get paid when you get delayed…


It seems solving the pain points of delayed air travelers has become one of 2018’s hottest challenges. The latest brand to take it on is insurance brand AXA, via “fizzy”, it’s smart travel insurance.

Here’s how it works – “AXA’s blockchain-powered insurance plan, called Fizzy, covers travelers for delays of up to two hours or more. When customers purchase insurance using Fizzy, all details and contract agreements are recorded publicly, on the Ethereum blockchain. The contracts, which are connected to global air traffic monitoring databases, automatically trigger compensation payouts when a delay of more than two hours is recorded.”

In otherwords, you get paid (automatically) when you get delayed.

Why it’s hot:

First, it’s one of the most simple and practical, yet smart uses of blockchain and smart contracts we’ve seen yet. There’s plenty of chatter about the potential of blockchain, but considerably fewer actual things consumers can currently do that are blockchain enabled.

But more importantly, it’s a beautiful example of human-driven innovation – and not just because it helps in a situation most of us are likely all too familiar with (delayed flights, more than 150k in the last 30 days just in the US).

One of the biggest headaches with insurance can be having to make claims and waiting to be compensated. fizzy automatically knows when you should be compensated and does so “by the time your flight lands”. So, a matter of hours instead of days.

[Source]

Beer Vending Machine Uses Blockchain To Verify Age Before Dispensing Cans

Blockchain startup Civic found a creative way to show off the technology—and facilitate alcohol sales. At the fourth annual CoinDesk Consensus summit from May 14 to 16, Civic introduced a vending machine that users can grab a beer from free of charge, provided they have the Civic app handy on their phones to confirm via blockchain that they’re of legal drinking age.

You anonymously verify your age via the app to get your hoppy goodness sans human intermediary.

The idea is a one-off partnership with Anheuser-Busch, though it could be the start of additional measures in which blockchain-based technology is used to “facilitate on-demand, secure, low-cost access to identity-verification services,” as Civic’s website notes. That’s the calling card of the San Francisco-based company, which launched in 2016. Titus Capilnean, the communications and marketing director at Civic, told CoinDesk that unmanned access to casinos is another potential area where blockchain technology could come in handy. For now, though, Civic is content with giving out beers to test its prototype.

In action on Twitter

Source: PSFK

Why It’s Hot: Can I get closer to understanding what blockchain is if it’s connected to beer?