Etherisc announced this Friday, January 21, through its Twitter account, that FlightDelay is officially available. According to the company, said launch of the Etherisc FlightDelay insurance is in conjunction with Chainlink, which allows passengers to insure their flights between the 80 main airlines in the world.
“We are proud to announce that Etherisc, the decentralized insurance protocol and ecosystem, has launched FlightDelay on the Gnosis Chain Mainnet. FlightDelay is a blockchain-based flight insurance product that uses Chainlink data feeds to autonomously issue policies and execute payments for travelers experiencing flight delays or cancellations. The result is automated flight insurance policies that are faster to settle, cheaper to provision thanks to reduced human and technical overhead, and more transparent due to its blockchain infrastructure”, he said via a blog post. article published on the Medium platform.
Christoph Mussenbrock, Etherisc Co-Founder, Protocol & Architecture, stated in a recent press release on FlightDelay that “people can easily sign up for a policy to secure their flight online, show up at the airport and get paid fairly directly. to your preferred wallet in case your flight is delayed more than 45 minutes”.
The company explained that FlightDelay is now available for passenger flights globally and between the world’s major airlines. Insurance policies can be purchased with USDC using the Gnosis Chain (formerly xDai Chain) blockchain platform on Etherisc’s FlightDelay portal, with more cryptocurrency and fiat payment options coming.
“We selected Chainlink as our preferred Oracle solution because it is the most flexible and time-tested Oracle network in the smart contract economy, already proven to help secure over $75 billion in on-chain value for leading blockchain-based projects. Chainlink enables Etherisc to access premium flight data feeds for our flight insurance solution and provides a framework for easy integration of additional data providers and Oracle nodes in the future to increase the robustness of our Oracle solution. Ultimately, this will help Etherisc scale to meet the growing demand for blockchain-based parametric insurance products”, he added.