Socratus – Blockchain Technology For Fast And Reliable Payment For The Insurance Companies

In 2017 the cryptocurrency market saw a massive influx of optimism and popularity. After a market cap increase of over $600 billion, it was no surprise that the cryptocurrency market saw massive media coverage from financial channels, news articles, and stories of instant wealth. Apart from stories of wealth potential, cryptocurrencies gained popularity because they carried the potential for a new era, an era of true transparency and decentralization. The rise of cryptocurrency and subsequent attention brought to blockchain technology has prompted nearly every industry to evaluate the benefits of integrating the technology into their operations. One such firm at the forefront of blockchain innovation is SOCRATUS


Socratus is a complete insurance ecosystem, uniting all players under indisputable win-win rules and turns the insurance market to Fairplay. Socratus is the only platform capable of linking cryptocurrency and together with online banking all together in one platform given users the privilege to deposit assets directly from their bank to the Socratus platform. Socratus is also inclusive in business application in light of win-win rules (which simply means the transparency of the system, Instant transfer, fair and friendly price. its point is to convey the new protection condition for all biological system members naturally and make conceivable and smooth move from conventional protection. check the comparison image below to see the amazing benefit of this platform.


Socratus mission is to change the worldview of the conventional protection advertise in making ‘ Native protection’, that will predicts current hazard and deals with protection as a matter of course. Socratus Claims are paid in a split second. Their Clients feel the undetectable nearness and support of protection insurance. Insurance agencies get from Socratus mechanical foundation, information examination and bits of knowledge, white name for their advertising exercises and new items improvement.


Socratus features are something different from others which we have been experiencing, features like; Digital platform with instant claim payment products for insurance companies (white label) & fully digital insurance company for consumers, instant claim payment, fair and transparent dealing, friendly prices to mention. do you know the amazing part of this platform which I love very much is that they are innovative when it come to creativity, they don’t use that which has been created but they are developers of their own.


The emphasis ought to be on the consumers interests, win-win protection rules maxims are:

Instant claim payment,

Fair and transparent dealing,

Friendly prices

How does this function

The client purchases a policy from a business or insurance brokers. Smart-contract begins to function.

Together with the initial policy, the customer will get access and password to get their profile.

The Customer informs the Insurance Provider about an accident via his site or program

Smart-contract provides the sign to Oracle to Confirm the Crash. Oracles becomes a confirmed information supplier.

Smart-contract implements the payment. Smart-contract is shut. Don’t waste any more time and join Telegram team so it is possible to speak with us and describe any questions that you might have. Do not miss this fantastic opportunity provided by this Socratus project.

Socratus developed the WIN-WIN solution: a platform for insurance companies with instant claims payment products.


How does it work?

Customers purchase policies from companies or insurance agents. Smart contract started working.

With the first policy, the client gets access and password to access their profile.

The Client notifies the insurer about the accident through its website or its application

Smart-contract signaled to Oracle to verify the accident. Oracles becomes a verified data provider.

In case of accident confirmation, Smart-contract sends a signal to send money to the customer.

Contract-smart runs payments. The Smart-contract is closed.

Win-win insurance powered by Smart-contracts & Socratus Oracles

No more solo human decisions to pay or not to pay

No more lingering manual claims handling procedures

SMART-CONTRACT is a program code that replaces standard agreement, issues and executes insurance policy in blockchain

ORACLE is a program code, that sends verified data to the smart-contract upon accident

Any insurance company can connect the platform to become the part of Insurance Digital Ecosystem

The platform combines into ecosystem:

Insurance company, its agents and customers

Automated block for the verification of the facts of the accidents

Block for instant claim payment

SCR has the following functionality:

For consumers and community

Additional discount and special conditions for payment of tokens

Socratus platform contributors reward tool

User loyalty management and promotion tool

For insurance companies

The means of payment for the license for using the technical product (platform) Socratus

Socratus platform is aimed to build a protocol that:

Allows Insurance companies to implement innovative insurance products with instant claim payment.

Becomes a standard in decentralized digital insurance and contains all the requirements of insurance players, and regulators.

Decentralization of the protocol will bring to a native growth of tokensturnover between ecosystem participants and overall trust.


A total of 2,000,000,000 (two billions) SCR tokens will be issued. The minimum target (softcap) for crowdsale is $5 millions. The target is $125 millions. Initial price will be set to 0,10$. If the softcap is not reached, the funds will not be able to reach by the team and all contributors will get a full refund.

Distribution of tokens

69% — Crowdsale
6% — Early participants in pre-sale
3% — Bounty
4% — Advisors & ambassadors
6% — Team & contributors
12% — Founders

Token sale raised funds allocation

Funds raised from 69% of Tokens

are used for the following purposes:

20% — IT development
30% — Marketing
30% — Insurance reserves (including legal set-up of an insurance company)
15% — Team
5% — Legal and financial support.



For more information, please visit the links i have provided below;



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Author: BrainerdPaul

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