Smart Contracts and Insurance on the Blockchain

Introduction Smart contracts are a new and exciting area in computing science. Their application in finance, gambling, e-commerce, and automation of various tasks that are currently performed semi-manually is very promising. Smart contract are computer scripts (software) that aid in the self-execution and self-enforcement of traditional contracts. For the first time in history money or more precisely digital tokens, like bitcoin, are native to these software contracts, opening up wide areas of possibilities. Having money as a native type available to a computer program is a big deal. It allows the removal of the whole complicated layer of payment processing that current websites, apps, and other software systems have to deal with. One area that might benefit immensely from smart

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Bitcoin as Platform Innovation.

Discuss the Bitcoin ecosystem as a whole. Would you agree that it represents a case of platform innovation? If yes, what types of additional innovations do you foresee emerging on top on this ecosystem in the future? If no, what does it miss to be classified as a platform innovation? The release of Satoshi Nakamoto’s now famous paper [1] and later on the accompanying software brought us the first digital currency, and the first practical use of a new type of record keeping system called blockchain [2]. Now in its 7th year of existence the ecosystem surrounding that invention grew considerably [3]. In fact it didn’t take long for innovators to realize that other services can be built and delivered

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