PolicyPal Network (PAL)
this is a mid-term pick that should come to profits in Q3-Q4 this of this year. Analysis below.
total supply: 1 000 000 000
circulating supply: 500 000 000
current Price: $0,04 USD
Marketcap: $24 000 000 USD
PolicyPal Network aims to achieve the goal where cryptoassets holders are adequately covered by insurance from cyber network hacks and reducing the barriers of entry for insurance to the emerging markets through peer-to-peer mutual aid insurance implemented on the blockchain. PolicyPal Network is targeted at lowering barriers of entry for the unbanked that traditionally do not have insurance protection due to costly premiums in relation to their income. With P2P mutual aid insurance, PolicyPal Network wants to build a inclusive community where members are able to obtain protection at a relatively low cost.
This functions through smart contracts that automate the underwriting of policies and claims handling powered by PolicyPal Network blockchain which reduces the cost of insurance premiums making insurance protection affordable for the unbanked.
They will offer insurance products on the QTUM network and have a partnership with NEW, as well as insurance giants like AXA and ERGO.
The final version, which will likely launch end of the year, will be run on Ethereum Plasma!
Proof-of-Stake will be the consensus mechanism.
PolicyPal Network is a close associated side-venture of the company PolicyPal, which has already
accumulated a user base of about 30,000 in Singapore alone since its launch 12 months ago.
InsuranceTech is one of the hottest topics in FinTech right now, and now it is coming to the blockchain.
PolicyPal was part of the PayPal incubator, only one ICO was part of that before. It was TenX, which made really good gains. The team is very good, the advisors are top-lvl, for example Shaun Djie (founder of DigiX global) and Bo Shen from Fenbushi Capital (Vitalik Buterin has a stake in this company). CEO Val Yap is listed as Forbes 30 Under 30 Asia.
Further PolicyPal Network is an registered insurance broker in Asia and has already a growing customer base. Partnerships with AXA, ERGO, QTUM and NEM. A solid use-case, major partnerships, advised from respectable persons. And it is a PoS-asset, these do particulary well because they generate cashflow.
This reminds me of Request Network at the start, it is vastly undervalued.