fidentiaX a Fintech based in Singapore is developing a World's 1st Marketplace for Tradable Policies powered by Blockchain to Disrupt the Insurance Industry
SINGAPORE, SINGAPORE, October 18, 2017 /EINPresswire.com/ — fidentiaX is developing the world’s first marketplace for tradable life insurance policies. This innovative new solution will enable policyholders to sell their life insurance policies for a potentially higher cash value than if they were to surrender them back to the insurer, while investors can purchase these policies to earn uncorrelated stable investment returns.
While a market for tradable life insurance policies has technically existed for some time, this market has high barriers to entry and has, therefore, only been accessible to a select few specialist investors. In Japan, South Korea, Hong Kong and Singapore, alone, the surrender value of life insurance policies is worth over $700 billion making it a very large and potentially very lucrative market segment.
The majority of life insurance policyholders, on the other hand, are not aware that they have an alternative to surrendering their policy to their insurer once they no longer require it or want the cash-equivalent paid out instead. fidentiaX will provide a solution that caters to both of these stakeholders.
By building the fidentiaX marketplace on top of blockchain technology, the company is creating a secure, transparent and trustworthy environment for all stakeholders who want to transact in this lucrative alternative asset class. Insurance policies will be tokenized on the platform to make them easily tradable as they will be digitally secured, authenticated and protected from potential tampering on the blockchain.
To fund the development of the fidentiaX marketplace and the setup of fidentiaX Open Source Foundation, the company will hold two funding rounds in the fourth quarter of 2017. The private contribution round will be starting on the 20 October while the Public Crowd Token Contribution would start on 6 November 2017.
About fidentiaX Ltd.
fidentiaX is a Singapore-based fintech startup that was launched in 2017 to disrupt the insurance market by leveraging blockchain technology to create an active market for tradable life insurance policies. The fidentiaX founding team consists of industry veterans with more than 35 years of experience in the banking and insurance industry. To develop the platform, fidentiaX has partnered up with blockchain development company Blockchain Zoo.
Furthermore, fidentiaX is creating a non-profit foundation for proliferating the adapting of blockchain technology for the insurance industry. We will be developing open-source technology to help insurance companies issue insurance policies directly onto the blockchain and leverage on the benefits of the technology.
If you want to find out more about fidentiaX please visit www.fidentiaX.com or contact the company at
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Introducing the World’s 1st Marketplace for Tradable Insurance Policies powered by the Blockchain
Source: EIN Presswire