Review on MediShares by francis fernandez
decentralizing insurance contracts through blockchain technology
Having a mutual insurance policy is a necessity for many but not accessible to everyone; since the cost of hiring these is normally very high.
In this sense, blockchain technology has made it possible to develop a more affordable and fully decentralized solution, known as the Mutual DAO System. But what does this digital mutual insurance platform offer us? Let's see it next:
Creates a market without custody or intermediaries to acquire insurance services of a mutual nature
Allows free access to insurance activity through the deposit in an MDS cryptocurrency smart contract
Reduces the monopoly of large insurers and reduces the gap between ordinary individuals and insurance contracts
Does not require investment in mining pools
It allows to reduce the cost of operation and management of insurers
Allows insurers to access the decentralized securities market through the MDS token
Allows insurance agents to participate in the benefits of the network
Provides global access for any individual to non-custodial insurance services on a global scale
Offers mutual support incentives for cases of serious health conditions
Offers support incentives to athletes who perform high-risk activities as divers
It allows creating personalized insurance contracts tailored to the protection needs of each user; both to attend to health problems and to prevent fraud to personal finances
The network promotes the decrease in inflation by burning a portion of the native token.
Pros
- Creates an open market for the trade of insurance services
- Allows anyone to join the non-custodial insurance system
- Provides easy access to the platform to be an insurance agent
- It allows the reduction of costs in the contracting of insurance
Cons
- Does not show disadvantages
