Sehr interessanter Beitrag heute wie die Blockchain den Fahrzeugbesitz verändern wird. Schaut rein!
No doubt you have heard of Blockchain as it relates to Cryptocurrencies like Bitcoin. But what is truly revolutionary about the technology lies in its simplicity. Blockchain technology in its essence is a public ledger that cannot be changed. It allows transactions to be instantly verified by both parties and all transactions are recorded in “blocks” and “chained” together. It cannot be edited or changed in any way because there is no central repository and it is therefore fraud-proof.
While we are years away from autonomous-connected-shared vehicles, we will most certainly see Blockchain enter into the car-buying and car-insuring processes. One of the biggest headaches of purchasing or leasing a car, besides negotiating with the dealer, is the financing process. In 2015, Visa partnered with DocuSign, a transaction management startup, on a project that uses Blockchain to streamline car leasing called “click, sign and drive.” Using this tool, customers would sign both the lease and an insurance policy entered in a Blockchain public ledger. With the success of this project, we could see this practice developed for car sales and registrations in the near future. Blockchain technology can be used to create Smart Contracts which, essentially eliminates intermediaries and streamlines the entire process.
Using a Smart Contract, the agreement is written into code in the Blockchain. The parties within the contract are anonymous, but the transaction is part of the public ledger. When an event happens (such as the purchase or sale of the car or an expiration of a lease) it triggers the execution of the contract’s agreement instantaneously. Because of this, regulators can then evaluate the transaction while Blockchain maintains the privacy of the parties involved.
Smart Contracts can also help insurance services charge different rates based on the insured driving locations and conditions.
Blockchain itself can help insurance companies process claims more efficiently. A Smart Contract can execute automatically at the time of an accident, providing the driver with a percentage of the claim owed and getting them back on the road while the claim can be processed in full.
LenderBot, a micro-insurance proof of concept developed by startup Stratum together with Deloitte and payment services provider Lemonway uses Blockchain technology to help people using home-sharing companies like AirBnB, Tujia, Wimdu to insure assets with a Smart Contract and Blockchain public ledger. If this is successful, they could tackle the complexity of auto insurance.