GRE Blockchain Marketplace Solution
GRE is going to revolutionize the risk management sector by offering services in an efficient, personalized, and fast manner. Decentralization will give consumers what they have always desired. With the GRE platform, risk contract sellers and buyers will be able to connect directly with no intermediaries.
Besides that, this platform will customize products to ensure that as many people as possible are covered. The issue of data loss will also be outdated. This will be made possible by the blockchain, which offers one of the highest levels of security known to man in the digital era.
Global Risk Exchange RISK Token ICO Details
- Token Symbol: RISK
- Token Price: 1 ETH = 100,000 RISK
- Total Token Supply: 10,000,000,000 RISK
- Lock up time: Nil
- Soft Cap: 2,000 ETH
- Hard Cap: 20,000 ETH
- Start: May 20, 2018
- End: June 20, 2018