So you're saying use the blockchain to store and organize the data used to assess the risk and allow people to buy the insurance directly without the brokers?
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So you're saying use the blockchain to store and organize the data used to assess the risk and allow people to buy the insurance directly without the brokers?
I think what he's saying is that blockchains running secured storage and transmission of valuable data will make many things possible without brokers or middlemen.
Broad disintermediation
but you left out the risk assessment part...Like what Ben Stiller did in Along Came Polly :)
as long as there is enough valid, available data (possibly with an Oracle sitting on top), they could certainly do risk assessments as well
Thanks for the comments everyone. This is a portion of a larger paper for the insurance industry. This particular segment is designed to get people looking at the world that they live in and understand that a great deal of activity that we have been taught to believe is necessary (like a fish has no word for water), has very little to do with the thing we are actually trying to accomplish. In many ways, the cost of maintaining this system is externalized to a POW scheme that everyone dutifully engages in but is woefully unaware of. Much as any new technology begins with the question: Suppose there are better ways to accomplish that? Anyway - that is the point of this post and the longer paper holds a more complete thesis as well as attribution to others - I would recommend that people try to read it. Otherwise, you'll be seeing more of these adapted articles on steemit shortly.