Vernam, one of the world’s first no-commission insurance service on the blockchain. The very basic objective of this blockchain is to bring a revolution to the insurance industry. Vernam is probably the first company in the world that is about to implement a high-end technological solution. Their solution will effectively lower the expenses of insurance services, whilst making it efficient and easy for the interested parties to use. Vernam is a decentralized platform, based on the blockchain technology. The purpose of this platform is to connect different stakeholders of the insurance industry, such as customers, brokers and insurance companies, who will use this blockchain technology to make all the insurance processes less expensive, more transparent and convenient. Vernam uses blockchain technology to provide: 1. A competitive digital marketplace for different conventional insurance products from various companies 2. A substantial compensation, up to -30 % of the policy premium. This amount is returned to the client as a Vernam token (VRN). 3. “CryptoSafe”, an exclusive contract guaranteeing that when a predefined group of events happen, the customer will be compensated with certain number of Vernam Tokens (VRN). Vernam uses the Ethereum platform and its Token (VRN), which is ERC-20 based. The most well defined and most innovative blockchain-based insurance product will be introduced by Vernam.