Crypto Pacitan : Inscoin ICO platform overview

Insurance is one of the oldest industries and can be seen as part of the growth of modern business, which began to define societies around the world. Although insurance in the form that we recognized today began with the first insurance contract in 1347, the methods of transferring and distributing risk in the monetary economy were observed in China in the third millennium BC. One thing that has defined the insurance sector for over a thousand years is the ability to adapt its practices to a changing technological landscape. From contracts written on parchment to websites and large data, the industry quickly changed.

Blockchain is the newest technological game changer for entering the picture, and many of them predict that distributed registers can have a profound effect on how insurance companies can work. One of the important problems that blockade technology, apparently, is intended to be solved, is the fundamental principle of "maximum conscientiousness" in insurance contracts. This principle states that each party that has concluded an insurance contract has a legal obligation to act with the standard of "honesty more than what is usually required in most commercial contracts. This means that the insurer must believe that they are being told the truth by a person who wants to take out insurance. This is different from other contracts, which are usually based on the principle of "letting the buyer beware"