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ValPromise determines if promises are honored, basing on the public monitoring data via Internet. It allows any individual or organizations that satisfy the rules of the system have access to release their own promises (contracts), while any
individual may accept promises(contracts) issued by counterparties with their trust on the fairness and enforceability of the contract itself, which solves problems of collaboration regardless of geographical differences and regulatory differences.Specifically, the ValPromise project will focus on the risk management area which scales up to over $1 trillion annually and deliver with a decentralized promise
mechanism involving in releasing and trading. They aim to build a fully trusted,more efficient and cost-effective collaboration system of global risk management.
The exponential weather insurance will be the ValPromise’s first mature application.So far, with the leading unattended system in pricing automatically and risk control in China, they have made a great deal of cases successfully and have issued over 200,000 guarantee contracts on weather risk in the past 6 months. Over 20, 0000 customers from tourism and agriculture industries are served and they reached a cooperation relationship with Ink Weather, Tujia, Sunshine Insurance Company,major travel agencies and so on.
The ValPromise system will empower regular individuals and organizations to easily find hedge contracts and services tailored to their individual needs, which helps build a more efficient ecosystem of risk management across the globe. The
ValPromise risk management system will develop a wide range of applications in the future such as index insurance, commodity futures, foreign exchange futures,entertainment and others.
VPP are digital tokens issued by a globally distributed promise Blockchain Exchange, based on the decentered ERC-20 block chain digital assets is released by Ethereum. The total amount A2:E57f the offering is 5 billion.
1.The Token VPP is the only participatory and billable in ValPromise
As the medium of issuing mortgage and settling tokens in ValPromise system, VPP tokens are transferred from other mainstream digital tokens (such as BTC, ETH, LTC,etc.) in exchanges firstly, and then used as collaterals for issuing promises or the purchase of value promise contracts. Once the promise meeting requirements, the system will automatically transfer the corresponding tokens to the promised wallet.
The unified trading medium with digital tokens will break restrictions on types of tokens and different regions and have better access to global markets. In return, global liquidity
will make the platform more powerful and unsurpassed.
2.The Token VPP is the proof of proceeds in ValPromise system
All participants will receive dividends generated by the operation according to the tokens they hold in ValPromise. In the meantime, the founding team (including development and operation team and consultant team), promotion team, ValPromise association, random rewards will be assigned tokens on the basis of a certain rules and proportions. And the remaining tokens will be used for raising tokens to the construction of the underlying technology, the development of scene product,operations of contextualized community, operations and promotions in multi-scene ecology. The more details please refer to the following economic model.
hain circle -
BTM, released in 2017, is more than the original chain's tokens than the original coin, with a total of 2 billion 100 million. Bytom Blockchain Protocol (abbreviated original chain: Bytom) is an interactive protocol of a variety of assets that runs on different forms, isomerous bits (native digital money, digital assets) and atomic assets over the original chain block chain (native digital money, digital assets) and atomic assets can be recorded, exchanged, betting, and based on the contract. More complex interactive operations.
The traditional world -
The weather risk hedge company, founded by a.Climate Co. former Google employees, was bought by Monsanto for about $1 billion in 2013.
B. NYSE, the center for the issuance and trading of financial assets, is centralization, and VPP is building a de centralized asset exchange.
Focus on the analysis of the similarities and differences between project and BTM
Difference points between VPP and BTM
Bytom is an interactive protocol of a multiple bit asset that runs on different forms, isomerous bits (native digital money, digital assets) and atomic assets (the warrants, rights, dividends, bonds, information, prediction information, etc.) of the different forms of the original chain block chain (the original digital currency, digital assets) and the atomic assets. Through the agreement, registration, exchange, gambling, and contract based more complex interaction operations.
Compared to BTM, although ValPromise is also located in the chain of financial assets, the application scene and target group are more focused and specific, and ValPromise is located in financial contracts (futures, options, index insurance) linked to objective public indicators.
Efficient operation will only be based on an objectively automated contract to carry out a financial asset chain. Its operation will hardly involve too many human factors. It can give full play to the de centralization of the block chain (without emotional color machine governance), and because it is completely implemented by the machine to make the efficiency of the system highly efficient.
Secondly, the ValPromise team starts from the application and finally constructs the financial asset distribution agreement. Compared with the BTM from the underlying public chain, the free financial asset distribution is constructed. The operation of ValPromise business is very early. It can use specific application scenarios to attract the community and expand the community on this basis, although the start of the ValPromise is later than BT M, but its application scene has come to the ground and can be expanded rapidly. It can be foreseen that the growth rate of ValPromise's community will be faster than that of BTM, which is another big advantage in the community is the area chain of productivity.
ValPromise's team members.