Global Risk Exchange (or "GRE") is a blockchain based, decentralized and open global risk exchange market, with the purpose of helping people, companies and associations to access and trade and manage their risks. GRE completely reconstructed conventional risk management tools(insurance and derivative contracts) decentralizedly, and will become the underlying operation system to help insurance and derivative exchanges in the era of blockchain. GRE plans to construct the infrastructure and exchanging platform for risk management industry in the blockchain driven world in the near future, by giving a fundamental convention to the creation of risk events, estimating, exchanging, data collection and oracles to verdict specific risks. It will enable people and foundations around the world to achieve risk and return equilibrium. It's a platform where risk management policies and exchanges are driven by real demands, where individualized and fragmented risk coverages are made possible,and insurance protections are made agile.

GRE leverages a blockchain based decentralized exchange to help members in the risk management contract, insurant(party who pay for premium and sell his risks), insurer(party who receive premium and take on other gathering's risks) and contract designer(who measures singular risks and design the contract), execute and profit from their own particular data and understanding of risks. The market price of the risk contract represents the market consensus and the astuteness of the group, which is the best measurement of the risk at the moment.GRE enables a substantially larger base of insurance limit providers other than customary insurance companies and reinsurance companies, which are centralized, firmly regulated and capital intensive. Those new limit providers can convey more liquidity and data to GRE platform and can profit from GRE by going out on a limb on different sorts of risks they understand, while influencing the whole risk to exchange market more efficient by cut cutting down entry barrier for both insurant and insurer, boosting liquidity and data stream.

GRE plans to fabricate the infrastucture and exchanging platform for risk management industry in the blockchain driven world in the near future, by giving a fundamental convention to the creation of risk events, estimating, exchanging, data collection and verdict. It will enable people and establishments around the world to achieve risk and return equilibrium.

How Blockchain Technology Redefines Insurance

Personalized

Everyone in the blockchain can distribute personalized insurance needs, and leverages thesmart contract to coordinate corresponding insurance limit, which leads to a genuinely customized insurance protection for everyone.

Deconstruct Insurance Company, Improving Efficiency

Deconstruct a customary insurance organization into three sections: sales channel, actuarialability to design insurance contracts, and insurance limit. For sales channels, more sales are initiated by people in need of insurance instead of selling to a gathering of peoplesame item. Acturaries in insurance companies are free to distribute their own particular items on the blockchain and let the market determine which one sells and profit from exchange fees incured, therefore bypassing tedious internal endorsement process. By encouraging any assets that are capable of giving insurance limit, any individual,company or associations can leverage its risk valuing capacity to profit and augmenting limit with respect to specific risks.

Security and Identity Protection

Personal identification and property data is safely stored on blockchain, and ownership of sensitive data is entirely in the hands of the user. The best way to view personal data is through a smart contract of identification, and just those with private keys can authorize others to view their decrypted personal data.

Token Economics Incentivize Community to Contribute

All people or associations adding to the group are rewarded with tokens based on the group's predetermined rules, in this way giving the group members enough incentive to participate and to frame long haul relationships with the group.

Automative Claim execution by Smart Contract

Claims on the insurance contract are naturally executed by smart contract as per oracle, in this manner excluding human intervention in the claim process. Additionally, all premiums and limit are locked in the smart contract in the types of token and tokens are distributed naturally by smart contracts, eliminating counter-party risks.

TOKEN CONCEPT

All risk management contract exchanges on the GRE platform use RISK token as exchange intermediary, and the settlement of the contracts will use RISK too.

Users in GRE platform will pay exchange fees utilizing RISK token.

Any association or individual can create a risk management contract on GRE platform after comunity review and acquire a transation volume based rewards.

The people group will reward developers with RISK token based on their code commitment.

All people and associations are able to share contracts on GRE platform and pull in new customers to trade risk mangement contracts and they will receive a reward from exchange fee collected from the new customers they invite.

Exchange dealers on GRE platform can RISK as collateral to issue market pegged tokens, for example, GRE.USD or GRE.CNY. This mechanism is like the BTS and BITUSD in the Bitshares ecosyetem.

GRE will generate a sum of 10 billion(10,000,000,000) RISK tokens based on Ethereum ERC20 standard. GRE Foundation will be considered as the Initiator of all RISK tokens.Users could acquires RISK through airdrop and cryptocurrency exchanges after RISK is released.RISK is an utility token which may just be used on GRE platform for payment by usersto participate in the risk management contracts and payout of cases or results as indicated by oracles. Different partcipants(insured, insurer, and contract designer) hold different measure of RISK, as indicated by their respective requirements.

Visit the links below for more information:

Website: https://www.gref.io/

Whitepaper: https://www.gref.io/gre.whitepaper.en.pdf

Telegram: https://t.me/GREF_EN

Facebook: https://www.facebook.com/GRE-Foundation-2080066572230352/

Authored by Lelvin: https://bitcointalk.org/index.php?action=profile;u=1275173

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