Bubi Blockchain helps Zebra Club solve the regulatory pain points of the mutual insurance industry

Recently, Bubi (Beijing) Network Technology Co., Ltd. (hereinafter referred to as Bubi) and Zebra, an innovative mutual insurance platform, signed a strategic cooperation agreement in Beijing. Bubi will provide blockchain technology support to Zebra, and the Bubi blockchain will officially land in the mutual insurance field.

Mutual insurance is a form of insurance that is voluntarily organized by some people who have common requirements and face the same risks. It is a form of insurance that prepays risk loss compensation and apportionment. In today's online mutual insurance, all funds are paid directly to members who need security deposits through third-party payment channels, and all payment records can be queried. The core algorithm is to calculate the premiums paid by members every month. However, there is a fatal loophole here, a loophole that was difficult to fill in the past - cheating by system organizers, which not only restricts users' trust in the platform and hinders the development of the mutual insurance industry, but is also a difficult problem faced by Internet financial supervision.

But now this problem can be solved immediately through blockchain. Blockchain technology has the characteristics of distributed shared accounting and non-tamperability. The entire ledger is jointly maintained by the participants, which eliminates the possibility of cheating by a certain node, including the system organizer, from a technical level. For the entire industry, it can quickly establish users' trust in the platform and the industry, and promote the development of the industry and the platform.

At the same time, blockchain technology changes the transaction ledger from one center to multiple centers (also known as decentralization), improving the efficiency of trust transfer between participants, thereby reducing operating costs. For users of mutual insurance, the most intuitive feeling is that membership fees will be reduced due to lower costs.

For example, by utilizing the tamper-proof timestamp of blockchain to publicly disclose users’ insurance purchase records, it can not only resolve disputes over the exemption period, but also enhance the credibility of the platform.

Bubu Blockchain is a leading blockchain service provider in China, focusing on the innovation of blockchain technology and products. It has dozens of core patented technologies and has developed a highly scalable, high-performance and highly controllable blockchain basic service platform. It has the ability to quickly build upper-level application businesses and has been widely used in digital assets (points), equity bonds, supply chain finance, traceability and other fields.

Zebra Society is the first innovative community mutual aid protection platform in China. It not only has a good reputation and professionalism in the industry, but its business model of customizing mutual aid insurance for different vertical groups and different enterprises according to scenarios is also widely praised.

The cooperation between the two is the first implementation of Bubu Blockchain in the mutual insurance industry, and it is also a joint innovation between the blockchain industry and the mutual insurance industry. It is believed that it will bring new business model ideas to other vertical industries.