Insurer Begins Accepting Cryptocurrency For Premium Payments

Michigan-based Universal Fire & Casualty Insurance Co. has started accepting cryptocurrency for premium payments. “UFCIC is uniquely propelling itself forward as a multi-line, multi-product insurer by embracing revolutionary technologies, highly-responsive distribution solutions and buyer service portals, exceptional product positioning, and advanced analytics leveraging predictive models, artificial intelligence and Big Data resources,” Timm said. UFCIC stated it is accepting a variety of cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, and Litecoin, for premium payments for direct on-line license and permit bonds and other surety bond products. Tesla had been accepting Bitcoin for automobile purchases but stopped, promising to resume when cryptocurrency miners attain 50% clean energy usage. “Early in the improvement of UFCIC’s innovation program it became evident that the use of crypto for mainstream customer insurance transactions was not a matter of if, but when,” John Lucker, the company’s chief method and analytics officer, said. While demand is growing, numerous economic firms nevertheless see cryptocurrency as risky and few insurers are willing to underwrite the dangers. Fans of the sports teams Dallas Mavericks and Miami Dolphins can use bitcoin to acquire tickets and concessions, according to BuyBitcoin. In May, spend-per-mile auto insurer Metromile announced that it would let buyers use bitcoins to buy insurance coverage or receive payments for claims, starting later this year. The payments firm PayPal and a number of major retailers like Microsoft, Home Depot, Starbucks and Whole Foods accept Bitcoin. The enterprise, which insures modest companies and presents surety bonds solutions, says the move is to improve its competitive market position as aspect of a broader innovation program. The enterprise claims its payment course of action is seamless by means of its portal with the monetary exchange handled by UFCIC’s payment processor. The insurer is not the only insurance firm letting customers use Bitcoin to obtain insurance coverage.

Google Scholar6. M. Raya and J.-P. X. Lin, X. Sun, P.-H. 1-7, San Francisco, CA, USA, August 2009. View at: Publisher Web-site

While it was meant to be an escape from enterprise, he ended up beginning a new a single within a few months of moving there. Then in 2012 his neighbour was murdered – with McAfee saying that he believed he was the target but the assassins entered the incorrect house. What does McAfee say occurred in Belize? Did Johnny Depp play McAfee in a film? He alleges in 2011 he caught wind of a government plot to kill him. Belize cops nonetheless insist he was a “person of interest” in his neighbour’s death, but he denies any involvement and accuses regional authorities of corruption. However, Wide variety reported that Michael Keaton will play McAfee in the film. In May of that year he said his jungle compound was stormed by 42 paramilitary soldiers, who shot his dog, destroyed home and arrested him on charges that have been later dropped. In March 2017 it was reported that Johnny Depp would be portraying McAfee in a film titled King of the Jungle. Depp was initial attached to the project. In response to this he improved his security and carried on verbally attacking the government. McAfee claims he recorded choices the government was considering to get rid of him, including sniper attack and planting explosives in his automobile.

Therefore, the blockchain can be viewed as a distributed immutable ledger. In this section, we describe the proposed method architecture to style a Bitcoin-primarily based secure and trusted incentive scheme for VDTNs. Moreover, the fairness to a source place server is assured by exploiting the 2-of-2 MultiSig transaction, in which the signature of the destination server is needed as effectively as vehicle’s, so that the forwarding vehicle can be allowed to devote the coins offered as incentives as soon as the automobile essentially arrives at the destination point. Anonymity of the cars participating in the communication is guaranteed by the use of Bitcoin public keys, and the autos are stimulated to aid message retailer-carry-forward from one place to a further location by paying them Bitcoin as incentives. Opportunistic networking applications on VDTNs can be characterized by store-carry-forward communications with the assist of moving automobiles in the circumstance exactly where a direct communication hyperlink is not generally doable in between supply to location.

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