BITRUST aims to promote the even greater involvement of blockchain technology in our daily lives by reducing the risks associated with investments in cryptocurrency, thereby allowing new and existing projects to flourish for the benefit of the entire system. The core problem faced by potential investors when considering investing in cryptocurrency is the heightened risk of loss in value of a particular altcoin. The cryptocurrency market is growing tremendously, with over 1,380 cryptocurrencies circulating. According to The Business Insider, Initial Coin Offerings (ICOs) raised over USD3.5bn in 2017. However, the whole market suffers from a lack of transparency, limited regulatory oversight, poor due diligence of investors, and no basic form of investor protection. Consequently, the value of altcoins is not set by anyone other than the market and its participants, who engage in the process of buying and selling on exchange platforms. These extreme conditions create enormous volatility, which puts off many potential investors from purchasing currencies and, consequently, supporting the blockchain technology movement.
BITRUST offers a simple, secure and easy-to-use insurance solution for cryptocurrency enthusiasts. It enables cryptocurrency investors and day-to-day users to significantly manage risks associated with the high volatility of the cryptocurrency market.
The current market offers a variety of risk management solutions for cryptocurrency enthusiasts, limited in number, but nevertheless very sophisticated. In most cases these offerings are aimed at experienced traders (i.?e. hedge funds and trading houses), making them very complex, hard to access, and expensive for a regular cryptocurrency investor and user. Potential users of our cryptocurrency insurance platform would be able to bypass and drastically reduce the cost of applying risk management strategies in their investments through P2P interaction using smart-contract technology.
The entire industry trend is highlighting an increased pace of fresh capital injection into cryptocurrency markets, further complicating the “playing field” and the need for some reliable risk management solutions.
BITRUST is the central point where an insurer meets a trader willing to insure a certain cryptocurrency position: i.?e. to drop or raise against another cryptocurrency. It is an affordable, decentralized, easy to use, peer-to-peer cryptocurrency marketplace with a transparent self-execution based on Ethereum blockchain-leveraging smart-contract technology.