Industry value chain applications
Project Name:
IBISA Network
A project by:
From:
Luxembourg
Company representatives:
Company intro and use case overview
IBISA means Inclusive Blockchain Risk Sharing using Space Assets. It is a decentralized marketplace that enables smallholder farmers to share crop loss risk globally, with low costs, fast assessment and payment, and no need to file a claim
Operational challenges
Technical challenges
Merging technologies as Blockchain, Satellite and Microinsurance on top of an automated claim management system
Challeneges are: 1. On-Boarding of farmers; 2. Distribution of risk 3. Payout and claims
Following Ethereum and consensys GP mainly
Outcome of using blockchain
Develop a new type of insurance adapted for low income farmers
Farmers and NGOs are starting to use IBISA with a positive feedback
At June 2019 there were around 100 Farmers onboarded from India, thanks to the first deployment