Inspiration
Crowd-sourced insurances is one of the most promising use case of blockchains. However, the process of insurance claiming requires bridging the off-chain and on-chain world. Oracles based on public APIs are a promising approach to achieve this goal. We decided to focus on flight delay insurances.
What it does
Insure against flight delays.
How we built it
Used an oracle-based approach. The oracle connects to a public API returning flight data and is provided by Fraport. We provided a nice architecture overview in the presentation attached.
Challenges we ran into
Working with the external API caused some trouble at the beginning. However we managed it during the project.
Accomplishments that we're proud of
It actually works :)
What we learned
How to appropriately connect external API to the Blockchain and thus bridging the off- and on-chain world.
What's next for Blockchain based flight delay insurance application
We want to add other modes of transportation such as traffic and rail. We also want to allow more than one user to participate in one specific insurance contract. At the end, we want to make the product public so it can actually be used.
Presentation: https://docs.google.com/presentation/d/1VLeR2Xsu-VTMGGRB-Qvqnp_UOuUctVApu9uFytY1JTc/edit?usp=sharing
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