What is GRE?
Global Risk Exchange is a blockchain based system and is one of the best-decentralized platforms which helps to open global risk exchange market. The main purpose of the global risk exchange market is to help not only the individuals but also companies and organizations to approach them, to trade and solve their risks. GRE completely rebuilds and helps to solve each and every risk occurred in the management industry and supports insurance and similar transactions in the blockchain.
GRE ecosystem is a blockchain system developed in such a way that it solves all the problems of the risk management contracts. GRE want to build a new infrastructure that can help to support all the participants like insured, insurer, and contract designer.
GRE blockchain is safer, well-organized and more innovative, modern industry builds only on trust so they came up with new ideas to solve all the problems of the management market. All the insurance companies use license, ratings, and structure that helps to increase their wealth. As everyone knows that in 2008, financial crisis went down even the largest insurance suffered from this crisis. Insurance is continuously operated, low-tech and inefficient, industry levels come to lose around 50% and the insurance money is used to pay damages. While the remaining half is used for the brokerage and operations. Blockchain connects insured directly to the insurers and uses smart contracts that request for payments.
Characteristics of GRE
GRE platform is built on the Graphene toolkit, per second 100,000 transactions are performed and it takes just 1.5 seconds to confirm a block. GRE improves all the parts of the traditional insurance through Oracle and API(Application Processing Interface). High efficiency helps to reduce the cost of the mediator.
GRE Transaction Fees
GRE platform improves to buy or sell the assets without changing the price. GRE comes up with a new mechanism named as “maker-taker” that helps insured to pay the definite amount as a transaction fee and by providing insurance capacity, the insurer will receive rewards from the transaction fee. All the amount of transaction fee is paid in RISK, not only the users it also includes the users who also use fiat-pegged tokens. They need to maintain RISK tokens in their accounts that help them to pay for GRE transaction fee.
GRE generates RISK Tokens that are 10 billion in number on the basis of Ethereum ERC20. Users can get RISK tokens through token sale, airdrop and they can buy in cryptocurrency exchanges, distribution of all tokens take place after the RISK is released.
Allocation of the RISK Token
~ The Tokens supply is 10,000,000,000 billion RISK.
~Out of 100%, only 40% of the RISK tokens sold in the token sale and are locked for 24 months.
~ 10% of the Tokens are allocated for the purpose of the Foundation Management Fund that will be used for the development of the GRE Foundations operation.
~30% of the RISK tokens were distributed to Community Development Fund and will be unlocked based on the rules followed by lock-up.
~Thus, out of 100%, only 20% of the tokens are used for the Team members.
Expansion of GREF Roadmap
- In the first quarter, they developed GRE-core.
- Constructed a centralized Oracle for the data source.
- Developed a demo version of GRE APP for IOS and Android.
- Developed a demo version of App-server.
- Developed HI editor.
- Started expansion of Mobile wallet development.
- Development of Official App.
- Extension of GRE-Core and Oracle development.
- Development of Alpha publication.
- Supply API and SDK.
- GREF platform help in the security audit.
- Test running can be performed on the platform of GREF.
- RDHI (Reference Database of Hazard Identification) database of content production takes places in this stage.
- Development of KYC.
- GREF platform handles security audit.
- Moves to a public chain.
- The formal operation provides in the GRE primary market.
- Finally in the first quarter of 2019 development of secondary markets helps to transfer to other accounts.
- Secondary market base content production.
- Total development of the Alpha version of the secondary market.
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