This is an initial look at the "new" currency Foresight. This article is simply to state facts about the currency and have an overall quick look. It's usually not the best idea to invest into any new ERC20 Tokens since there is no guarantee that it is legit. I do not promote any currencies nor do i want you to buy them. -絶死絶命
What is Foresight and what does it solve?
Despite the remarkable technology backing cryptocurrencies, cybersecurity remains one of the largest threats to the industry. According to CipherTrace, fraudulent activities and scams involving cryptocurrency reached US$4.3 billion in 2019. Of this, $3.1 billion was lost as a direct result of cryptocurrency projects who vanished with the money raised from their investors, a form of fraud known as an exit scam. While there are certainly some high profile, large volume scams which occur, there are also countless small cap exit scams which occur on a regular basis. Not only do these scams often go unpunished, but they also cause significant hardship to everyday cryptocurrency investors
Foresight is an insurance solution designed for everyday cryptocurrency investors. By combining the reliability of smart contracts with the collective intelligence of a decentralized autonomous organization (DAO), Foresight protects users from financial losses they may unwillingly suffer due to exit scams and other fraudulent cryptocurrency events.
While traditional insurance companies tend to insure the entirety of a client’s asset base for an extended period of time – often years – Foresight instead insures a user’s purchases, on a short to mid term basis.
We don’t see the need to have you pay expensive premiums to insure the lower risk coins (eg. Bitcoin) that you’re holding in secure cold storage. We trust you to look after your own cryptocurrency. We also don’t want to tie you into long insurance contracts as can happen with traditional asset insurance.
However, Foresight does want to protect its investers from negative market events, such as when:
• You are the victim of an exit scam.
• There is a malicious blockchain disruption, hack or project abandonment which renders your coins permanently irretrievable and/or worthless.
If this occurs, you should be compensated. Every satoshi of your lost investment should be returned to you. All it takes is a little Foresight.
JGN Stats and Market value:
Technology: ERC20
Total Token Supply: 100,000,000
Current Token holders: 355 (Etherscan.io)
Token Value: $0.0538 @ 0.000151 Eth (-1.25%)
Currently available on exchange: Uniswap(v2)
Token Distribution
Utility aspects include:
• Payment of insurance premiums
• Reduced premiums when paying with FORS
• Payouts of successful insurance claims
• Tribute payment for investors joining the two DAOs
• Payment / incentives for DAO members
• Enabling smart contracts which fuel the Foresight platform
Roadmap
Referral-wall
Coinpot.co (Faucet Payments):
MoonDash, MoonLiteCoin, MoonBitcoinCash, MoonBitcoin, MoonDoge
