**Introduction**
GREF stands for Global Risk Exchange Foundation, is a blockchain based decentralized and open global risk exchange market to help individuals and companies to access, trade and manage their risks. Through decentralized, they are reorganizing the traditional risk management industry under the blockchain technology. This decentralized exchange platform is helping participants in the risk management contract such as insured – who pay for premiums and sell risks, insurer – who receive premium and take on other people’s risks and contract designer – who measures individual risks and design the contract.
So, basically GRE aims to build the decentralized trading platform for risk management industry under the blockchain technology.
**Problem**
The main problem is the challenges facing by traditional risk management industry. They are –
1. Centralized & Risk Pricing Market – The traditional insurance products are designed and set price in totally centralized manner. The designing product could not meet the different types of risk management needs of the people and no efficiency in risk pricing. On the other side, the sales in insurance companies are highly dependent on channels.
2. High Sales Channel Cost – The traditional insurance market is highly dependent on intermediary channels and the structure to maintain control is in a pyramidal way. This will result in high insurance broker agency fees and operating expenses.
3. Low Operating Efficiency – It is happening due to the organizational structure of insurance companies is large and inflated where decision making process, and the ability of whole operation is low.
4. User Privacy Protection – In traditional insurance sales process, it requires insurant to provide their personal information including ID cards and other private information. It will all kept in the insurance company’s database where large number of risk is being there as information leakage and illegal use.
**Solution**
GRE come up with their solution by leveraging blockchain technology as a sharable distributed ledger to store transaction data, issuing cryptocurrency and implement intelligent contracts.
They are providing personalized platform where participants can publish their personalized insurance needs. Deconstructing a traditional insurance industry by improving efficiency in sales channel, insurance contracts and insurance capacity.
Personal identification and information is being stored safely on the blockchain and the ownership of that in the hands of user itself. The only way to view personal information is through a smart contract of identification.
Tokens will be rewarded to all individuals and organizations for contributing to the community.
**GRE Platform**
This platform is being working on 4 roles such as Contract Designer, Insured, Insurer and Block Producers.
Contract Designer are the Underwriters in this platform, who is responsible for designing terms of risk management contracts, provide insurance expertise to this platform.
Insured are the group of users who are both individuals and institutions who want to buy risk management contract to protect their risks.
Insurer accepts the risk which is transferred by the insured and pay the corresponding liabilities when the risks occur. They provide their insurance capacity to this platform and get rewards with a portion of transaction fees.
**The Team**
Paul Qi – He’s an Actuarial master of Boston University and has worked for many years in the US as Actuary. He’s a Founder and CEO of OK Auto Insurance.
Charles Huang – He’s an Investment Banker, Fintech and Enterprise Service Entrepreneur.
Angela Li – Graduated as a Master of Finance at Fudan University. She’s having more than 5 years of experience in overseas secondary market investment and more than 3 years of experience in investment and financing in China’s primary market.
**Token Matrix**
Token – RISK
Total Token Supply – 10 Billion
Price – 1 RISK = 0.00001 ETH
Soft Cap – $948,364 USD
Hard Cap – $9.4M USD
**Social Media Reach**
Facebook – 1940+ Followers – https://www.facebook.com/GRE-Foundation-2080066572230352/
Twitter – 3005+ Followers – https://twitter.com/GRE_RISK
Telegram – 29170+ Members – https://t.me/GREF_EN
**Verdict**
The Social Media hype is good, but they are not much active on their Telegram Group.
The Website and Whitepaper both explained in detail which is easy to understand.
There are 5 core members in the leadership team who are having experience and expertise in Insurance Industry, Finance, Marketing & PR and Fintech Industry. They are lacking in Blockchain experience.
They have 5 investors on board who are already holding a position of CEO and Founder of leading companies. They have expertise in Fintech industry, Finance, and Investments.
The Roadmap is provided till 2019 where iOS & Android App is being already released in Q1 2018. The Web App is available on their website.
They have 5 investors on board are Shen Bo – is a founder of Fenbushi Capital, James Gong – is a founder of ICOAGE, LD Capital, JRR Crypto and Huobi Eco. They have partnered with AXA Labs Asia.
**For Detailed Information**
Website – https://www.gref.io/
Whitepaper – https://www.gref.io/
ANN Thread – https://bitcointalk.org/index.php?topic=3178591.0
Bitcointalk Username – ritikagupta
Bitcointalk URL – https://bitcointalk.org/index.php?action=profile;u=1375471
ETH Address – 0xA6119b0AF2EC4A3e8A64f8ADA1dBF152f06eC392