What Is Aigang (AIX)?

Aigang is an autonomous insurance platform for IoT deceives and a platform for insurance innovation built around data. The platform is usable by any insurer or manufacturer. Aigang aims to collect funds to build a fully operational platform that can develop partnerships with data suppliers, extend organizational infrastructure and promote the platform on an appropriate scale. 

According to its whitepaper, Aigang's team is building a protocol on the Ethereum blockchain that seeks to see communities, companies, and developers build their insurance modules on a decentralized platform. The platform's architecture comprises blockchain technology, Aigang protocol, and service layers. The protocol layers comprise smart contracts, and the service layer offers services such as data warehouse, risk assessment, reinsurance, and risk pooling. The service layer also manages the device data API (application programming interface) and the SDK (software development kit) for insurance development. Further, to support this overall operational structure on the platform, Aigang introduced its cryptocurrency, the AIX token.  

AIX is an ERC20 token of the Aigang network that runs on the Ethereum blockchain. AIX tokens are non-refundable functional utility tokens that token owners can use to participate in the insurance prediction markets of the Aigang network. The platform rewards users for predicting accurately with reputational benefits and additional tokens. The rewards are designed to ensure the secure, ongoing request for the limited supply of AIX tokens. The platform intends to offer rewards to users for informing them about the credibility of particular insurance markets or products. Aigang network uses a proof-of-stake/proof-of-reputation algorithm based on token ownership and an immutable reputation score stored on the blockchain. The platform intends to allow users to submit proposals for product enhancement and make PMs (prediction markets) a tool for product development. 

Aigang aims to apply generated revenue into the following areas:

60 percent for the blockchain insurance protocol development

15 percent for the security for the Aigang network

15 percent for the operations and marketing

10 percent for legal and consulting

History of Aigang (AIX)

AugustasStaras is the CEO with over ten years of experience creating, growing, and managing online businesses. Darius Devenasis, the lead software engineer, is a full-stack developer with over eight years of experience in enterprise software solutions.