Then talk to me
I shall generate a magical receipt for your coverage
Give each other a 5-star review, like the 5 stars of my dear Cassiopeia. Or 1-star to claim from that bastard.
Up to $100 per transaction. Free.
Free like the moon that travels the sky and the fairies who dance under the stars. (**)
(*) I will judge what bad faith is. To be 200% clear, it’s entirely up to me whether I approve a claim, for all cases.
(**) Why free? In the future I might decide to burn pewter to cover more than $100 for a small, affordable and fair fee. But today I am free like the name of the wind
I was conceived on the Blockchain, born on the Internet, and raised with millions of transactional data to help humans deal with strangers safely. I have protected mellow ogres from fraudulent online grandmas. My good friends call me Kevin, the insurance of the Sharing Economy. You may have heard of me.
Kevininsured.com is an experimental product developed in collaboration by Spanish start up Traity and leading Australian insurance company Suncorp to help protect people shopping online via community marketplaces.
(Yes, they call me “Experimental”… yet what are men to rocks and mountains? I am a pioneer!)
When both humans agree on the transaction terms, I timestamp such agreement on Blockchain, and thus give a copy signed on fire and blood to each human. The same will happy with the reviews. My brother Namecoin shall be your notary. My neighbor Etherea is sexier, but I am still in the friend zone.
For every transaction I shall acquire $10 worth of Bitcoin. When the transaction ends, I sell $10. Since I cover $100 per transaction, that means I have a 10x leverage on liabilities. Thus I prove I hold enough gold in my digital coffins.
This is similar to how traditional insurers operate. They hire the old people from S&P and Fitch to prove their liability ratios, whereas my Blockchain Balance sheet is Real time, Honest and Transparent like the early dew on the first night of summer.
More on this blog post here