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In this case, the smart contract aspect seems more like effective marketing rather than a technical advantage. This business could be operated identically with
by root_axis 9y ago
In this case, the smart contract aspect seems more like effective marketing rather than a technical advantage. This business could be operated identically with a centralized system.
- corford 9y agoYeah it's definitely been done more for marketing but Axa's CEO is on record as saying he thinks the blockchain and smart contracts will have a lot of valid use cases in the insurance industry. I suppose in this case the nice thing with the smart contract (assuming it works as advertised) is it's simple and verifiable. You know you'll get an instant payout if publicly available data shows your flight was delayed > 2 hours (regardless of reason). There's no human in the loop and no signed contract with weasel words that gets AXA off the hook from paying.
- fjsolwmv 9y agoHa, "insurance". This is how online bookies work today.