https://github.com/ethTaipei2024/insORAnce

https://github.com/ethTaipei2024/insORAnce

Last synced: about 2 months ago
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• Host: GitHub
• URL: https://github.com/ethTaipei2024/insORAnce
• Owner: ethTaipei2024
• Created: 2024-03-22T19:31:45.000Z (6 months ago)
• Default Branch: main
• Last Pushed: 2024-03-24T04:08:25.000Z (6 months ago)
• Last Synced: 2024-07-31T08:37:58.325Z (about 2 months ago)
• Language: Solidity
• Size: 121 KB
• Stars: 0
• Watchers: 0
• Forks: 1
• Open Issues: 0
• Metadata Files:
  • Readme: README.md

Awesome Lists containing this project

• awesome-ora - InsORAnce - made template / rule). Actually, the truth and pre-made rule can also be: any onchain events (og wallet moves ETH), and even offchain event. So that the InsORAnce idea can be expanded to insurance for anything onchain + offchain. (💡 Project Ideas / AI Oracle Ideas)

README

        
# Revolutionizing Onchain Insurance with Verifiable AI

## Introduction

In the evolving landscape of Decentralized Finance (DeFi), the assurance of asset protection remains paramount. Our initiative aims to tackle the vulnerabilities inherent to DeFi platforms by introducing an innovative insurance model that guarantees fairness, transparency, and efficiency.

## Problem Statement

DeFi insurance is vital for customer protection. Current claim processes are inherently flawed due to reliance on insurer discretion, often leading to unjust claim denials [1]. Moreover, conventional methods entail protracted and complex evaluations to verify policy compliance [2], culminating in:

1. Time-consuming adjudication

2. Disputes arising from unclear policy terms

## The Solution

Our proposed solution is an on-chain, decentralized insurance framework that utilizes a verifiable AI [3] to interpret insurance terms and evaluate claims. This system is underpinned by Zero-Knowledge (ZK) proofs through zkAutomation [4], facilitating a process that is not only efficient but also inherently fair and free from biased interpretations.

## How It Works

By incorporating @OraProtocol's cutting-edge technologies, we craft a DeFi insurance mechanism that operates with unprecedented transparency. The system harnesses the power of AI to process claims, with decisions backed by ZK-verified data. This removes ambiguity and expedites the claim process, ensuring rightful payouts without the need for human intervention.

## Conclusion

This platform redefines the claim arbitration process in DeFi Insurance. With our solution, we establish a new paradigm for claim settlements that is trustless and automated, yet transparent and accountable to the policy terms agreed upon by all parties.

## References

1. [DeFi Insurance: Managing Risks of Digital Assets](https://neptunemutual.com/blog/defi-insurance-managing-risks-of-digital-assets/)

2. [Why DeFi Insurance Needs an Ethereum-Native Claims Arbitrator](https://blog.kleros.io/why-defi-insurance-needs-an-ethereum-native-claims-arbitrator/)

3. [@OraProtocol’s Verifiable LLM AI Infrastructure](https://www.ora.io/app/opml/llm) 

4. [@OraProtocol’s zkAutomation Technology](https://docs.ora.io/doc/cle-standards/zk-oracle/zkautomation)

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For more information, inquiries, or contributions, please reach out through our community channels or open an issue in this repository.