FidentiaX review

FidentiaX is a platform run on blockchain that allows for people to buy and sell insurance policies. How does it work? Well, there are both buyers and sellers for these policies. If you are looking to purchase coverage, you can browse on the FidentiaX marketplace and search for a suitable deal that meets your needs and requirements. Then you would fill out the forms with the appropriate information and make your payment on the platform. If you are selling these policies, after your sale, you are notified that the buyer has officially completed the payment and filled out the appropriate forms.

The sellers can then approach the insurance companies to transfer policies over to their new owner; acquire the documentation and proof of transfer once the deal is done. The seller will then go back and upload the appropriate documentation to provide proof to the buyer and upon approval/confirmation on the blockchain, the funding will be released to the original owner.

This platform will provide both buyers and sellers a faster, more reliable way of buying and selling insurance policies. By using blockchain technology, they are taking practices and ideas that have been done and been around for a while to a whole new level. Also, by integrating cryptocurrency into the equation of coverage, it will really add an interesting dimension to the somewhat monotonous field. FidentiaX will also have its own currency with the ticker fdX.

Goals

They solve many problems just by implementing this system on the blockchain technology. It is amazing how blockchain has the power to completely revolutionize ordinary businesses. There are many business practices that have been around for years using conventional methods that are often tiring and quite frankly, obsolete. By utilizing blockchain technology for their insurance policy marketplace, FidentiaX is opening many doors and when people begin using their platform, they will begin to see how much easier it is for them to find the appropriate deal.

They can shop from one place and have everything handled like a one stop shop. It also benefits the sellers because now they don’t have to go out and track down customers. They can simply make their listings for policies they are looking to sell and the buyers will be able browse and pick from which category or particular policy suits them best. I am sure they will develop many tools and neat futures to simplify this process as well.

Team

The team has two co-founders and their names are Alvin Ang and Douglas Goh. Alvin Ang is well-rounded and well-equipped for this particular project with experience in the financial systems, insurance, and the technology side as well. That is all this project needs is a leader that understands and has experience in all those industries and can tie them together in one grand project. Douglas Goh on the other hand, makes a great leader as well with over fifteen years of experience in banking all over the world. It seems he has traveled a lot and has certainly adopted a global point of view to see the bigger picture. Douglas Goh has the organizational and structural skills to make this company run on point.

The team is looking well-equipped, as I mentioned earlier. They have two architects on the team, along 3 skilled blockchain developers. For the aspects of investments and compliance, they have two advisors on their team.

Some of their partners include: BlockchainZoo, Cynopsis Solutions, Seguro Private Wealth, Arlo Associates, and several others with many more to join.

Medias

FidentiaX has quite a substantial amount of coverage from great media sources like Yahoo! Finance, CoinTelegraph, Bitcoiner.today and many other reputable sources. Their social media presence is primarily on Facebook, Twitter, Instagram and Telegram. They have quite a small following at the moment with about 1,500 likes on their Facebook fan page and about 2,200 Twitter followers. Judging by their WhitePaper, the team, and how they deliver this project, I imagine their following and community to grow pretty quickly once they find out about FidentiaX.

Bounty Program

Like most ICOs and crypto projects now, they offered a bounty program on Bitcointalk. Their bounty program covered translations for the WhitePaper, social media posts and more. There were also rewards and bounties given to the Bitcointalk users based on their ranking on the forum. This is pretty standard for all crypto projects now, whether big or small. Their ann thread takes forever to load because they uploaded a huge image instead of small banners with text. It’s unclear when their bounty program ends or has ended, but their ICO sale ends on December 5th.

Roadmap

The idea first started in May 2016 and then in August of that year, they began to actually develop it into a business. In November 2016, they started to form the members of their core team. In February of 2017, FidentiaX really began to pick up interest as they got feedback from their market research and were also learning from the best in the industry. In May 2017, they came up with their concept of the marketplace for insurance policies. In August 2017, they got all of their documentation and legal work up to par, along with preparing their plan to layout for their WhitePaper. In October 2017, they first announced their ICO crowd sale and in November they launched their public sale.

In February of 2018, FidentiaX plans to launch their marketplace. In June 2018, they will launch their portfolio model. In September of 2018, it seems they will be ready to run their marketplace at max capacity, running solely off blockchain.

From 2019-2022, they are looking to partner with some of the best insurance companies in the world that are willing and ready to upgrade to the FidentiaX Marketplace as a means of selling insurance policies.

In 2023 and going onward, FidentiaX is looking to be the number 1 in their field of blockchain-driven insurance policies.

Security

Security is an incredibly important matter, especially when it comes to insurance. People give all of their data, essentially to fill out the forms. They provide so much information like their full name, address, date of birth, social security number, and so much information that it would make it very easy for someone to take that and pretend to be them. Some of their partners like Cynopsis Solutions should tell you immediately how serious security already is on their list.

Pros and Cons

Pros:

  • Fast, reliable way to buy/sell insurance policies
  • WhitePaper is incredibly detailed and well-organized to provide you with their in-depth plans
  • Roadmap shows you their plans all the way up until 2023
  • Unique idea implementing an insurance policy marketplace on blockchain

Cons:

  • Their social media presence and following is quite small at the moment
  • There is no current platform up and running
  • Roadmap is very vague and doesn’t give much detail
  • BitcoinTalk Ann Thread setup poorly with large images taking forever to load and see the project’s specs

Overall Analysis of FidentiaX

FidentiaX looks to be a successful project with a great team. They have already reached their goal of 100,000,000 fdX tokens to be sold for the ICO stage and raised over $1.2 Million USD. It looks as if they are well on their way to achieving their goals, building this platform/marketplace and becoming the best in the field. They have great media coverage now, they really just need some more support from the community to help spread the word and it is hopefully onwards and upwards for FidentiaX.

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