Do you have a dumb question that you're kind of embarrassed to ask in the main thread? Is there something you're just not sure about?
This is your opportunity to ask questions. No question too simple or too silly.
Culture war topics are accepted, and proposals for a better intro post are appreciated.
Jump in the discussion.
No email address required.
Notes -
Is there some clever way that someone could make blockchain insurance? Like, a decentralized, transparent, nonprofit system where everyone pools money (probably in the form of some cryptocurrency) together, and then when someone makes a claim there's an algorithm to decide whether it's legitimate and how much money it should pay out (possibly variable depending on how much free money is in the system due to the frequency of past claims).
Legally and practically I don't think you could do this with health insurance due to patient confidentiality issues. But maybe for auto-insurance or homeowners insurance or something? Or if there's a mechanism to anonymize medical records prior to submission. And I've pretty much handwaved away the hard part which would be deciding which claims are legitimate to prevent bad-faith exploitation. But is that solvable? And would this actually be usable if it worked? The goal would be to remove the profit motive from insurance companies taking a cut as middlemen, as well as the adversarial relationship between them and both healthcare providers and patients. I suppose a mostly traditionally run but non-profit insurance company would have some of the benefits, but even those have some potential for corruption, and I'm wondering if a transparent and user-run blockchain thing would clear that.
The main advantage of a blockchain is that it makes it extremely difficult to rewrite history. It doesn't really do anything to prevent writing lies into a new record, especially when it's about claims that require real-world evidence to verify.
More options
Context Copy link
More options
Context Copy link