Pal Network (“PAL Network”), a two-layer protocol for financial assets, is a platform built on a dual vision to solve key issues in the world of insurance and cryptocurrency today.

The problem the project solves

The first problem is that today, millions of people in the developing world do not have bank accounts. So, they don't get adequate insurance coverage. Through our platform, we aim to lower the barriers associated with traditional insurance for these populations. Ultimately, our mission is to bridge the gap between consumers and insurance providers in developing countries by providing new links to the insurance ecosystem by leveraging advanced technology in the blockchain space.

The PAL Network plans to work with emerging market insurers to address the lack of insurance protection for millions of people due to existing complex purchasing processes and high insurance premiums.

The second issue concerns the overall security of crypto assets. Over the past few years, there has been an increase in major hacks of cryptocurrency exchanges and wallets, resulting in the loss of large amounts of funds. This makes many people want to have insurance that can protect digital assets. We seek to provide commercial companies and individual investors with a range of robust digital asset protection insurance against loss of funds due to operational flaws such as hacking.

In the current PAL network, many insurance companies have cooperated with us on traditional insurance products. We will now work with our global insurance partners to create insurance that protects crypto assets and address urgent security concerns in the crypto space.

Benefits of PAL Network

24/7 availability
Real-time transactions
Information transparency
Automated verification
Security and confidentiality
Audit trail and complete transaction records
Through the use of smart contracts Increase flexibility
Efficiency

Benefits for PAL token holders

Purpose:
Participate in surveys about the development of new features for the PAL Network and earn PAL Network Reward Tokens for their participation.
Participate in surveys of new insurance products and earn PAL Network reward tokens when the product is launched.
Participate in marketing referral programs, form insurance communities and insurance pools, and earn PAL network reward tokens.
Members can use PAL Network Tokens to purchase insurance on the PolicyPal Singapore platform.
Allow trusted partners to run masternodes with PAL tokens and use user data by rewarding users with PAL tokens.

Reward program for insurance purchases:
When purchasing insurance policies on the PolicyPal Singapore platform, members can get an additional 2% reward in the PolicyPal network token system.

Community:
Token holders play an important role in the PolicyPal Network blockchain through a proof-of-stake system (POS).
As mentioned above, PAL tokens are utility tokens whose full value comes from holding or consuming tokens in exchange for services provided by the PAL network. They are not intended for speculation and do not claim intellectual property or other property or cash flow.
Token holders have no right to participate in or make decisions regarding the assets or strategies of the Token Issuer or any other entity. The value of the PAL network token is only generated from the use of the platform. We do not promise its monetary benefits or other uses.

Project Ecosystem

The PAL network will be a data platform where token holders, partners, insurance companies, insurance agents and third-party data sources are aggregated into the ecosystem. Each party will carry out different activities, participate in the development of the ecosystem, and in return, each party will earn PAL network tokens.
The PAL Network will aggregate consumer information for insurance underwriting, verify identity and process claims. Third-party data sources include hospitals, clinics, weather statistics, death registries and various authorities. They will be linked to the PAL web platform to automate insurance claims and payouts for policyholders. PolicyPal’s existing insurance partners and insurance agents in Singapore can also participate in the ecosystem by distributing insurance products.
Token holders can participate in the ecosystem by suggesting new types of insurance products and assisting in promoting insurance among groups. When a community's claim rate is lower than the average claim rate for the same city/state, parties involved in helping market and form the community are rewarded with additional PAL Network Tokens. Smart contracts for the PAL network include weather condition triggers, fraud detection features, and pricing algorithm adjustments. The entire process is transparent and traceable to all parties, reducing the amount of back-and-forth communication required for insurance underwriting and insurance claims. The PAL network ensures that claim payouts can pass through the P2P mutual insurance pool and can be viewed by all participants in the ecosystem. Our secure blockchain design will ensure privacy and confidentiality.

Related links:
https://www.528btc.com/jingzheng/36166.html
https://www.qukuaiwang.com.cn/news /12837.html

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