• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

SafeShare Insurance over Blockchain for Shared Economy Businesses

Gautham by Gautham
5 years ago
in Cryptocurrency news
Reading Time: 2min read
safeshare
Advertisement

The Blockchain technology is designed to be secure by default as it stores important cryptocurrency transaction data. The information stored on blockchain is responsible for the execution of transactions and prevention of double spending. The bitcoin blockchain is built around the SHA-256 cryptographic function to secure data.

The open source nature of bitcoin technology has facilitated its adoption in sectors other than mainstream cryptocurrency. It is being used to store information other than transactions. It can be used to create irrefutable records with verifiable time stamps, which is a very important requirement for the industries and companies involved directly or indirectly in finance. Insurance is one of the industries that can benefit a lot from blockchain technology.

Insurance products have not seen many transformations since the olden days, but with the increasing usage of technology among people, the need for insurance is constantly changing. Businesses are coming up with a variety of tech-driven products and services which were never heard of in the last decade. These new-age companies are denied insurance cover for some of their products as they do not conform to the existing (outdated) insurance products. It is time for the insurance providers to adapt to the existing market and offer services relevant to the current needs instead of trying to sell the old products.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

As the insurance sector works on coming up with new, workable insurance products, the use of blockchain technology has not been overlooked. An insurance company, SafeShare has recently announced their new product- a blockchain based insurance solution for the sharing economy.

SafeShare for Shared Economy

SafeShare is a new-age insurance solutions provider based out of London, England. It is part of Cornerstone Insurance Brokers Limited. SafeShare specializes in insurance solutions for the new-age startups which are based on sharing economy. We all know about the popularity of applications like Airbnb and Uber. They are all based on the sharing economy where individuals offer services in a personal capacity, facilitated by an application or a platform.

These businesses (if you can call it) require real-time insurance coverage as and when a new client shows up and the blockchain based insurance solution being offered by SafeShare does just that. According to Alex Steinart, the blockchain technology used by SafeShare is created by Z/Yen Group using MetroGnomo open source timestamping service. It helps the company offer its insurance products to customers in real-time while maintaining a history of insured transactions.

The insurance solution offered by SafeShare over blockchain is underwritten by Lloyd’s with a 24 hours’ claims hotline. Apart from offering real-time, convenient insurance solutions, the help of bitcoin technology will also help insurance companies keep their costs low.

Vrumi, an office space sharing startup that allows people will extra rooms to share the space with those looking for an office space is currently working with SafeShare to implement the company’s blockchain based insurance offering for its customers.

Blockchain technology is helping the industries get up to speed with the technology sector, allowing them to take advantage of the new market needs and it will continue to do so.

Ref:L'USINEDIGITALE
Tags: blockchainblockchain technologycryptocurrencyinsuranceNewsProductssharing economyuber
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Gautham

Gautham

Related Posts

bitcoin and Ethereum macro beating

Economist: Ethereum and Bitcoin Look “Bullish” After Withstanding “Macro Beating”

3 hours ago
paradox

How Paradox Group Is Helping DeFi

12 hours ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Bearish Correction Pauses: Focus Remains on Dollar and Yields

15 hours ago
Cardano, ADABTC, ADAUSD, ADA, cryptocurrency

Cardano (ADA) Death Cross Spells Worries Despite Bullish “Mary” Fork

17 hours ago
oddz

Leading on-Chain Option Trading Protocol Oddz Finance Announces Its Public Distribution IDO on Polkastarter

18 hours ago
Metis, DAO

Decentralized Companies Are the New Norm and It’s the DAO Revolution That’s Making It Possible

19 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

EcoCelium is Now Live – Ready to Mark the Next Step in DeFi

March 5, 2021

MXC Exchange Commits to Integrating USDC-SPL on Solana

March 5, 2021

Gambling Exhibition Ukrainian Gaming Week 2021: A Range of Products From Exhibiting Companies, an up-to-Date Program and a Special Offer

March 5, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.