Known as a dual-layered protocol for financial assets, Pal Network continuously trailed its roadmap of success by listing its native currency PAL to KuCoin exchange market.
Deposits are now available, and all trading transactions are done using KuCoin’s official website at www.kucoin.com or by using their mobile app.
Supported trading pairs include PAL/BTC and PAL/ETH. Buying and withdrawal will commence at 20:00 UTC+8 while selling starts at 20:30 UTC+8.
About Pal Network (PAL)
PolicyPal Network’s aspect is to build the image of the digital insurance space and charge the deficit ineffective digital protection that’s main interest of the new generation of purchasers. Because of the elusive and fast-paced of cryptocurrencies, Crypto assets are invariably revealed to constantly developing intimidations such as wallet breaches and exchange hacks. It provides complete protection plans that will effectively modify the awareness of danger in the cryptocurrency space while ensuring your crypto assets. We also anticipate a digital prospect where insurance and crypto assets can still have unlimited overlay without any conflict.
The main purpose is to have the desired result where crypto asset holders are sufficiently fused to any current jeopardies and boundary of any approach for digital protection for not having enough insurance are forever decreased. The Advantages of Blockchain in Insurance is it provides an entirely different collection of developmental invasions in the insurance space beyond an extensive variety of sectors. It covers decreased transactional costs, simple methods that encourage trust between every party and improved clarity over the whole insurance journey. The principal advantages are Automated Policy Claims which is used smart contracts in the integration of advanced third party data sources and Reduction in Insurance Fraud.
PolicyPal Network Blockchain
- Powering the decentralized insurance network over different countries.
- Smart Insurance Contracts — weather condition triggers, fraud detection, pricing algorithm adjustments, claims submission and payout.
- Instant settlement and issuance of policies.
- Secured blockchain design for privacy to protect sensitive policyholder details.
Token Ecosystem
PAL Network will be the data platform where we aggregate various parties from token holders, trusted partners, insurers, insurer agents and third-party data sources into the ecosystem. The parties involved will carry out different activities to play a part in the growth of the ecosystem. In return, the parties involved will be incentivized with PAL Network Tokens for the work they have done.
PAL Network will aggregate the information of the consumers to underwrite the insurance policies, verify identity documents and process the claims payment. Third-party data sources including hospitals, clinics, index weather statistics, death registries, and various authorities will be linked to PAL Network platform to automate claims payouts for the policyholders.
PolicyPal Singapore’s existing insurance partners and insurance agents can also play a part in the ecosystem by joining as the insurance product distributors. Token holders can contribute by
suggesting new types of insurance products to be insured and assisting with the marketing of insurance policies among the community. The parties involved in helping to market and form the community can earn bonus PAL Network Tokens when the pool they helped to form has lower claim ratio as compared to the average claim ratio in the same city/state.
