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In a June 27, 2018 interview, Vasilii Rybakov described i-chain.net as a proposed blockchain-based insurance platform for insurers and customers. The interview outlines its planned marketplace, claims processes, risk pools and ICHN token sale; it does not independently verify that those features launched or that the project or token is available today.
What was i-chain?
Rybakov presented i-chain.net as a global online insurance platform built around blockchain technology. He said it would give insurers a framework for launching insurance products without having to build a platform from scratch or develop deep blockchain expertise. He called it the “Uber of insurance,” a promotional comparison rather than an independently assessed description.
In the interview, Rybakov said: “I-chain.net is a global online insurance platform based on blockchain technology which will radically change the insurance industry.” This was the project’s pitch, not evidence that it changed the industry.
What problems did the project say it would solve?
Rybakov argued that a shared platform could make it easier for insurers to offer products, compete, and handle claims, while reducing fraud. Those are claims about the platform’s intended benefits; the interview provides no measured claims results, fraud data, or independent evaluation.
He also said the insurance market exceeded $4 trillion and forecast that blockchain solutions might account for 10–15% of it “in a few years.” These were Rybakov’s estimates and forecast in 2018, not independently validated statistics.
What features and services were proposed?
The interview described intended platform functions rather than independently confirmed production services:
- Insurers publishing products for customers to browse and purchase.
- Sales and claims processes supported through the platform.
- Website and mobile channels for communication between customers and insurers.
- An insurer-facing marketplace for insurance products.
- Risk pools in which participants could invest.
The interview does not establish that these functions were operating in production or show insurer adoption, customer usage, or claims outcomes.
What technology was behind i-chain?
Rybakov described i-chain as a blockchain-connected system for insurance data and transactions. The interview does not provide enough independently verified technical detail to establish how the system was implemented, what data was recorded on-chain, or how its components worked in practice.
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What did the interview say about ICHN tokens?
The article described an ICHN utility-token sale that began May 17, 2018, with tokens offered at 0.1 ETH. It also said the project planned ICHNS security tokens for 2019 and that eligible utility-token purchasers were to receive an equal number of security tokens. These are historical statements from the interview; they do not establish current token availability or a present investment opportunity.
Rybakov used an illustrative estimate of about $5 million in licensing and software costs to organize a company serving 100,000 customers, while acknowledging that costs varied by country. From that example, the interview put an estimated ceiling of $5,000 on a utility token. That figure was part of Rybakov’s valuation argument, not a verified valuation or market price. The interview supplies no independent support for the assumptions behind the estimate.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened after the interview?
A project-authored post dated November 30, 2018, said the team had completed the first version of the platform and announced that the ICO would close on January 15, 2019. It also mentioned an online marketplace and a “mini-bank” secure-deposit product. This announcement records what the project said at that time; it does not independently verify a launch or establish that the platform continued operating.
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The available sources do not establish the project’s current operation, later performance, token availability, regulatory status, or present investment prospects. The 2018 platform and token plans should therefore be read as historical.
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Is this the same as Japan’s iChain, Inc.?
No connection is established between Rybakov’s i-chain project, which he associated with Glass Cube Ltd., and the similarly named Japanese iChain, Inc. The Japanese company describes a separate InsurTech business with different leadership and services.
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