Nanda Crypto: Global Risk Exchange (GRE) - solutions in the direction of the risk exchange market and their management

Greetings friends. I met quite an interesting project that deals with risks, including, for example, insurance, which is quite an urgent issue in the modern world. Especially in the west, where without insurance, there are large restrictions on activities, including business.

Global Risk Exchange (GRE) is a block-based, decentralized and open global risk exchange marketplace with the aim of helping individuals and companies and organizations access and trade and manage their risks. The project completely reconstructed traditional risk management tools (insurance and derivative contracts) in a decentralized manner and will become the basic operating system for supporting insurance and derivative transactions. GRE is seeking in the near future to build the infrastructure and trading platform for the risk management industry in the world by providing a fundamental protocol for creating risk events, pricing, trading, gathering information and oracles in order to identify specific risks. This will allow individuals and institutions around the world to achieve a balance between risk and payment.

The ecosystem of the project is built around several categories of platform users. Let's consider them below:

Insured

This group of users are people and corporations in the real world who want to buy a risk management contract (give bonuses) to hedge their risks

Contract Designers

Provide professional risk management skills to the GRE community and can publish risk management contracts after a community review and receive fees based on transaction fees collected during the trading of this contract

Policyholder

This group of users is insurance and reinsurance companies and insurance investors related to insurance. They receive bonuses from the risk management contract and take the risk transferred to them

The very structure of the interaction is more complex, but it is quite clearly illustrated in the infographics below and is more detailed in white paper

The GRE platform charges a fee for each risk management operation and introduces it into the fund development fund for the subsequent development and maintenance of the platform.

The GRE Foundation is an independent body with primary responsibility:

Support for technical platform development, selection and implementation of major partners and active development of the GRE community

The GRE Foundation will be responsible for community development, incentives development, legal issues and compliance with all conditions

Responsible for developing an intellectual contract, allowing community developers to submit changes and code errors, creating a fair and reasonable evaluation mechanism

As for the token, it is built on the basis of the Ethereum block system, the standard

ERC 20. It has a number of tasks, if you formulate them, you can express it like this:

All risk management transactions on the GRE platform use the RISK token as a transaction intermediary, as well as to calculate contracts

Platform users will pay transactional fees using a token

Any organization or individual can create a risk management contract on the platform after the community review and receive a reward for the amount of transactions

The community will reward developers with a token based on their contribution to the code

All individuals and organizations can contract on the platform and attract new customers to risk management contracts in the field of trade, and they will receive a fee from the transaction fee charged to the new customers they invite

Exchange dealers on the GRE platform can use the token as a security to issue markers linked to the market, such as GRE.USD or GRE.CNY. This mechanism is similar to BTS and BITUSD in the ecosystem of Bitshares

If you sum up, the project is very interesting. He already has a Web APP, which can be found on the site. Moreover, from very good news, it is that he sold all his tokens and collected a hardcase at 10,000 EHT in 4 days! This is an amazing result and a good indicator of relevance and interest in the project. I will definitely follow the project.