Inspiration
Insurance system on blockchain will remove all middlemen.
What it does
Creates a pool of users who can join a pool and pay premium each month. If any of the users meet some mishappenings and need the claim then he can put out the proposal. Other members of the pool will vote on the proposal and if the proposal gets more positive votes then the proposal can be executed and the insurance amount will be transferred from the pool to the user. The joining fee for the pool is set at 0.1 matic, the premium amount is 1 matic and the insurance amount is 100 matic.
How we built it
The first few hours were invested in idea framing then I began with building the contract. Once I was done with all the logic, I moved towards building the front end.
Challenges we ran into
There were a few bugs in the contract which took me the most time.
Accomplishments that we're proud of
I was able to complete this in the given time frame along with the new year celebration.
What we learned
I have learned how to build things quickly
What's next for PoolSafe
Will be adding more insurance policies and a feature from where users can start there own pool.
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