We can broadly distinguish three main types of applications outlined in the Ethereum white paper.
The first type is purely financial applications that provide complex financial products and solutions through smart contracts. These can include insurance, financial derivatives, escrow accounts for trade settlement, financial trusts, and crowdfunding. A good example for this type of applications comes from a company called Etherisc, which is developing insurance policies based on Ethereum smart contracts. They have a working product for flight insurance, which provides automatic premium pay-off to passengers in case of a delayed or cancelled flight. This solution brings a clear advantage to customers as they ...
