Read on Twitter
1) Decentralized insurance real world usecase:
@Etherisc presents a fully featured travel insurance, current proposals include flighy delay, baggage loss & theft insurance. Everything will be fully automated, including instant payouts, check how it works: https://github.com/efdevcon/DIPs/blob/master/DIPs/DIP-15.md
@Etherisc presents a fully featured travel insurance, current proposals include flighy delay, baggage loss & theft insurance. Everything will be fully automated, including instant payouts, check how it works: https://github.com/efdevcon/DIPs/blob/master/DIPs/DIP-15.md
2) "After registering, people select their flight(s) and pay a small premium (about USD 10$-25$) in some stablecoin, e.g. USDC, DAI etc. Via an oracle, the risk of the flight being late is calculated."
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3) "After landing, the actual delay is determined by a second oracle call and in case of a delay, the payout is calculated and immediately transferred to the customers wallet."
The oracle will of course be by #Chainlink.
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The oracle will of course be by #Chainlink.
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4) "Claims are paid out from risk pools. Investors can provide liquidity for risk pools. Liquidity providers receive those premiums which are not used to pay out claims. To become a liquidity provider, investors need to stake $DIP (Decentralized Insurance Protocol) tokens."
5) Buy $DIP and provide liquidity for the risk pool your potential loss could be paid from, absolute win-win. That's just one of several examples how parametric insurance powered by decentralized oracles is gonna change the entire business.
6) Join the discussion and actively participate on shaping the future of #Insurtech, we're at a very early point and those who recognize it will be highly rewarded throughout the next years. #4IR $DIP $LINK https://forum.devcon.org/t/dip-15-travel-insurance/176
