An experiment on implementing insurance in Bitshares

[ripplexiaoshan]

I upvoted, mostly because I am interested in this experiment .. do you guys have a website?

Yes, but in Chinese http://btsabc.org/article-745-1.html.  Thanks for upvoting

[yvv]

You purchase a traffic ticket insurance by buying 1 IOU.WTX in Bitshares internal market(it cost about 2 dollar), then send 0.5 back to the accout iou.wtxdj, with your car number and driving license number in memo.

Then you can go ahead and park your car everywhere you want like a moron, a kind guy will pay a half of your tickets.

[karnal]

I upvoted, mostly because I am interested in this experiment .. do you guys have a website?

[ripplexiaoshan]

https://steemit.com/bitshares/@jademont/ann-world-s-first-traffic-ticket-insurance-is-implemented-based-on-bitshares

The whole idea is:

You purchase a traffic ticket insurance by buying 1 IOU.WTX in Bitshares internal market(it cost about 2 dollar), then send 0.5 back to the accout iou.wtxdj, with your car number and driving license number in memo. Then the insurance officially take effect, and it will last one year. It's still an experiment, currently it only covers the parking ticket.

Anytime within one year, if you violate the traffic rule and get a ticket, send the rest 0.5 IOU.WTX back, and the information about your ticket in memo to verify that you indeed get the ticket. Then we will reimburse half of the fine to your account. The average fine in China for parking ticket is about 40 dollar.

The precondition of this idea is that the traffic violation information can be searched on website easily in China, so that verification is easy.  I am not sure it is the same case in other countries.

This idea was originally inspired by alt and implemented by www.btsabc.org