http://vimeo.com/user24356268/review/88861284/1789918b92
Bytemaster I have to take my hat off to you. This idea could change society for the better and is even bigger than Bitshares. Bitshares is viewed by some people as just another "bank" or "get rich quick". This idea is the kind of killer app that anyone should want, peer to peer insurance or mutual benefit societies.
How will this DAC be created? Will it require investment through Angelshares or what? I think this DAC is also a killer app because people want a way to insure their Bitcoins and other things like that too after Mt Gox. Anyway I can't wait to sign up.
This is an awesome idea in theory - but would be very complex to put in to practice. I would suggest before attempting to take on car or health insurance something much simpler be attempted first to get the ball rolling. Perhaps flight cancellation insurance. Maybe simple term life insurance for a young couple starting a family (although the regulatory hurdles might be daunting.
Or are you thinking of the mutual aid society as being a very small homogeneous group where everyone is known to each other? (a church group, neighborhood benevolent society, etc)?
I intuit as being extremely difficult to start on any large scale.
That's the beauty of it. Once the code is released, let a thousand BitBlossoms bloom.
Fraternities can issue exam insurance for their members. Small-scale international traders can issue vendor or bribe insurance. Gamers can issue orc insurance.
Like Zombo.com, the only limit is your imagination.
Why can't we start with this community? We'll all join in and find out if it works in practice.
Isn't that the purpose of our community? To help develop and test these new DACs?
I think we should be bold and go straight for health insurance. We all will grow old someday and we will all need it. The other insurance we will all need is something to protect us from theft. You and I both know that theft is a major concern and will only get worse.
So if we lose some coins due to an exchange getting hacked this insurance could help.
This is an awesome idea in theory - but would be very complex to put in to practice. I would suggest before attempting to take on car or health insurance something much simpler be attempted first to get the ball rolling. Perhaps flight cancellation insurance. Maybe simple term life insurance for a young couple starting a family (although the regulatory hurdles might be daunting.
Or are you thinking of the mutual aid society as being a very small homogeneous group where everyone is known to each other? (a church group, neighborhood benevolent society, etc)?
I intuit as being extremely difficult to start on any large scale.
That's the beauty of it. Once the code is released, let a thousand BitBlossoms bloom.
Fraternities can issue exam insurance for their members. Small-scale international traders can issue vendor or bribe insurance. Gamers can issue orc insurance.
Like Zombo.com, the only limit is your imagination.
I completely agree. When I was thinking about economic allegiance systems I was thinking that this is one of the sort of things you could do. I think insurance is really just the tip of the iceberg really for the kinds of organizations you can build.
We have to start somewhere though and insurance is a great place to start.