Aigang creates a new insurance platform for our world of IoT (Internet of Things). This is an automatic insurance platform created using DAO and smart contracts. Aigang will create a world in which we do not need people to manually review insurance strategies. Instead, the expanded DAO Aigang will analyze the policy of claims and payments based on its valuation information.
What does the company/project do?
The digital insurance system Aigang is easy to use and is available on any mobile device. The application for testing Aigang capabilities is available today for iOS and Android, where the platform runs on a test network. You can cancel any Aigang contract at any time. In case of any mistake, you will receive a payment instantly without any questions, using smart contracts (written in Solidity).
The first insurance product of Aigang is insurance for the battery of your phone with the help of Ethereum blockchain. You get the registration and then receive a payment in the event of a battery failure of your device during the term of your contract.
The AIX Token is offered to investors in exchange for fiat currencies to support free reserves that will be used for payment if it is necessary. The profit will be distributed among the holders of the tokens through smart contracts. As usual, with any blockchain project, tokens will be available on stock exchanges.
Aigang Network was established in 2017 to research and develop prototypes for digital insurance, created on the basis of blockchain technology. Using data from smart contracts of battery insurance, a proof of concept for the insurance protocol and platform performance was shown. IoT data and smart devices were used to develop a working insurance product in the Testnet Ethereum environment and were implemented for iOS and Android applications.
With the help of smart contracts and a tokenized system that evaluates risk, the Aigang team creates a platform for offline insurance that any manufacturer or insurer can use, presenting the future of insurance for a new advanced technology, including unmanned aerial vehicles, mobile batteries, and autonomous vehicles.
Aigang Protocol Applications
- Aigang Platform
The Aigang platform, working on the Ethereum Testnet network, with the functioning of the DAO insurance platform, including contributions to insurance pools and a claim for compensation from insurance writing.
The web interface works and is integrated with the Metamask Ethereum wallet.
- Applications that support the concept
Using data from smart battery insurance contracts, a proof of concept for the insurance protocol and platform performance was proven. IoT data and smart devices were used to develop a working insurance product in the Testnet Ethereum environment and were implemented for iOS and Android applications.
Development of MVP v1.0. Special contracts Ethereum blockchain for managing the release of policies, risk assessment, and claims processing. To ensure the protection of all insured devices, there is a user interface. For the issuance of claims, examples of the use of software for tracking smart devices are automatically developed. Blockchain: Ethereum Testnet Status: this work is completed, and Proof-of-Concept applications can be downloaded from iOS and the Android App Store.
PoC development v2.0. Ethereum transaction blocks have been updated to provide functionality for the forecast market. The user interface allows interested parties to manage the forecast market, access data, manage their insurance portfolio. Internal infrastructure is created to collect and calculate data outside the network. In the early stages of discussions with IoT device manufacturers and data providers. Blockchain Environment: Ethereum Testnet Status: This is an unfinished work, and an early alpha version is available on the platform.aigang.network.
Stage 3 – 2018 Q1
Beta version. Release for the platform of predicted markets. The opening of the beta version of the forecast insurance platform. Blockchain Environment: Ethereum Testnet.
Stage 4 – 2018 Q3
Release v1.0. Integration of data providers. API development. Stable and functioning market forecasts. Blockchain Environment: Ethereum Mainnet.
Stage 5 – 2018 Q4
The release of version 2.0. Machine learning, real-time pricing algorithm, analytical platform, tokenized insurance risk funds.
Stage 6 – 2019 Q1
The release of version 3.0. Insurance investment OTC trading platform, development of insurance products SDK.
Stage 7 – 2019 Q2
The release of version 4.0. Fully self-contained insurance DAO.
- Useful links
Augustas has 10+ years experience in creating, growing & managing online and consumer businesses. He works in emerging digital finance industry and has co-founded peer-to-peer lending and investment platform with 15K+ users. He also helped blockchain project successfully raise 14M USD financing.
Insurance Product & Policy Manager
Reda has 10+ years of experience in various finance, digital and marketplace businesses. She previously worked as the Product manager and actuary at SEB Life Insurance, one of the biggest insurance companies in Scandinavia and Baltics. She has experience in product management, fundraising & business development.
Lead Engineer & Smart contracts developer
Darius worked as a Senior Software Engineer in Adform – a reporting platform for media agencies, trading desks, and advertisers. He is a full stack developer with over eight years experience in enterprise software solutions and is responsible for the Aigang architecture and smart contracts.
Marius is a bright, hard-working and ambitious developer with proven communication and team work skills developed while working within a software engineering development as an individual and team member. Highly energetic and takes initiative, able to multi-task effectively, and eager for new challenges.
Domantas is a developer with experience in building and maintaining web applications for major insurance companies. He is always learning and trying to improve himself in order to be able to create better solutions while being focused on both the quality of the code and the quality of the user experience.
Mindaugas is a BSc in Computer Software Engineering. He has considerable experience working on large-scale projects, having worked on the Vinted application, which has over 15 million users. He has a particular interest in and enthusiasm for iOS architecture.
Naglis is a BSc in Computing Software Engineering. As well as being a developer he’s the co-founder of ItWorks Mobile, a small app development company. Naglis has built secure and intuitive Android applications for banks and large music festivals and worked for a short time at the banking and fintech podcaster, Rebank.
Bok’s expertise includes fixed interest and derivatives in risk management and trading systems and blockchain technologies. He is working to bring decentralized trustless exchanges and traditional fiat financial instruments to the Ethereum platform. He is also an Actuary and quantitative software developer with over 28 years’ industry experience.
Niv is the co-founder of Wearable Valley, one of the largest communities in Israel working on IoT. Since 2008 he has consulted to industry on wearable technology trends and business implications. Niv lives in San Francisco and is responsible for investor relations and digital marketing at Envoy There, a closed car-sharing electric vehicles network.
Clarence is a practicing advocate and solicitor in Singapore. He has dealt with the variety of fintech start-ups on regulatory and compliance issues, as well as general corporate matters. He is well-versed with the rapidly developing regulatory environment for blockchain technology and understands the disruptive potential of this new technology.
Sale of tokens: 15 NOV – 15 DEC 2017
ICO Token Price: 1 AIX = 0.34 USD (0.00050 ETH)
The first addition to the exchanges: January 11, 2018 / Price: 1 (AIX) = 3.82 $