I-Chain ICO Review

Glass Cube aims to improve the insurance industry by building an open platform for insurance-related products using blockchain. They want to create a new and transparent platform for insurers and new players to join the market and provide smarter and better insurance products.

Key Statistics

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Premise

4.5/5 – Excellent

Their Insurance Platform, I-Chain, will enable insurers to publish their products on the Platform, where customers can buy and use those products. A website and mobile application will serve as channels of communication and facilitate common processes such as sales, processing of claims and others.

This platform can aid users in building their solutions. I-Chain provides them with a framework so that insurers can immediately start selling their insurance products instead of building everything from scratch.

Blockchain will allow the insurance industry to streamline their processing and improve customer experiences in making a claim. By storing customer information and claims in the blockchain, they could reduce the number of fraudulent activities.

I-Chain will offer consumers affordable and customized insurance products with easy sign-up, decision making, transparency and risks calculation. It will be all made possible by welcoming new players to join the market which will enable insurance companies to lower their costs to attract more customers.

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Team

4/5 – Very Good

Glass Cube, the company behind I-Chain, is a Moscow-based research company whose currently focusing their efforts on Insurance Blockchain Platform. Their CEO, Yuriy Mukhin has a PH.D. in economics. He has worked in major international companies and were a CEO in major Russian companies.

Another one of their founders, Pavel Pribylov, is a pharma market mogul and blockchain startup investor. And lastly, Sergey Chekriy has an extensive background in IT and works as CTO in financial technology startups.

Their team is made up of respected professionals with years of experience in their corresponding fields.

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Token

4/5 – Very Good

ICHN, I-Chain’s Utility Token, can be purchased thru ICO at a rate of 1 ICHN= 0.1 ETH. There is a total of 14 million tokens, and 5 million of these are for sale. I-Chain has a hard cap of 500, 000 ETH and soft cap of 100, 000 ETH.

If you buy a token before the end of October 31 this year, Glass Cube Ltd. will give you the same amount of security tokens for cooperating in their crowdfunding. Security tokens will be at 0.2 ETH following the registration of their release.

ICHN Utility token holders get access to the services on the I-Chain platform such as confirm transactions, run call center, support business process, run sales office and others. Users can earn tokens by downloading and using the I-Chain platform node.

The second token for I-Chain financials will be used for purchasing and selling insurance products and investing to risk pools.

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Risk

3/5 – Low Risk

I-Chain is an innovative platform that provides a means for insurers, and consumers get cost-efficient services and products. Their whitepaper gives us a deeper knowledge on their project and how everyone and the insurance industry as a whole can advantage from it.

With the teams and their founders’ experience in financial startups, business, IT and other fields, they are much capable of seeing their project come to fruition.

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Summary

3/5 – Good

The I-Chain platform gives way for entrepreneurs to create and sell their products to consumers through their website, social networks, mobile apps or instant messages. The platform will widen the range of insurance products and cut expenses for insurers, therefore lowering the prices of their products.

It gives opportunities for new players as well as give consumers easy access to insurance products. If they can guarantee the security of their platform, I-Chain will be in great demand anywhere in the world.

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Global From Asia ICO Briefing does extremely early-stage research of token offerings. As the project progresses, details may change significantly or completely. Always do your own research and do not invest more than you can afford to lose.

The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.

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Reviews

I-Chain

★★★☆☆

“ The I-Chain platform gives way for entrepreneurs to create and sell their products to consumers through their website, social networks, mobile apps or instant messages. The platform will widen the range of insurance products and cut expenses for insurers, therefore lowering the prices of their products. It gives opportunities for new players as well as give consumers easy access to insurance products. If they can guarantee the security of their platform, I-Chain will be in great demand anywhere in the world.”

- Rhea Gonzalez

I-Chain ICO Personal Review

★★★★☆

“ Premise ⅘ The Ichain team thinks that the insurance industry is too regulated for its own good. In fact, they believe that regulation does not bring real benefits to customers but is aimed mainly to keep control over insurance companies. Moreover, insurance companies are not very transparent to the average customer. Their solution is to utilize blockchain technology to create an open platform for insurers and customers. They believe this will bring transparency to the insurance industry and provide affordable insurance products to the average consumer. Team 4.5/5 Glass Cube is the Russian company behind the I-chain ICO. Their team comprises of many individuals with several years of experience in either tech or business. Token ⅘ Glass Cube will be having a crowdsale to fund the development of their ecosystem. In exchange for the funds they receive, they will be giving out tokens to each investor user proportional to their invested amount. The aforementioned utility tokens will allow access to the service provided by the platform. They will have no value outside the I-Chain ecosystem. Risk ⅘ • Glass Cube may not be able to deliver some or all of what they promised. They have an interesting concept but that’s all it is right now—a concept. • There are also technological risks with distributed ledger, especially new ones like I-chain, in the form of hacks, theft, cyber-attacks, etc. The smaller the network, the easier it is to harm. Summary ⅘ The I-Chain platform will be a free open source and disruptive insurance ecosystem. If they succeed, the insurance industry will open new doors to individual insurers more than ever before. Independent insurers could publish their insurance products on I-Chain and consumers could buy those products. The processes will be automated through smart contracts. They also plan to create risk pools to cover insurance risks. I-Chain will also take advantage of multi layering similar to Bitcoin’s Lightning Network except Bitcoin with LN only consists of two layers while their platform will have four. The first layer will be the Ethereum network where insurance products are integrated with smart contracts. The second layer will be Product logic backend, where micro-services matching smart contracts are stored. The third layer, Processing, ensures common functionality of all insurance products and application services. The last layer will be Channels, which could have mobile and web interfaces or be available in smart IoT devices. It seems they are still open to more applications for the last layer.”

- Evan Ezquer

Overall rating: 3.5 out of 5 based on 2 reviews.

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