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Technology to power mutual insurance DAOs as insurance alternatives
Takadao builds technology that enables communities to pool money together to mutually insure one another as a Decentralized Autonomous Organization (DAO), without the need for an insurance company. There are two key enabling technologies, a risk management algorithm and decentralized payout management. Both are designed to run on smart contracts to eliminate the need for a centralized party to MISmanage the funds. The blockchain ensures that the mutual protection DAO will operate exactly as agreed upon, computer code becomes law.
Use Cases
The Life DAO is a non-profit mutual protection community where members pool money together to help one another in the event of unexpected death. Members contribute to the fund, share in the risk and rewards; and have a say in governance. DAO funds are invested for a return and used for payouts in case of a member’s unfortunate demise. Surpluses of the fund are redistributed to the members. The DAO is powered by Takadao technology which manages risk and payouts via smart contracts and tokens.
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