Blockchain technology serves many purposes these days. Some companies, such as ZeusShield, try to combine blockchain with artificial intelligence. It is an intriguing business model, although one has to wonder how useful such a venture can be. In the case of ZeusShield, it seems the company wants to focus on the insurance industry first and foremost.
The Concept of ZeusShield
It is evident the ZeusShield team is taking a very different approach when it comes to blockchain technology. By focusing on artificial intelligence and the insurance industry, the project will apply trust management to insurance services. This will allow for the creation of a brand-new insurance ecosystem, with a strong focus on precision marketing and intelligent insurance claims.
How Does it all Work?
There are a few different aspects to ZeusShield to take into account. First of all, the project offers a digital identity solution which is built into the ZeusShield blockchain directly. This information cannot be altered in any way, as the technology provides an immutable source of information. This identity will also be used for all smart contract technology integration, which is a big part of this AI-driven insurance ecosystem.
With its blockchain-based AI approach, ZeusShield also aims to introduce accurate forms of risk monitoring, pricing schemes, and personalized policies for all customers. Additionally, ZeusShield will help cut business costs and provide intelligent insurance packages at affordable prices. It is a big undertaking, and we will have to wait and see how all of this plays out in the long run. Building a new insurance ecosystem from the ground up is always a big challenge, for obvious reasons.
The ZeusShield Cryptocurrency
As has become customary in the world of blockchain technology, ZeusShield has its own cryptocurrency. Known as ZSC, this currency will power all transactions taking place on the network and will be the backbone for all insurance-related activities provided through this ecosystem. There is still plenty of work to be done before this project can make its mark on the industry.
The Road Ahead
As of right now, the ZeusShield team is working on completing its smart contract technology. Later this year, a prototype of the insurance system will be showcased, followed by the deep learning module. Next year, we will see the completion of the ZSC blockchain P2P insurance business module, which will mark a big milestone for this project.