take for example Tesla and its very problematic cars
to insure in usa, given its litigation cultural trait, cost annually say 10Y, whereas overseas for exactly the same car, driver, and kilometres per annum, would cost, say for example, Y, by orders of magnitude
any company insuring Tesla cars in the USA has the knowhow to insure Tesla cars anywhere, only tweaking regulatory and labour / parts differentials, and subtract out the litigation BS
and there are a lot more Teslas outside of the USA than inside
but without trusted, secure, decentralised, true-history daisy chain of happenings, and depending instead on human drones passing e-mails around, and entering and re-entering data one Excel spreadsheet - whoa! not doable
Now think if whatever the business, there are 1000Xs ex-USA to each X inside USA (so we are not talking about cars of any particular brand, and not really talking about car insurance :0), should we go for the money if all it takes is block-chaining a very familiar process and automating it all with IoT added on to, say, Teslas that also actuarialise dash cams and driving habits as recorded by on-board computers?
Even better, what if the business actually involves different Tesla cars but the same set of drivers just going from country to country checking in on their assets here there and everywhere?
The pickles and dimes, at 1000X to X, Y to 10Y, can add up fast, especially if just involving auto depositing money for the asking from exactly the very same driving customers
The proverbial money left on table
Even better than better, right now the products are not traded bu domain / coverage risk, but after block chain, can be, just token it all, with each contract traceable to a particular dash cam, and automatically extinguished when crashed or expired, to be replaced by another tranche of premium, and and and
The business that is comprised of 10Y and X now yields 16% annually in the aggregate
The business does not scale at all by 1970s technology (loss of 25% per annum if tried to scale) and is only done by littler local domestic outfits, or not done at all
The business does not scale well w/ current technologies in use, Excel spreadsheets and e-mails
Block-chain is the magic sauce
and creates an entirely new class of traceable assets that can easily yield 16% for all the piggies feeding at the teats, and be milked for 50% arrangement fees for all the watchers and do-ers, resulting in 8% return to new capital providers looking for yields
You see?
I know you do, because you noted, 'Scary'
New metaverse under construct, and the blackhole borne by such shall engulf all
Think also, for example, the example I used awhile back, tokenised equity and bond trading 24/7 without daylight in between trigger-pull and settlement. etc etc
Also, ability with proper custodial, to turn capital gains into annuity income, and to turn annuity flow into capital gain, mix and match depending of what one set of customers might want, and another might need, per tax regime shopping, etc etc
Blockchain it all!!! Just collateralised smart-contracting autonomous, decentralised, and just out there, traded, settled, and hoarded, and leveraged as only continuously-adjusting block-chained counter parties can do, at up to 200:1 per Binance, FTX etc etc
The age of fusion-powered autonomous / decentralised financial services shedding light on stone-age darkness. |
