Review on FidentiaX by Fanuel PORPORTY
FidentiaX, the blockchain insurance market
FidentiaX is a cryptocurrency specializing in the insurance field. The latter aims to become a merchant site on which its users can buy and sell their insurance contracts. This will be made possible thanks to blockchain technology which will allow the establishment of a completely transparent platform. Access to this platform will be via a subscription in FDX tokens. The life insurance market is estimated at several billion euros. In 2016, in OECD member countries (about 40 countries), the market weighed around $ 4 trillion.
The principle of reselling life insurance is not new. It is a sector which is developing more and more but which lacks visibility since the players already in place have no interest in it. In addition, the process is more complicated than when you go through your insurer and you can quickly end up with significant costs (notaries, specialized companies ...). FidentiaX then offers a decentralized platform, in order to remove the constraints of a trusted intermediary.Partnerships with other blockchain players
Pros
- Partnerships with other blockchain players
Cons
- Barrier to entry by traditional insurance companies
- Dependent on blockchain adoption by the general public
