Blockchain Insurance Platform InChain Postpones ICO

News and Analysis

The ICO of InChain, a platform for insurance of cryptocurrency assets, was postponed for two weeks. It was initially scheduled to start October 12.

According to the team’s blog post on Medium, the decision was made due to their need of being sure that the platform meets all legal requirements, as well as to user recommendations which proved very useful, according to the authors.

In their blog post, the team wrote:

“One of the most important issues that you pointed out is the legal structure of the platform and legitimacy of its activities. In the last couple of weeks we have dived quite deep into this problem exploring different options and solutions. […] Given the complexity of the issue and a lack of examples where really thoughtful approaches have been exploited […] we have decided postponing the start of our ICO for two weeks, just to be sure that we offer and deliver the best possible way of establishing our platform from the legal point of view.”

The team stressed that interest of investors are their top priority, so they have to be sure of every detail before they start accepting money.

InChain is a decentralized blockchain-based platform providing users with insurance of risks, and investors with an option to invest in insurance bonds. The platform’s developers use Ethereum blockchain to maintain the insurance and processing of bonds with smart contracts.

Earlier this month, InChain announced its partnership with Livecoin exchange.

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