Oxfam in Sri Lanka has announced early success with its blockchain-based microinsurance system in Sri Lanka, revealing the first successful pay-outs to local farmers. The protocol, implemented in partnership with global professional services firm Aon and blockchain startups Etherisc and InsurTech, leverages the Ethereum blockchain to finalize insurance claims with tokens. Press materials released yesterday confirm the project, which had 200 registered participants, will now begin its next phase. It’s hoped this will support small-field paddy farmers in the region as they prepare for November’s cropping season. “We are proud to have real-world, on-the-ground success from a blockchain solution for…
This story continues at The Next Web
source https://thenextweb.com/hardfork/2019/11/05/oxfam-ethereum-blockchain-microinsurance-sri-lanka-claims-payouts/
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