What:
Etherisc has launched FlightDelay, a blockchain-based flight insurance that automatically issues policies and processes payouts for travelers who experience flight delays or cancellations using Chainlink Data Feeds.
Why:
To provide automated flight insurance policies that are quicker to settle, cheaper to provision with a reduction in human and technical overhead, and more transparent with a blockchain infrastructure backend.
How:
- FlightDelay’s insurance policies can be purchased with USDC using the blockchain platform Gnosis Chain (formerly xDai Chain) on Etherisc’s FlightDelay portal.
- Through Chainlink oracles, Etherisc will have secure and reliable access to the necessary data to run the flight insurance application end-to-end.
- Chainlink Data Feeds are also decentralized at the data source and oracle network levels, eliminating any central point of failure in the sourcing and delivery of external data to Etherisc.