Block-Insure
Block-Insure started as a dissertation project "Exploring applications of blockchain in decentralised insurance", submitted in part of the requirements for my Computer Science BSc.
The Problem
Classic insurance fails because of monopolies, information
asymmetries, failure of competition, the principal-agent problem and others. This creates
an unequal exchange of value, which is an inefficient use of resources.
Decentralisation should reduce barriers to entry for insurance providers, improve accessibility and reduce
the occurrences of monopolistic behaviour.
The high-level aim of the project is to investigate how blockchain principles can be used
to automate and improve insurance processes and illustrate how that can be done with
a front-end system.
The Solution
I created smart contracts in Solidity to run on the Ethereum network. The contract holds instances of insurance policies, and allows a user to query the contract using Transactions. The MetaMask wallet was used to interact with smart contracts on the Rinkebey test network.
