Russian program architects and entrepreneurs Alex Paperno, Eugene Porubaev and Vlad Kravchuk devise to take a word association out of insurance. Their Teambrella, a Bitcoin-based peer-to-peer word platform, allows users to yield any other coverage for whatever they want, however they want, and though requiring any devoted intermediaries.
“Anyone who ever indispensable a payment knows that word companies are indeed not meddlesome in profitable out during all; it’s not in their advantage to assistance their customers. We intend to mislay that dispute of interest, and make word satisfactory and transparent.”
So, what is Teambrella?
In essence, Teambrella is a height that allows people to form teams that offer any other coverage. If one chairman within that group requires reimbursement, a rest of a group chips in to yield it.
Speaking to Bitcoin Magazine, Paperno explained:
“As against to a standard insurance, Teambrella group members don’t compensate a set periodical fee, though instead deposition supports into a special Bitcoin wallet. As prolonged as there are sufficient supports in this wallet, that group member is insured. Or, if there’s ‘insufficient’ supports in a wallet for full coverage, a group member is simply partly insured.”
Each Teambrella Bitcoin wallet is related to a specific group member, but