Key Stakeholders
Members: To become a Member of QolaQ’s MAP, individuals need to complete QolaQ’s registration process (e.g., KYC/AML, digital wallet connection) and hold USDC. Connection to QolaQ’s MAP enables Members to join QolaQ’s various Programs (e.g., Simple Critical Illness) and submit and receive payments for claims in times of need.
Voters: When a Member holds USDC above a certain threshold (as set by the Foundation Council), the Member should be eligible to participate in voting, with one (1) Member having one (1) vote. In the case related to claims, such voting Members may review claim scores for submitted claims and cast their vote regarding the normality and believability of the case, to determine if the claim should be paid, denied, or require additional investigation. If a claim receives a simple majority of votes in favor, it will be approved and processed for payout. In this way, the process for determining claim reimbursement is decided by the Members and is transparent. This decentralized approach, the cornerstone Web3, provides Members with direct decision-making in QolaQ’s MAP. In the future, voters may be rewarded with additional benefits, which could include USDC, for participating in voting.
Foundation: The activities of QolaQ are overseen by the Foundation Council, with the primary role to monitor QolaQ’s MAP (to help avoid bad actors), the Programs and the dynamics of QolaQ’s continuous USDC. The Foundation Council may also engage advisors with expertise in related fields -- such as actuarial, underwriting, and claims -- to enhance the overall functionality of the MAP.
Claims: Investigation and verification of materials to support claim submissions are to be conducted by Claim Scorers, if necessary. There may be multiple Claim Scorers depending on the region of QolaQ’s Programs. The output from this diligence will focus on determining a score (e.g., 1-5) , with 5 representing the best available verification) which is to be shared with Members for consideration prior to voting.
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