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There are probably no fundamental differences like there are no fundamental difference on transportion from a horse to a car. You just have the benefit when you
by madsbuch 4y ago
There are probably no fundamental differences like there are no fundamental difference on transportion from a horse to a car. You just have the benefit when you can drive 130kmh for hours on well maintained road infrastructure instead of riding through a forest.
- Eisenstein 4y agoThere are benefits from moving from a horse to a car. What are the benefits for moving insurance onto a blockchain?
- mopsi 4y agoI don't need to fight airlines and insurance agents for compensation when my flight gets delayed. A smart contract can unlock insurance payouts as soon as independent organizations responsible for managing air traffic verify the delay. Cutting out all the current manual labor will lower insurance premiums and offer much more trustworthy service. This is typical automation story. Replacing switchboard ladies with automated systems wasn't "fundamentally different" either, but made calling much more efficient. Government organizations are already collecting loads of machine-readable stats on things like road accidents, and it's fairly trivial to tie these sources of ground truth with automated insurance systems. There should be no reason for me to fill forms and for a lady in a expensive office building to process them, if my insurance is simple standard contract and department of transportation has a database entry stating when, why and by how much my flight was delayed. A script on AWS can process that, and free our time for more valuable or more pleasurable enterprises.
- paulgb 4y agoIf speed is the primary advantage of a car to a horse, what is the primary advantage of an insurance DAO to mutual insurance?
- madsbuch 4y agoInstant governance decisions that does not require a case worker.
- deleted 4y ago[deleted]