The purpose of this project is to model blockchain-based smart contracts using collaborative business process solutions. In this thesis, a collaborative business process involving mutually untrusted parties in a decentralized environment is provided. Most specifically, a process choreography for the underwriting of a train delay policy through a parametric insurance to automate claims with smart contracts is illustrated.
In this thesis, this issue is addressed by proposing modeling languages, such as the BPMN, that intuitively model the various interactions between stakeholders on blockchain. This approach is demonstrated through a decentralized insurance service, named insurtrain, which uses oracles and data for the automatic settlement of the claim when a train is delayed. The proposed model-driven methodology supports the automatic generation of smart contracts and the controlled execution of the choreography between the client and the insurer in a transparent method.
Insurtain’s value proposition is to rebuild trust and efficiency in the insurance sector. This solution aims to provide as much as clarity and customer-centricity as possible – whatever is promised will be delivered. The goal is to provide travelers with an automated train delay product that relies on reliable data and immediately proceeds with compensation.
Rocco Goldschmidt - roccogold23@gmail.com