crushcrypto ico review etherisc (dip) · therefore, etherisc is not relying on any one particular...

ICO Review:

Etherisc (DIP)

Decentralized Insurance ProtocolJune 13, 2018

PROJECT OVERVIEW

What is Etherisc?

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• A protocol for decentralized insurance

applications with the goal to make

insurance transactions more efficient,

enable lower costs, and provide greater

transparency.

• Etherisc will be split into two major

“folds” of business. The first being a

non-profit foundation for insurance

related products and services, and the

other will be a for-profit commercial

entities, spread across jurisdictions.

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PROJECT OVERVIEW

What is Etherisc?


• The commercial entities will act as the first

movers for these decentralized products,

taking on the risk while demonstrating its

value to other companies in an effort to get

them to adopt. This will act as both a proof

of concept and a revenue tool to ensure the

continued operation and development of

Etherisc’s products and services.

• Their platform will be supported by the

protocols they develop, which will consist of

an abundance of rules, essentially, in the

form of smart contracts to ensure effective

operation.


PROJECT OVERVIEW

Potential use cases


• The platform itself will be a marketplace for these insurance products and services, where

everyone is bound by the rules of the protocols.


PROJECT OVERVIEW

Development roadmap


Sep: First version

of the Flight Delay

Dapp created

Nov: Winner of a

blockchain startup

contest in Graz

Dec: First

whitepaper on

decentralized

insurance markets

Jan: Prototype for

social insurance on

blockchain at

Blockchain Virtual

GovHack in UAE

Jun: Joined the

Enterprise

Ethereum Alliance

Nov: Sold 100+

flight-delay policies

to travelers

Technical: Stake

distribution

process; registry of

risk pools and

products

Community:

Hurricane, crypto-

wallet, payment

channel insurance

Technical:

Decentralization of

governance; reward

mechanism

Legal: Integration

with Data

Marketplace and

Identity Providers

2016 2017 2018 2019


PROJECT OVERVIEW

Flight Delay



TOKEN SALE OVERVIEW

DIP token sale summary

• Project name: Etherisc

• Token symbol: DIP

• Website: https://etherisc.com

• Hard cap: US$30M

• Conversion rate: 1 DIP = $0.1

• Max market cap at ICO (fully diluted basis): US$100M

• Bonus structure: 25% bonus for those who agree to lock up

their tokens for 1 year

• Private sale / white list: Whitelist & KYC registration is live

• ERC20 token: Yes

• Countries excluded: China, U.N. Sanctioned Countries, and

U.S. citizens unless an accredited investor

• Timeline: Crowdsale will start on June 25, 2018 at 15:00 UTC

• Token distribution date: Released immediately, unlock

date/time TBA

ICO SUMMARY


TOKEN DISTRIBUTION

30%

15%

10%

45%

Public token sale

Team & early supporters

Founders

Decentralized Insurance

Foundation

https://etherisc.com/


PROJECT OVERVIEW

Use of DIP tokens


• Used for

transactions on the

Etherisc platform.

• Companies offering

services through

Etherisc will have to

stake a certain

amount of DIP

token as collateral

in the event that

they can’t maintain

their quality of

service.


THE TEAM

Team and advisors


Christoph

Mussenbrock

Co-founder, Protocol &

Architecture

Over 20 years’ experience in

finance with his most recent being

with parIT GmbH as Managing

Director.

Stephan Karpischek

Co-founder, Ecosystem &

Community

Over 8 years’ experience in

research and business with his

most recent being with Disrupt

Consulting eG as Managing

Director.

Renat Khasanshyn

Co-Founder, Insurance

Products & Revenue

Over 20 years’ combined

experience in software

engineering, with his most recent

being as active Founder of Altoros.

Felizitas Mussenbrock-

Strauß

CFO and HR

Over 13 years’ experience in a tax

law office, with her most recent

experience being in HR.


OUR THOUGHTS

The opportunities


• The project is a protocol that allows other insurance dApps to build on top of.

Therefore, Etherisc is not relying on any one particular dApp’s success in order to be

successful.

• The project has generated a lot of development interest so far, with 1 functioning dApp

and over 20 projects being built on top of the protocol.

• Insurance is an old an inefficient industry that is ripe for disruption. The use of smart

contracts can cut out a lot of labor and improve the efficiency of an insurance business.


OUR THOUGHTS

Our concerns


• Since products built on Etherisc can offer insurance in any native currency (not

necessarily DIP token), it looks like DIP tokens do not have much utility other than

staking by teams building the dApps and oracle providers.

• Insurance companies are foreign to the use of cryptocurrency. We believe it would take

a while before industry participants to develop their own dApps.

• Insurance projects cannot be fully decentralized. There are lots of disputes and

fraudulent cases in the industry and it is hard for the resolution of which to be

completely decentralized. This may impact the demand for decentralized insurance

applications.

• The project is open-sourced but the development on GitHub has not been very active

lately.


OUR THOUGHTS

Our views

For flipping: Neutral.

• The hard cap is on the high side for a dApp protocol. At $500 ether price, the project has a hard

cap of 60,000 ether. Even though the project has been two years in the making and has a

functioning dApp, we have a neutral view on its short-term performance.

For long-term holding: Neutral.

• Insurance projects generally do not receive a high valuation. In addition, we believe DIP tokens do

not have a lot of utility other than staking by developing teams because consumers can pay in

other currencies.



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