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PROVER: video registrator powered by blockchain

CoinFox talked to the founder of the project PROVER on the use of blockchain in the field of auto insurance and beyond. Ilya Svirin — Prover.io cofounder

One of the key features of blockchain technology — the verification of the authenticity of the transaction.

CoinFox: What gave you the idea of the service PROVER (Prover.io)? Why is it relevant?

Ilya Svirin: Initially we planned to create a platform of auto insurance on the basis of the blockchain technology. We saw it as a service flexible management of the insurance where the client independently with accuracy to the second determines when to activate it, and when to turn it off (for example, if the car is parked in the garage). Such a system would reduce the cost of auto insurance and bring new customers to the market.

The question was how to ensure trusted communications between client and insurers, in general cases, the two sides is not even against trying to “cheat” each other.

The idea to commit the transactions on and off insurance in the blockchain was on the surface at least because it will not allow the insurance company to say: “we have a base of no information that your insurance is included”. It was much more difficult to figure out how to confirm the authenticity of videos that a customer takes on your smartphone when you turn on the insurance. Because there is a risk that the video may be captured long before, and after the occurrence of the insured event is passed through the emulator camera and issued for proof that the vehicle is still not damaged. Here appeared the idea of creating technology to confirm that the video was not filmed in advance.

Later came the understanding that technology has an independent confirmation of the value, as a lot of applications solutions can be created based on it. Their appearance over time should ensure sustainable growth in the market value of the manufactured tokens PROOF.

CoinFox: At the moment, these video reco...

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