VAIOT Presents: The Broker for Blockchain

At VAIOT, we are developing advanced Intelligent Assistants for businesses and consumers, including direct C2C transactions, supported by blockchain technology and artificial intelligence. Our Intelligent Assistants will be delivered across three business lines:

  • 🔥 Business Line 1: The Merchant — AI Sales Assistant

During the month of May, VAIOT will be delivering an in-depth introduction to our second business line: The Broker. The service will be available through the VAIOT App.

In short, The Broker is an AI-driven solution that allows for the personalized aggregation of insurance products and services through recommendations that are intelligently curated to each individual user’s needs. Insuring your tokens and digital assets will be as easy as having a conversation. The Broker platform takes offers from a wide range of service providers and produces the best package for you.

To make The Broker more easily digestible, the introductory campaign will be split into two distinctions: The Broker for Blockchain and The Broker for Business. The broker for blockchain will detail the benefits and scope of services for cryptocurrency and digital asset owners, and the Broker for Business will outline the benefits for businesses and insurance providers to integrate VAIOT as a new channel for digitally distributing their services.

With The Broker for Blockchain, VAIOT as a service distributor will offer an advanced platform for purchasing existing crypto-insurance offers through the VAIOT app. The platform will also provide discounts denominated in $VAI assets for insurance policy buyers thanks to the VAIOT Payback program, which guarantees the most affordable prices for clients as well as advanced functionalities such as the hassle-free resolution of claims.

What The Broker Aims to Solve

Historically, cryptocurrency investors, traders, and holders are exposed to risk levels higher than they may be aware of or care to admit. In the era of hacks, rug pulls, and scams, the topic may not be a fun one, but it is the single most crucial topic that all of us should be discussing. Market volatility is also a consistent risk that nobody is safe from.

Investing in crypto-assets and DeFi (Decentralized Finance) solutions do not come without its risks. Over the last few weeks, we have seen how immensely volatile the market can be, and, in most countries, crypto assets are not covered by investment regulation or protection.

Moreover, according to a report from blockchain forensics company CipherTrac and Reuters, the losses from cryptocurrency crime surged to $4.52 billion in 2019, as insider theft and hacking are still a widespread problem within the market.

A helpful solution is to invest in insurance for digital financial assets. We are seeing more and more large insurance entities exploring adding DeFi insurance to their platforms. However, gaining access to digital asset insurance is not always that simple for crypto holders.

First, acquiring insurance for crypto assets can be a difficult and intimidating process due to the limited number of service providers and lack of access to a directory to user-specific services. DeFi Insurance projects usually have limited coverage options and are often specialized, making it even more of a challenge finding a wide range of coverage from a single provider. You may need to employ the services of insurance provider ‘A’ and insurance provider ‘B’ to achieve the full scope of coverage that you need.

Furthermore, when demand surges, there is also the risk of a lack of funds locked in protocols to issue a new insurance policy when you might need it. Since there is no entity for comparing prices or coverage options between insurance providers (Until VAIOT), users often overpay and remain under-insured. It is also a costly business, as there is no way (right now) to compare the prices of insurance policies, which often leads users to overpay.

With The Broker, VAIOT is delivering an omnichannel platform where users can secure the best and most affordable insurance services for their digital assets with access to services across all the leading DeFi meaning a fully personalized insurance policy that best protects the safety of each individual portfolio.

The Broker for Blockchain

The VAIOT Broker solution brings a multichannel approach to an otherwise equivocal landscape of financial digital asset insurance. With the use of VAIOT’s Intelligent Assistant, users have 24/7/365 access to help and services and are no longer limited by the traditional service hours of providers. VAIOT’s platform provides an all-in-one solution for obtaining the right insurance. The integration of VAIOT’s Broker platform is beneficial for both its users and providers. Insurance providers gain the benefit of adding a new digital distribution channel for their services and the opportunity to deliver their services outside of operational hours, increasing revenue and saving money.

The Broker for Blockchain Functionalities

The general functionalities of the Broker for Blockchain are:

  • Insurance aggregator.

So, what would you be able to insure? The VAIOT platform will make it possible to insure crypto deposits to and from any exchange or wallet, your DeFi experience, smart contracts, funds held in exchanges, and stable coins. Further information about the use cases will be shared in a detailed article later this month.

Roll Out Phases for the Broker Platform

The Broker will be rolled out in four distinct phases:

✅ Phase 1 Plan

  • VAIOT Insurance Broker and Marketplace

✅ Phase 2 Plan

  • Claims resolution

✅ Phase 3 Plan

  • Claims resolution

Learn more about VAIOT

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VAIOT_LTD

VAIOT is combining AI & Blockchain to develop IVAs – Intelligent Virtual Assistants, for both consumers and businesses.