What is Bitpark Coin?
Bitpark is a platform that offers P2P insurance services and is traded in the form of a cryptocurrency . The developers are pursuing the establishment of a platform that can combine the need for insurance with the advantages of Blockchain .
Bitpark Coin – The platform
In addition, instead of traditional insurance, P2P insurance should be used. This is to ensure a particularly high degree of transparency and customer orientation. Furthermore, the developers also see the provision of smart Contracts before, so insurance services are provided by insurers. The billing of contracts should also be carried out by means of smart contracts. In addition, evaluations using the Smart Contracts to be obtained, so that a valid feedback on the P2P insurance can be obtained. This approach is intended to drive the growth of the platform.
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Furthermore, the developers also want to provide a service that helps especially friends and acquaintances in mutual support. In addition, this should also ensure an optimized payment traffic. This approach is based on the supporting system of “Mujin” who lived in ancient Japan. By using the cryptocurrency and the involvement of the community a similar functionality should be guaranteed.
Bitpark Coin – how it works
The Bitpark Coin is characterized according to the developers by the token from. This is used in particular in compensating for damage claims during the settlement process of the insurance. Users also have the opportunity to pay for insurance services using other tokens, which are considered to be particularly stable. The different types of insurance are also considered special. As part of the platform especially small and short-term insurance are marketed. This allows the application to be assured in everyday practice in particular. In the future, in addition to the P2P insurance, established companies should also be integrated, so that the acceptance by the users increases.
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Collective Management is a feature that allows users to view the entire transaction history. For security reasons, however, this feature should only be activated for policyholders so that the privacy of individual users can be guaranteed. The next special feature is the community. As an essential part of the platform, this takes the form of insurance or MUJIN. Regardless of the role of the community, mutual help among users is guaranteed. Furthermore, users who voluntarily share their experience share a discount on insurance premiums and also qualify for lending small loans. The last special feature of the platform is the automatic management of income generated by insurance services.
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What is the current market capitalization of the Bitpark Coin?
The Bitpark Coin has been traded on the markets since December 30, 2016 under the name BPC. The Initial Coin Offering took place on January 3, 2017 at an issue price of $ 0.013844 per token. On 12 June, the cryptocurrency subsequently reached its highest level with a market capitalization of $ 10.5 million and a token price of $ 0.1403. At the time of writing, the market capitalization is at a level of $ 811,605. The price per token is currently trading at $ 0.010821. The daily trading volume is around USD 1,000 and is realized in particular through trade between BPC and BTC.
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