About Decentralized Insurance. A Blockchain Based Approach with Integrated AI
摘要
The benefits of blockchain technology, by having a transparent and a secure method for data storage and the execution of smart contracts combined with the benefits of artificial intelligence (AI), could enhance process automation. In this paper, the technical feasibility of a system architecture is investigated with an implemented model-based approach to automate the process of damage regulation. The accident-related data is stored in a smart contract. This data is then evaluated by an external blockchain oracle with an integrated neural network. The evaluation results are also stored on the blockchain where the smart contract can initiate compensation to the party deemed innocent in the incident. The duration time for the process is evaluated with an average of 16.71 s for each incident.