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Cichain community: optimizing the insurance module with blockchain technology is not real blockchain insurance

Time : 12/06/2022 Author : 2vucoe Click : + -
        In 2018, when blockchain is burning all over the world, various blockchain industry applications have emerged, and project parties are also competing to seize the commanding height of the industry. Blockchain insurance in the financial field is booming. Does this lively scene mean that the blockchain insurance industry has become familiar? As the leader of blockchain insurance, cichain community team doesn't think so. At present, the underlying architecture of blockchain is still under construction and improvement, blockchain insurance is still in the development and growth period, and many existing blockchain insurance remain in the technical partial transformation, which is "pseudo blockchain insurance", and the real blockchain insurance is still in the future. From home to abroad, the exploration of "blockchain + insurance" has begun very early.
 
        For example, CIC of yunbao chain began to develop the insurance alliance chain as early as two years ago, for the public symmetry and sharing of blacklist information; In 2017, AXA France applied Ethereum based automatic compensation to flight delay insurance, which greatly reduced the user complaint rate and dissatisfaction. In addition, some insurance companies used the tamper proof function of blockchain distributed ledger to record customer information, Bill contracts, etc. Cichain community team believes that the previous integration projects of blockchain and insurance are mostly partial, specific and link. Pull out each module of modern insurance, and use blockchain technology and ideas to independently meet the needs of each module.
 
        In essence, this is to regard blockchain as an efficiency improvement technology rather than a revolutionary technology, which has not realized the ideal and significance of blockchain reform. In addition, practitioners also need to consider that blockchain technology is likely to make modern insurance completely unrecognizable, and many modules will disappear. It is completely meaningless to discuss the improvement and efficiency improvement of these modules that are about to disappear. Cichain community team believes that, first of all, blockchain insurance must be an ecosystem based on mathematical trust and a high consensus group. In this ecosystem, individuals exist in the form of nodes, which are connected into a consensus network, and each node can verify and prove each other.
 
        This decentralized individual connection and high trust are features that no previous insurance has. As long as insurance does not have this feature, it can be considered that this is not a real blockchain insurance. Secondly, blockchain insurance must also have the characteristics of risk self-organization and organizational autonomy. Cichain community team believes that for large traditional insurance companies, it is very difficult to break the original hierarchical management and system operation mode to carry out full organizational autonomy, which will involve the traditional enterprise structure and the rights and interests of all parties within the financial system. On the contrary, the insurance blockchain project of the flat organization has inherent advantages. Groups that are easy to reach consensus spontaneously allow communities to converge and spread rapidly in the organizational autonomy of sharing rights and interests.
 
        This innate advantage will also become more obvious with the development of the industry. In addition, blockchain insurance also needs to have intelligent features such as data insurance, algorithm insurance, algorithm actuarial, intelligent prediction, etc. To sum up, we can understand that only blockchain insurance that has completely changed the role relationship, operation basis and economic model in insurance is truly disruptive blockchain insurance. Cichain community team is also making every effort to build the world's largest blockchain insurance ecosystem, presenting a completely different future insurance form for everyone. Let's look forward to the unexpected surprises that the real insurance blockchain will bring!.
 
        Project introduction: the cloud insurance chain CIC project was launched in Singapore at the end of 2017. It is committed to building the world's largest blockchain insurance ecosystem. In the ecosystem, any individual can join decentralized autonomous organizations with similar risks equally, simply and at low cost to obtain risk protection. When an accident occurs, he can automatically obtain compensation through smart contracts. As a leader in blockchain insurance, it has developed and launched a number of blockchain insurance products and built a CIC consensus network. The project brings together a number of senior R & D members from front-line Internet companies such as Baidu and jd.com to jointly promote the development of blockchain insurance.
 
        
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