A number of digital brokers calling themselves Brokers Without Insurance have been commended at an insurtech blockchain hackathon for using the cloud blockchain to develop a weather insurance platform for major outdoor events . The tool would enable attendants of events such as music festivals to hold smart cards that linked into weather APIs and the availability of Things to prevent them losing out to bad weather . The hackathon was developed by Simply Business to explore the opportunities blockchain offered the insurance industry .
A team of digital brokers calling themselves Brokers Without Insurance have been commended at an insurtech blockchain hackathon for using the ethereum blockchain to develop a weather insurance platform for major outdoor events. The tool would enable attendants of gatherings such as music festivals to hold smart contracts that linked into weather APIs and the Internet of Things to prevent them losing out to bad weather. The hackathon was organised by Simply Business to explore the opportunities blockchain offered the insurance industry.