Smart contract-enabled insurance holds promise, but can it be scaled?
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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As the study of 'smart contracts' went from strange academic curiosity to the cutting-edge of FinTech, most market observers are still wondering just how this revolution in value transfer works. Smart contracts, for those who still don't know, are small bits of code attached to an asset, which determines where and how the underlying asset will perform based on events in the network. The promise of financial instruments that are routed through the economy autonomously, and without need for intervention by a custodian, is immense. But exactly how does such a technology work? And what makes a....
The largest digital currency asset manager in terms of assets under management (AUM), Grayscale Investments, has announced the launch of a smart contract fund that is compiled of ethereum competitors. The fund called “GSCPxE” holds seven different smart contract coins and it’s Grayscale’s 18th investment product to date. Grayscale Launches GSCPxE — Fund Holds Cardano, Solana, Avalanche, Polkadot, Polygon, Algorand, Stellar Grayscale Investments has announced another fund that covers the landscape of smart contract tokens, but leaves the largest smart....
Defi insurer Cover Protocol, designed to reduce smart contract failure risks, was exploited by a bug in its smart contract on Monday morning.
In 2021, many smart contract platforms competed for users’ attention and attempted to be the next Ethereum killer. The terms DeFi, GameFi, and NFT, have been all over the media lately, and any of these would not be possible without smart contracts. As more smart contract platforms are introduced, it becomes hard for newcomers to choose which is right for them. This article will examine some of the most popular smart contract platforms and share our hands-on experience with them. Ethereum Token: ETH TPS: 10 Ethereum is the world’s first smart contract platform. Developers create....
Smart contracts hold tremendous promise as the 'killer app' for blockchains. If you're not familiar, a smart contract is a computer program that automatically executes the terms of a contract on a blockchain. In principle, you can use smart contracts for a wide variety of purposes, such as wireless service contracts, apartment and hotel room rentals, freelance work contracts, automating payments – anyplace you'd want to cut out the middle person. With more than $17bn in assets stored in just the top 10 cryptocurrencies, there currently is a huge opportunity to give existing blockchain....