/biz/ - Business & Finance

>>14709116
They'll either get copied or bought out by a giant. Now imagine an insurance giant that also has an important customer base and heavy marketing budget starts shilling parametric products and including them as part of broader policy packages; or negotiating with established business partners (example AXA Fizzy being eventually offered directly in packages from leading tourism agencies without the customer even being aware of it).

the thing that we've been seeing is that there's kind of a priority order in the adoption of data-driven dapps or externally connected smart contracts we're seeing a good amount of people you know like the folks at Dai that have on chain financial products for the crypto community because there's substantial demand for that because the crypto community is growing which is very exciting to see then after that I would say you have the teams that make on-chain financial products that aren't for the crypto community these are teams that have a background in derivatives and have recently entered the space maybe a year or two years ago and they have substantial experience in actually making very high-quality financial products and they want to make them on chain and then then you get into the more enterprise world where the banks and you know there's been a number of announcements from banks where they are using block chains for their back end and so then you see that but that is rarely announced because it's more well it's just more private it's an enterprise they have a different life cycle of how they work and put things out so I think the on-chain financial products both you know going from public for crypto, public for non crypto and private that's that's where we see a lot of adoption because there's immediately there's immediate customer demand there after that I think we see a lot in insurance insurance is a very slow moving industry partly because of the barriers to entry for people to start insurance companies but the the overall gain to insurance companies from being able to make trustworthy deterministic programmatic digital agreements with people is like industry revolutionising thing and the smart forward-looking people in that industry they understand that so I mean yeah we kind of echoed what a lot of people are saying it's on-chain financial products and then insurance is also a colossal opportunity that just moves a lot slower than other industries