The author of this article could use a primer in what “blockchain” means before trying to explain it. This piece is littered with mistakes demonstrating a lack of expertise.
What is the group’s definition of a “smart contract insurance policy”? Is the output of the blockchain a fully executable contract/policy (meaning automatic policy premium payment to automatic claim payment)? Is it only automatic for the initial policy premium? The type of policy is not mentioned, but the description sounds like it might be a Commercial General Liability policy. I would be highly impressed if the group created a fully executable CGL, by blockchain or any other means.
The author of this article could use a primer in what “blockchain” means before trying to explain it. This piece is littered with mistakes demonstrating a lack of expertise.
Would you care to educate us on blockchain as opposed to just criticizing?
What is the group’s definition of a “smart contract insurance policy”? Is the output of the blockchain a fully executable contract/policy (meaning automatic policy premium payment to automatic claim payment)? Is it only automatic for the initial policy premium? The type of policy is not mentioned, but the description sounds like it might be a Commercial General Liability policy. I would be highly impressed if the group created a fully executable CGL, by blockchain or any other means.