Kevin the bot uses blockchain to offer insurance for P2P transactions with a happy ending!

Gareth Jones

February 17, 2017

https://www.passle.net/Content/Images/passle_logo-186px.png Passle https://passle.net

Gareth Jones

Have we hit peak #blockchain #insuretech? kevinsured.com is an "open blockchain balance sheet that provides micro-insurance for people carrying out P2P transactions" - with a happy ending.. watch the promo video - it's mad

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Users who agree a deal on such a site visit a dedicated Kevin website and chat with the bot, which asks for details of the transaction and then sends a unique link which the user shares with their counterparty. Kevin then checks to see if the reputations of both parties are good. If they are, it creates a transaction on blockchain to timestamp that they have agreed to the deal. The bot then automatically buys $10 worth of bitcoin. If the transaction ends well, Kevin sells $10 worth of bitcoin but if it does not and a payout is needed, $100 is added to the open balance sheet.

https://www.finextra.com/newsarticle/30146/kevin-the-bot-uses-blockchain-to-offer-insurance-for-p2p-transactions?utm_medium=twitter&utm_source=dlvr.it