Algorand Foundation partners with Day-By-Day to support the development of decentralized insurance platform for real-world assets
The Algorand Foundation today welcomes Day By Day to the Algorand ecosystem. Day By Day has been awarded a grant to support the development and building of the world’s first decentralised insurance platform for real-world assets.
Day By Day is reimagining insurance with DeFi and NFTs. This will be the first of a kind blockchain-based insurtech platform. Their successfully released Web 2 insurance asset management platform and asset registry mobile app will connect to their Web 3 insurance DAO and take insurance to a new level of trustworthiness and transparency.
Using the Algorand blockchain, Day By Day will be able to;
- Build a decentralised insurance platform
- Build a NFT Policy Manufacturing platform
- Facilitate claims using smart contracts
- Use ALGO/DBD tokens to pay for insurance premiums and claims
- Raise and stake funds on Algo DeFi platforms and
- Integrate an Algorand Wallet into the current mobile app
The Day By Day DAO platform will consist of an insurance marketplace which will connect insurers and buyers to insure real world assets using NFTs (for policies and assets), while investors will have the opportunity to take advantage of DeFi type investing.
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