Lemonade partners with blockchain bigwigs to combat climate change
The coalition will release a decentralized application to help farmers make or receive payments using crypto. Insurance company Lemonade has partnered with prominent blockchain companies to form the Lemonade Crypto Climate Coalition (L3C) decentralized autonomous organization (DAO) to protect farmers from climate change by offering blockchain-based insurance. The insurance firm founded Lemonade Foundation, a nonprofit focused on creating social and environmental change with the use of blockchain-enabled technologies. The foundation will work closely with members of the L3C including....
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Blockchains can help to insure the world’s uninsured, but daunting challenges remain: How does one explain crop insurance to indigent farmers? A new insurance world is coming where smart contracts replace insurance documents, blockchain “oracles” supplant claim adjusters, and decentralized autonomous organizations (DAOs) take over traditional insurance carriers. Millions of poor farmers in Africa and Asia will be eligible for coverages like crop insurance too, whereas before, they were too poor and too dispersed to justify the cost of underwriting.That is the vision, anyway, on display in....
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