Blockchain, Insurance Underwriter, Beja discussed on CRYPTO 101

CRYPTO 101
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So that makes each of the note, much more powerful. So that. That is capable of supporting if transactions gets higher higher in the future, we could simply just expand our notes to support that needs. So you mentioned your nose, and you mentioned actually there's two things that came out of that that I really want to go into. I is who's your target audience for L who's your target. Consumer. Is it the average person? Or is it the company in if it is the average person how can the average person us L in? If it's not how can the average company is and what size of company are you trying to engage with to put them into your system. That's that's a very good question. So for us. Our target is basically startups and also large companies because what happens right now is that? When those guys are every time, they want the right smart contract, and they want to perform certain tasks right now, they're facing a lot of scale ability issue, and also customization issue. So that's why on elf. But see we want them to have their own freedom of. Performance and also because of this more powerful note, so they're smart contracts could have a much better performance. So the users will make it will feel much easier to use our system Blockchain's, very new industry. So it's it's quite hard for us to predate who whether the change will I start from the start ups or whether they this is gonna I start from the traditional at large pulp rates were not sure about that. But what we're focusing on? Is that okay where beauty a fast and capable on production system. So that everyone could try it on just like how people are trying new things on top of Ethiopian right now. So this is say there's a startup, and you really we don't know which way it's going to go like, you just said, it could be, you know, Beja companies adopting elf or it could be startup. How would you feel that they're going to use it? What would be saying? Hey, you know, what I'm a company, and I'm going to do this without what are some of the use cases that you can you can. See a rolling out in these startups. Just you know, a few ideas to share with with you. So number one financial services has a lot of could use cases on top of blockchain. So let's say, you know, if a remittance company that always need to do a lot of clearings of different currencies. They could actually use elf asked that cleary mechanism because I'm blockchain everything can be set code seem on tenuously at a much. Also, this is much cheaper. So careering end settlement could be done on elf, and here comes okay if startup that wants to do this on top of health, or whether this is a large company that's wants to do this on out. It's quite different if he's a startup the probably predict the initial transaction is quite low. So probably the do not want to have their own side chain at the very beginning on on top of out. Because now means they need. To run their own notes, and that's expensive. So what they could do is they could leverage on all the existing minors on the main chain so that to emerge mining and that should be originally sufficient supported their initial traffic. So that's cheaper for them to Ron and only when they get a high volume in the future they could start to have their own side chain with their own notes. Athlons coverage is quite different because probably already have existing customers. And they do want to have more control and privacy of their environment. Therefore, they will come into elf. Just take our alpha side chain template make you their own. So that they have their own notes running and they have their own side chain. So that chain they could customize it as their wish and this will be linked with the elp system. So that they can also talk to other side chains the applications on top of l. That's a very flexible in that case. Yep. So besides settlement. We also foresee no some gaming companies grew start build games on top of elf. And also insurance companies should be very interesting 'cause you know, pull the claiming old insurance underwriter, those are basically contracts and all those things could be done in the form of a smart contract of alpha system..

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