BITRUST

BITRUST

This is a decentralized peer to peer (P2P) crypto currency insurance platform based on Ethereum block chain leveraging smart contract technology.

PROS:

• The use of smart contract technology enables the platform to secure the users data  hence preventing any unauthorized party form taking away the users assets
• The decentralized exchange and transactions clearing system in the platform eliminates possible fraud and single point of failure  of risks and further protects the system from external regulations
• The platform has assembled an expert management team with a diverse range of valuable skills in crypto currency, insurance operations, peer to peer technologies  led by the CEO Alex Duhamel
• The  platform enables users to hedge risks associated with crypto currency in the market place promoting them to invest in the new coins in the market
• The platform exhibits anonymity as it doesn’t ask the users for their personal data as it empowers the users to manage and trade with their own assets easily  without ant discrimination
• The platform has a simple and user friendly interface enabling the users to easily access the platform services

CONS:

• The involved platform BTF token doesn’t give the holders more incentives in the platform ownership and legal rights to of share f profits
• The user of fiat currency is not easily linked with the platform
• The supportive mobile application is missing

SUGGESTIONS:

• The platform use should equally involve the insurance of fiat currency
• The token holders should be given more incentives and rights over the project decisions
• The platform team should design a mobile application supported by android to ensure easy use of the project across the globe

NOTE:

The increasing level of block chain technology has led to increased use of crypto currency in the market place. This protect will enables the users to easy trade and exchanges different crypto currency securely, eliminating the associated risks making it vital thereby promoting me to invest in it.

Project strong sides: well-balanced team with founder’s KPMG background; really existing need in risk insurance on cryptocurrency market.

Project weak sides: no marketing plan, no business plan or detailed market analysis, not included actuary calculation engine in product.