As the internet grows, so does the IoT in ecosystems, it needs to grow too. Aigang is a blockchain protocol that provides insurance for the IoT through smart contracts and decentralized autonomous organizations (DAO). The system is easy to use, which means you can download it the way you download other apps from the internet. The Aigang app is available on Google App Store and Apple store for iOS and Android devices. The Aigang protocol aims to build the DAO insurance protocol to enable companies, community, and developers build insurance prediction markets. It also was not to make they can provide insurance products themselves using the infrastructure.
How does it work?
After downloading the app, it is easier for you to access the services and products. The insurance platform is built using smart contracts which make up the foundation of the ecosystem. Smart contracts make insurance possible without the need of any intermediaries, people can get insured at any time, even if they are still investing in insurance. The core feature of Aignang is to ensure your phone’s battery.
Aigang calculates P&L and release instantly once anything is insured as DAO. The blockchain technology updates capital positions in traditional insurance. The profit is released from the reserves and transferred to free reserves at the end of the accounting period.
Aigang has a smart policy that aims to form the basis of the DAO and govern the operation of DAO. The smart policy automatically performs crucial operations that include handling claims, using new policies and distributing profits.
Digital insurance for IoT
Your phone’s battery is one of the products that Aging insures, the protocol is planning to make insurance available for IoT, which include other smart devices.
Get payouts instantly
Once your battery gets damaged, you don’t need to wait for days or hours before it is replaced. You will instantly receive a payment for your new battery through Aignang.
Who is behind Aigang?
Key members behind Aigang includes Aidas Ignatavius, Lukas Kairys, Reda Markeviciute, Darius Devenas, Augustas Staras and Naglis Zemaitis. The company is based in Lithuania. The network was formed in 2017 to help in the research and development of prototypes for the digital insurance.
Aigang is creating a platform for IoT world. It’s an automated insurance platform powered by the blockchain technology. It is build using smart contracts and DAO. Dao analyzed claims and charge policies based on its assessed information.