Flight delays insurance on blockchain from AXA

in cashaa •  7 years ago 

The product for insurance of flight delays on smart contracts Ethereum was launched by a French insurance giant with a capitalization of € 61 billion AXA. A product called Fizzy involves payment of insurance and automatic payments in case the flight is delayed for more than two hours. Service is managed by a smart contract with rules that do not assume compensation for all damage, but payment in the event that a certain condition is met. For now Fizzy customers will receive compensation in a fiat money. Payments in the cryptocurrency are planned, but there are certain difficulties in the legal, regulatory and accounting sense.

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