What it does
Our product focuses on the insurance side of a car sharing market place.
There are many challenges in this area that can be fixed by instant and trustworthy insurance agreements between both parties using smart contracts. The driver, the car and the insurance company will communicate with this element, which acts as a third party without being a real entity, with which cannot be tampered.
This way the real parties do not need to trust each other, everything is settled prior to the execution of the contract and runs the instructions itself without anybody interfering in the payments.
Furthermore, this smart contract can be seen as a register of the driver’s performance, depending on which insurance companies can adjust the most fitting fees for their clients.