Pal Network (“PAL Network”) Financial Assets Bi-layer Protocol is a platform built on a dual vision to solve key issues in the insurance and cryptocurrency sectors in today’s world.

Problems solved by the project

The first problem is that today, millions of people in developing countries around the world do not have bank accounts. So, they are not fully covered. Through our platform, we are committed to reducing barriers associated with traditional insurance for these populations. Ultimately, our mission is to leverage advanced technologies in the blockchain space to close the gap between consumers and insurance providers in developing countries by providing new links to the insurance ecosystem.

PAL Network Program works with emerging market insurers to address the problem that millions of people are unable to obtain insurance protection due to existing complex purchasing processes and high premiums.

The second question involves the overall security of crypto assets. Over the past few years, the number of major hacks has been suffered by cryptocurrency exchanges and wallets has led to a large loss of funds. This makes many people want to have insurance that protects digital assets. We strive to provide commercial companies and individual investors with a strong range of digital asset protection insurance to prevent losses of funds due to operational flaws (such as hackers).

In the current PAL network, many insurance companies have cooperated with us on traditional insurance products. Now, we will work with global insurance partners to create insurance that protects cryptocurrency assets and solve urgent security issues in the cryptocurrency space.

The benefits of PAL network

24 hours a day availability
Real-time transaction
Transparent information
Automatic verification
Security and confidentiality
Audit tracking and complete transaction records
Improve flexibility by using smart contracts
Efficient

Benefits of PAL token holders

Purpose:
Participate in surveys on the development of new features of PAL networks and earn PAL network reward tokens for their participation.
Participate in surveys of new insurance products and receive PAL network reward tokens when the product launches.
Participate in marketing promotion plans, form insurance communities and insurance pools, and earn PAL network reward tokens.
Members can use PAL network tokens to purchase insurance on PolicyPal Singapore platform.
Allow trusted partners to run master nodes through PAL tokens and use user data by rewarding users with PAL tokens.

Reward plan for purchasing insurance:
Members can receive an additional 2% reward in the PolicyPal online token system when purchasing policies on the PolicyPal Singapore platform.

Community:
Token holders play an important role in the PolicyPal network blockchain through Proof of Stake (POS).
As mentioned above, PAL tokens are practical tokens whose full value comes from the services provided by the PAL network by holding or consuming tokens. They are not suitable for speculation and do not require intellectual property or other property or cash flow.
Token holders have no right to participate in the token issuer or any other entity, nor have they the right to make decisions regarding the assets or strategies of the token issuer or any other entity. The value of PAL network tokens is only generated by the use of the platform. We do not commit to its monetary benefits or other uses.

Project ecosystem

The PAL network will become a data platform for token holders, partners, insurers, insurance agents and third-party data sources to aggregate into the ecosystem. All parties will carry out different activities to participate in the development of the ecosystem and, in return, all parties will earn PAL network tokens.
The PAL network will aggregate consumer information for insurance coverage, verify identity information and process claims. Third-party data sources include hospitals, clinics, weather statistics, death registries and authority agencies of all parties. They will be associated with the PAL network platform to automatically make insurance claims and expenses 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 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 to market and form a community can receive additional rewards for PAL network tokens. The smart contracts for the PAL network include weather condition triggers, fraud detection capabilities and pricing algorithm adjustments. The entire process is transparent and traceable to all parties, thus reducing the back and forth communication required for insurance coverage and insurance claims. The PAL network ensures that claim expenses can be viewed through the P2P mutual insurance pool and that all participants in the ecosystem can view it. 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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