Mattereum is a synthetic jurisdiction providing certainty about the legal frameworks which will be used to handle issues arising from new technology in business.
Dr. Mihai Cimpoesu, who holds his doctorate in Computer Science, is Mattereum’s Chief Engineer and was a technical lead in the Blockchain team for Thomson Reuters. The two companies signed a Letter of Intent (LOI) on December 18th to collaborate on the effective mass use of blockchain for the InsurePal application. Security, trust, and tangible benefits for all parties will make InsurePal a vital component of blockchain business transactions. InsurePal, an award-winning next generation, peer-to-peer insurance based on social proof endorsements, has announced a collaborative partnership with the first Internet of Agreements infrastructure platform, Mattereum.
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An insurance smart contract is created before the business transaction takes place.
InsurePal is providing the trust and transparency that people are looking for through the self-regulating social proof mechanism. Insurepal (IPL) Here’s a project with actually zero technical roles listed on its team page. InsurePal will provide insurance of all transactions through its network, while Mattereum will serve as a decentralized court of arbitration for disputed smart contracts. InsurePal is making important strategic partnerships, such as with Mattereum, to provide the three basic pillars of future blockchain business: blockchain ID, arbitration, and insurance.
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Working with Mattereum, InsurePal will be able to provide certainty about the legal frameworks that manage legal rights over property on the blockchain by means of a synthetic jurisdiction.
InsurePal is challenging the current insurance industry, which fails to deliver transparent pricing model and guarantee fraud protection. Rob Knight, an experienced entrepreneur, software engineer and architect and Chief Technology Officer, is responsible for the overall management of Mattereum, notably implementation and co-ordination of the technology. Blockchain business transactions will benefit from the insurance offered by InsurePal, causing the field to grow exponentially. Mattereum will create and manage the legal and technical systems required to implement the control and transfer of rights in material and intellectual property, as well as digital assets.
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The company believes blockchain is the best architecture for the project implementation.
For InsurePal users in the future, it means the use of decentralized arbitration within the scope of smart contracts that is to be built into the platform. Mattereum will undertake the legal and technical development work to ensure that legal texts and their corresponding digital equivalents represented in Sweetbridge ecosystems are compliant with regulations in relevant jurisdictions. With that feature of the platform forefront, the InsurePal team made a major agreement this past week with Matterum, a purveyor of smart contracts for the real world. London, 16 February 2018: Mattereum and InsurePal have announced the Identity Insurance Consortium (IIC) to drive insurance-based identity solutions to underpin the security of commerce on the blockchain.
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Organisations in the insurance sector and those already involved in blockchain trades are invited to become members of the Identity Insurance Consortium and contribute to its development.
InsurePal doesn’t support uncapped token crowdsales as the team is able to provide an estimate on how big an investment they need to achieve the stated business goals. InsurePal, a distributed social proof insurance ecosystem powered by blockchain technology is now just a few weeks out from commencing its initial coin offering of IPL tokens. As such, Mattereum adds a vital component to the ecosystem of InsurePal, which is now composed of insurance, blockchain ID, and arbitration. But for the blockchain to work, InsurePal says, individuals have to trust the system.
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Recentemente, a InsurePal anunciou sua parceria com a startup de contratos inteligentes Mattereum.
Mattereum provides natural language contracts, along with corresponding smart contracts, to facilitate common legal tasks. You can learn more about InsurePal’s proof of concept to see how the decentralized platform will boost confidence in blockchain business transactions by visiting their official crowdsale website. This added layer of arbitration and property management dovetails perfectly with InsurePal’s blockchain business transaction insurance. According to the company, providing financial compensation in case of a breached contract will help to solve the problem and significantly expand blockchain usage. One of the most striking features of InsurePal is how it boosts blockchain business transactions.