Reinventing Insurance Through Ethereum and Solidity
Below is code for a very simple smart contract that would implement about 40% of a decentralized insurance policy. The remainder of the implementation would require a user interface to allow people to subscribe, pay premiums at certain time intervals, make claims, and (especially important for decentralization) verify the claims of others. But Don't Tell Your Insurance Agent To Go Suck It Just Yet I've been following matters of cryptocurrency since early 2013, back when Bitcoin was a mere $73. At that point, I wasn't willing to bet the farm, but the idea of distributed anonymous (but yet fully transparent and public) transaction ledgers for the sake of auditability and traceability was alluring, especially for the sake of tracking physical assets and eliminating other big giant institutions such as title companies. I ended up placing in a company hackathon in 2015 (and then getting invited to a subsequent, and very exclusive, company hackathon to further refine th...