The utility value of InSure and other DeFi insurance services in the Web 3.0 space.

Figure 1 InSurance plans cover all the crypto and DeFi projects (Image adapted from: 101blockchains)

The value and utility in the future world of Web 3.0

We are currently heading into the next generation of “spatial-infused” technology, what is coined nowadays as ‘Web 3.0’.

‘Utility tokens’ are where the real value is at

So what are utility tokens and how do they differ from standard tokens? Well, utility. Plain and simple. Utility tokens offer functionality “beyond being just a digital asset…providing functions beyond market value… enabling a fully decentralized ecosystem”, according to the Swiss cryptocurrency exchange, Shapeshift.

Figure 2 TAM, SAM and SOM are the ‘addressable market sections’’ within the Blockchain community, necessary to define when valuing utility tokens (Image sourced from: Pazos 2018)

So what value can utility tokens, such as SURE, bring to the world of Web 3.0?

Well, via decentralized insurance protocols integrated and embedded within the Ethereum (ETH) Network, we can:

  1. Distribute fraud risk across nodes for investments made in the ETH network
  2. Distribution of the Risk Funds pool in “staking mode”: any excessive residual funds will be reinvested and profits will be distributed based on the size of stakes (yearly based on the date of the last deposit of SURE to the wallet — traceable on ETH Network)
  3. Allow SURE tokens to be resold on other platforms when centralized exchange (CEX) cryptocurrencies (of fiat currencies) want to offer the fund’s insurance services
  4. Offer a hybrid approach towards the insurance claim payment voting system, utilising our AI expertise. In simpler terms: staked nodes can vote on the validity of the insurance payment claim and get rewarded. A node or member system for insurance claim payments.

Offering a way to insure your crypto portfolio. DeFi Insurance System. Utility value token and beyond

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