Why would a company want to pay gas fees and oracle costs to implement decentralized smart contracts? An example of which would be, if a flight gets cancelled, automatically refund the customer’s airfare. This could be easily implemented in their current tech stack. No one cares about decentralization.
Smart contracts are a meme
Mason Lewis
Nathan Moore
>green id
g-guys?
Evan Phillips
we're back to 2017 tier fud huh, I'll join then
it's just a two man team!
Camden Rodriguez
Refute him then plebbitor, you can't
Brody Ortiz
jason parser is at it again.
Jonathan Hill
can't refute, it's just a cayman islands jason parser scam bro pegged to the cup of coffee which is in the whitepaper
and even if they want to use oracles then they can just clone chainlink code, fork it and it goes to zero!
Jayden Peterson
BUT ITS TRUSTLESS CRYPTOGRAPHIC TROOOOOOOOOOOOOOOOOOOTH
Aaron Bennett
You have to sell your LINK
Hunter Brooks
He's right.
ITS OVER.
Dominic Wright
>I will pretend to be le dumb because I am actually too le dumb to refute OP.
William Young
fucking retard
it's not the decentralization
it's the eliminating of the trust needed in the insurance company (they won't slowwalk you, that they won't use their superior legal resources to get out of the contract) by using a technology that ensures that the contract WILL be executed given the inputs.
yes this is powered by decentralization but the point is the elimination of counterparty risk.
Dylan Diaz
>Why would I want to use a service with no counterparty risk when I could just stay at their mercy unless I decide to hire a lawyer and waste thousands and months of my time to sue
Truly a mystery
Jayden James
Got it, so you can’t refute shit. Most scenarios aren’t as cut and dry as “if this happens, then do that”. Hence why with my previous example, this has not been implemented because the specific circumstances of the reason behind cancellation determines whether a refund is issued or not. These circumstances are subjective and require human intervention.
Austin Turner
why would I pay for centralized insurance where some random dude gets the decision whether I get my money or not? or I have no guarantee the insurance company has enough assets to cover every customer in case of major incident? meanwhile in a smart contract insurance there are built in guarantees that don't rely on anyone's decision
that's why I bought a flight insurance for my upcoming flight on etherisc, because I know if covid22 hits and halts all flights, ill still get a payout, they won't tell me "yeah sorry we know you were insured but this is higher power so no payout ok bye"
Joseph Nelson
Why would an insurance company switch to smart contracts then? Also, customers are irrelevant as and seem to imply. They are not rational, they can’t be trusted to make rational decisions that are in their own self interest. As an example, several decades ago Burger King ran a promotion selling 1/3rd pounders to compete with McDonalds’ 1/4 pounders at the same price. Guess what? Consumers still chose the 1/4 pounders. They thought they were bigger, since 4 is greater than 3.
Ayden Brown
jesus christ... did you grow up during the internet era?
there will be disruptors, some insurance companies will move early and adopt. either have to adapt or they will go out of business
look at the type of companies early on parametric insurance:
en.wikipedia.org
these are the disruptors and early adopters
businesswire.com
Brody Baker
Average goyslope consumer =/= companies doing business with each others.
Business litigation is a bottomless pit of spendings.
Smart contracts are a win-win for everyone who doesn't cheat.
Grayson Williams
en.wikipedia.org
as you're too low iq to research or look ahead
look at this company workign with that lemonade foundation
look at smartcon last year. marsh had a speaker there
Matthew White
>Also, customers are irrelevant as and seem to imply. They are not rational, they can’t be trusted to make rational decisions that are in their own self interest
It's going to be a very obvious choice, I mean - already is. In markets where a given type of insurance is already available, the decentralized one will win because it'll be significantly cheaper (no overhead of agents, marketing, administration, profits for shareholders vs only apr of stakers in decentralized one). in markets where insurance is not available - which cover a ton of areas and billions of potential new customers - there is just no alternative, so it'll win too. absolutely 0% chance centralized insurance companies will still exist in 15 years.
Jack Bailey
>hey Stacey, who do you have your auto insurance with?
>uh, Geico
>oh wow, that’s pretty dated. Did you know that there’s a ton of new and disruptive insurance companies out there? They’re DECENTRALIZED
>uh, oooookaaaaay? I’m happy with Geico, I only pay $55 a month
>b-but Stacey, if you get lemonade insurance you’ll AUTOMATICALLY get a settlement if you get into a car crash, it uses this awesome cryptocurrency called Chainlink!
>cryptocurrency? Isn’t that something that scammers and hackers use? No thanks user, I’ll stick with Geico. I don’t want to be involved in that creepy cryptocurrency business. CREEPY and WEIRD :o
Nolan Evans
go back or don't post for 3 months and just read
you're the type of midwit that would have made the same post about THE CLOUD 10 years ago
>bbbbut companies will NEVER give up control of THEIR DATA!!!
Alexander Bennett
Very good, except it ends like this:
>uh, oooookaaaaay? I’m happy with Geico, I only pay $55 a month
>ok boomer, I pay $25 and don't have to even talk to any creeps on the phone