for A cooperation, the aid organization Oxfam and the insurer Aon with the Tech Start-up Etherisc wants to equip Sri Lankan farmers with insurance. A Blockchain-based platform is designed to offset crop failures automatically. Due to extreme weather conditions, farmers groaning on the island under difficult growing conditions. Are insured and sometimes the least of them.
By David Barkhausen
At the 2. July 2019BTC$10.466,00 -1.33%part Facebook Twitter LinkedIn xing mail
While in this country these days, the Heat wave stacks, are feeling the consequences of climate change in the global South the most. One of the hardest-hit countries of Sri Lanka. Here drought, go to the farmers due to sudden flash floods and persistent every year, a large share of their rice, tea and coffee harvest lost. Insurance, as they are for farmers in our latitudes, of course, have completed the least of all Ceylon farmers. Uncovered crop failures are on the agenda.
The Start-up Etherisc wants to change that. Together with the insurer Aon and the global aid organization Oxfam, the Swiss will announce on this Monday, the 2. July the launch of a platform for micro-insurance. As stated in a press release, will be the key to the success of Blockchain technology.
Blockchain handles insurance cases automatically from
While the insurance sector especially in the field of agriculture for a long time with major hurdles for Sri Lanka, small farmers, and about affordable insurance were long sown sparse, to make the new platform supply and processing cheaper.
By the farmers, fields, and cultivation register cultures on the platform specifically to handle the new platform in the future, cases of damage automatically. The Software brings in the case of weather events information from official Metrology authorities independently. Thus, you do not want to screw only the administration costs down, but also withdrawal procedure trusted make.
farmers represent a third of the working population and account for almost 20 percent of the economy, but very few are insured. This Sri Lanka made a perfect candidate to show the benefits of a decentralised, collaborative, and automated insurance. This partnership is really a collaboration between all of you, and shows [the Potential of] the Blockchain for the social Well-being,
Michiel Berende of Etherisc of the width of the joint project, is convinced that at present, around 200 farmers have registered. The Oxfam country Director Bojan Kolundzija agrees. He calls the Initiative an “important milestone” for the country’s economy.
With the Successful launch it is hoped that more and more farmers are on the offer carefully.
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