that previously were only provided by large corporations. By disintermediating unreliable middlemen and allowing users to interact directly and trustlessly, Web 3.0 offers enterprises and consumers alike an entirely new surface for applications that simply cannot exist on its prior iteration.
Transparency and verifiability may not seem immediately relevant, but their presence solves many problems for businesses that entrepreneurs may be unaware of. This can be applied to parametric insurance, too; when an insurable event occurs and predetermined conditions are met, a smart contract can trigger the appropriate benefit automatically. For example, a traveler who books a flight and buys flight insurance will receive an automatic payment in the event the flight is cancelled. No filling out additional forms, and no delays — a simple smart contract solution that removes the complexities of typical claims processes.
Source: News Formal (newsformal.com)
API3DAO Absolutely, we have to find ways for this new business
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