A decentralized perfect information insurance vehicle on an Ethereum blockchain|
Provident One provides an overall architecture and a set of Ethereum contracts that enable anyone to freely provide, consume and invest in transparent and fair insurance vehicles.
The insurance industry is stagnant: regulation makes it difficult to innovate, incentives are aligned in an inappropiate way and processes are extremely opaque. The solutions to these problems can be achieved by using a decentralized ledger and a better incentives model.
Provident One is a community effort and we hope that it helps a new wave of insurance funds emerge.