User:Marina Ula/sandbox

Crowdsurance - is the association of individuals joint into communities in order to share financial consequences of their potential risks and guarantee of compensation for unexpected losses. Such collective cooperation is based on the principles of autonomous decentralized organizations on blockchain and regulated by smart contracts. Compared to traditional insurance, crowdsurance eliminates the involvement of insurance companies, agents and brokers by making use of algorithms and blockchain driven smart contracts to analyze, scor and manage risks.

Crowdsurance appeared as a part of sharing economy in new digital era.