/biz/ - Business & Finance

>>10959325
Do you really not see that it's just one case use among many for smart contracts-backed parametric insurance, how linking medical records and insurance policies to the blockchain could be applied to all medical policies? Do you think these firms are investing millions in blockchain research just for diabetes and flight insurance? Do you not see similar potential for companies like uber or airbnb?

>>10959433
You are severely underrating the far-reaching implications of Accord and OpenLaw, they're defining the legal standards for enterprise-grade smart contracts and already being adopted by all the top global law firms, which means all the other markets and industries will be reliant on them, if you thought the legal market by itself wasn't significant enough. A major derivatives market consortium is already working with one the Accord law firms to establish the legal aspects of smart contracts in that field. Any other market consortium and industries will also have to go through Accord firms.

I collected the gross revenues of all the law firms associated with the Accord Project. What I found blew me away.

Basically the top 100 law firms on earth collectively gross $100billion USD in revenue. The total revenue of all the Accord Project firms are about $30billion. That's like 1/3 of the revenue captured by the best law firms on earth.

WTF. Imagine the increase in profit margin by these firms using smartcontracts.... with ChainLink providing the data.... holy fuck. I can't exactly value LINK properly, but it'll be worth a lot. OpenLaw and Accord both will use LINK.

AND THIS IS JUST THE LEGAL SERVICES INDUSTRY. THINK ABOUT ALL THE OTHER INDUSTRIES THAT NEED ORACLES.