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Application prospects of blockchain insurance

———— Release time:2020-02-14   Edit:  Read:22 ————

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The blockchain world , the real world, and the Internet world are divided into three mutually mapped and completely independent worlds. The lowest unit is the super-individual, which has initially sprouted in the Internet era and will flourish in the blockchain era.

 

A history of finance is also a history of technological change. The development of technology has profoundly affected the transformation of finance. Blockchain helps the financial industry and reshapes trust and consensus. It will profoundly affect the reform of the financial industry. As Sun Zhengyi said, digital assets are the greatest assets of humanity in the future. The future development of the financial field will be profoundly changed by blockchain technology and usher in the golden age of digital finance. Traditional finance is mainly related to financing financial services, including banks, securities, and insurance companies. The entire traditional financial building is constantly being constructed, and the financial system is gradually improving. Science and technology finance is the development of finance brought by science and technology, including Internet finance, big data credit, etc. Blockchain reshapes the value system of digital finance, and uses technology to reshape trust. Essentially, the parties to the transaction have built a perfect mathematical solution on the trust mechanism, which simplifies the trust process and reduces trust risks. It has profoundly affected financial change.

 

Ethereum pioneered the introduction of smart contracts and is an open source underlying blockchain system. Essentially Ethereum is a distributed database that permanently stores digital transaction records, a platform and a programming language that enables developers to build and publish next-generation distributed applications. Currently, there are thousands of decentralized applications on the Ethereum platform. Various developers use the developer tools and programming languages provided by Ethereum to run their own businesses on the blockchain. These businesses include voting, financial exchanges, crowdfunding, asset management and more.

 

Technology can save personal health data, accidents and other information forever. Insurance companies can obtain customer risk information in a timely and accurate manner when customers apply for insurance, thereby reducing underwriting costs and improving efficiency.

 

Financial giants and technology giants have in-depth layout in the blockchain field.Facebook , JP Morgan Chase, Goldman Sachs, Citibank, UBS, Barclays Bank, Deloitte & Touche, etc. have launched blockchain in the securities, banking, auditing and other industries. Blockchain and de-intermediation have been honored so far. Self-organization, C2b attributes, efficiency improvement, cost reduction and other features restructure traditional industries and empower the real economy and finance.

 

Above individuals, the form of communities and enterprises in the era of blockchain will also change. The biggest impact of blockchain on human society is not necessarily the technology itself, but grids and tokens, as more efficient and intelligent value carriers, to change and shape the future enterprises and organizations, then what kind of form will the future organization shaped by the blockchain be? The blockchain has closely tied the interests of all ecological participants together, creating a unified consensus, forming a wide range of collaborations, and jointly creating shared value, thereby changing the pattern of human interests under the traditional writing model and form multiple new interest communities with self-organization, self-motivation and sub-distribution. We believe that communities and corporate organizations have evolved. Groups and community communities, every community and business in the future can rely on the blockchain to start writing. Everyone spontaneously participates in the community and community through a unified consensus, the boundaries between traditional companies and enterprises are broken, and the role of enterprises is redefined. The core of creating a blockchain community is consensus. Unlike blood consensus, regional consensus, national consensus system consensus, religious consensus, etc., blockchain consensus is a means for all parties involved in the blockchain ecosystem to focus on digital tokens and achieve legitimate value. Therefore, blockchain, organizational form, transition from corporate and partnership systems to cross-regional, cross-industry, cross-market, cross-network, cross-law, cross-cultural community communities.

 

The concept of blockchain in 2008 was first proposed in the article published by Satoshi Nakamoto, a peer-to-peer electronic cash system for Bitcoin. The article mentioned that blockchain technology can be applied to many areas of financial service social life. Coin is a typical case of the first large-scale application of blockchain technology to the global network. After a long period of development, the blockchain technology has been very different from the blockchain technology referred to when Satoshi Nakamoto first proposed Bitcoin in 2008. It is not just a technology but a new economic idea, a form of economic organization and a form of economic trade.