“Russia might be overlooked for many reasons, such as political and economic isolation, but  a combination of a very enthusiastic community and a supportive government could put them in the position of a serious competitor in the blockchain industry,” says Robert Wiecko, Operations Director at Dash Core Group, The developers behind Cryptocurrency Dash. (Shutterstock) 

“Our thinking is to create a blockchain platform to serve insurance companies and customers anywhere,” Mukhin says. "We plan to acquire insurance licenses in our major markets around the world and allow new insurers to operate under those licenses and competition, resulting in lower prices for consumers. It is a clear win-win situation: customers will get cheaper products, the insurance companies will lower their costs and the market will grow."

Glass Cube aims to raise up to $ 200 million from investors through a combination of project financing and crowdfunding. The funds will be used to launch a full-fledged version of the i-Series, to expand its reach, conduct a global marketing campaign, and forge partnerships with insurers around the world. They also plan to issue a utility token in the coming weeks. One utility token allows its owners to serve 1,000 customers on the i-chain. Ten codes - 10,000 customers.

According to Ernst & Young, the global InsurTech market was around $ 1.1 billion in 2016. The Russian InsurTech market has just started, only 1% of the Russian insurance market volume, which was about $ 17.7 billion in 2016. EY says the Russian InsurTech market will grow By at least 19% annually, to reach $ 4.9 billion by 2035.

Like their American counterparts, Russian startups believe they are on their way to the next better step. They all believe that their project is the 'project' that will change the market or industry.

But global-minded early entry firms need to be able to expand to compete.

Author: SBERCOIN.live