My Blog About Blockchain: Black Insurance - Digital Collateral Insurance

Black is here to make a difference
Black will use the blockchain to transfer risk directly from clients
(insureds) to financial backers (Black Syndicate Token holders):

Minimizing all inefficiencies
Storing all data securely in blockchains
Transparent business operations using smart contracts
Faster innovation by platform members
Black will fix the insurance industry fundamentally. Black is an insurance platform like Lloyds of London on blockchain without the expense, delays and bureaucracy that we witness today.

Insurance business will be generated by local MGAs / Brokers / Agents whose responsibility is designing insurance products for a market, pricing and selling the product and organizing claims handling. Delegating business to local agents makes the Black business model scalable while bringing business decisions closer to end customers.

Black Insurance will use two types of tokens:

Black Platform Token (BLCK). BLCK powers the infrastructure, providing access to the platform and for conducting voting on system updates to the platform (utility token). All platform users will use BLCK for managing insurance on the Black platform, and demand for BLCK will increase as more insurance business is conducted on the platform.

Black Syndicate Tokens (BST) (issued when the platform is ready). BST is an investment in insurance capital, and a specific BST is created for each syndicate (security token), The profitability of the insurance portfolio for a specific syndicate will pass-through to the holders of it’s BST.

The total allocation of bounty is 1% of all tokens issued

Total Bounty Budget will be allocated along all bounties as follows:
Facebook - 15%
Twitter - 20%
Bitcointalk signature - 20%
Telegram - 10%
Reddit - 15%
Articles and blog posts - 20%

General Terms:
1| The bounty campaigns starts at the moment of creation of thread on Bitcointalk.
2| 1% is allocated to the bounty, the amount of rewards will depend on the token sale results.
3| The Bounty Manager can make slight changes in the Bounty Campaign if deemed necessary.
4| Using multi-accounts, cheating, using someone else to do the work and spamming or any kind of unethical behavior when participating to one of the campaigns are not allowed and will get you disqualified from all bounties.

ICO structure
Pre-Sale Starts____________7/31/2018
Pre-Sale Period___________30
Pre-Sale Cap_____________$15,000,000.00
Pre-Sale Terms___________First week 25% bonus and after first week 20% bonus
Token Sale Starts_________8/31/2018
Token Sale Period_________30 days
Soft Cap_________________$2,000,000.00
Hard Cap________________$45,000,000.00
Token Symbol____________BLCK
Total Number of Tokens____471,082,090
Exchange Rate____________1BLCK = 0.2 USD
Minimum Purchase________$100.00
Accepted Cryptos__________BTC, LTC, ETH
Adjustability______________Undistributed tokens will be destroyed by token contract.
Listing___________________BLCK tokens will be listed on crypto exchanges
Token Holder Benefits______BLCK can be used to pay for services on Black platform. Black will guarantee that until 1st of January 2021 service fees paid with BLCK will be at least 20% cheaper than service fees paid in any other currency.
Token Trade Limitation_____Only Team and Advisors have vesting and sales lock-in periods

Token distribution