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Blockchain Developments - Insurance by eroche

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· @eroche · (edited)
$18.54
Blockchain Developments - Insurance
## Significant first steps by a mainstream Insurer...
Last week I gave a brief update about Teambrella, a start-up Blockchain company that has launched several next generation Insurance products. 

<center>
https://i.imgur.com/D17atPv.png
</center>

I was surprised to learn today, so soon after that last update, that a Global mainstream Insurer has also launched a next gen product.


## Fizzy
AXA, a well known global insurer will be offering a travel policy, named Fizzy,  based on smart contracts issued on the Ethereum Blockchain. 
There are a few striking elements to this news:
* AXA are not using a proprietary closed *"Blockchain"* platform but  are using the Ethereum Blockchain.
* The smart contract will be a legally compliant contract issued by a regulated insurer. 
* Automatic compensation will be paid based on an external global air traffic database 

<iframe width="560" height="315" src="https://www.youtube.com/embed/xJZulZ_-CMI" frameborder="0" allowfullscreen></iframe>


## A Sign of Things to Come
Blockchain tech and cryptocurrencies have already begun to affect our everyday lives. Sure Airline, Pet and Bicycle Insurance are not going to cause a revolution but it's taking us further down the road to mainstream adoption and recognition of Blockchain technology. 

---
## Related Developments

* [Teambrella Pet and Bike Insurance](https://steemit.com/blockchain/@eroche/blockchain-developments-insurance)
* [Revolut Integrates Bitcoin](https://steemit.com/beyondbitcoin/@eroche/revolut-to-integrate-bitcoin-ethereum-and-litecoin)
* [Intro to Investments and Insurance](https://steemit.com/blockchain/@eroche/blockchain-beyond-bitcoin-part-5-investments-and-insurance)

---
## Reference
* https://www.artificiallawyer.com/2017/09/19/insurance-giant-axa-launches-self-executing-smart-contracts/

---


<center>
**Thank you for reading this. I write on Steemit about Blockchain, Cryptocurrency, Travel and lots of random topics.**
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@mirzasaputra ·
Good jobs,
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@denis231 ·
I imagine in a future a job named like: Crypto broker from Wall Street XD
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@eroche ·
$1.76
How about CCO, Chief Cryptocurrency officer 😀
👍  ,
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@rt395 ·
$0.19
Is this a buy signal for Ethereum? I expect we will see these types of events multiply across other smart contract platforms too. Question is, what happens when BTC is enabled with Rootstock?
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@booster ·
<p>This post has received a 6.31 % upvote from @booster thanks to: @eroche.</p>
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@eroche · (edited)
$1.92
It could be, the more apps we see using it.

The more I think about it though, I believe ethereum has little justification for its market cap. It is surely a huge leap forward in terms of innovation but it's a tool. Apps, coins and platforms built on top of it will have value, but I am yet to be convinced of the intrinsic value of ethereum. 

It's price is largely irrelevant, you only need it to run your apps on the platform and if at any point that becomes too expensive the apps would find an alternative platform. It's value will always be a marginal frictional cost.
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@gamzeuzun ·
This is awesome!   @eroche  Love it.
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@nakamurasatoshi ·
https://s26.postimg.org/i8lp3f0vt/U5driz_URs_P98rt_Ci7vrx9_Jg_XBp_JVc_AJ.gif
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@deepweeb ·
Thanks for your work as well! Followed @eroche
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