2024 ETHTaipei Demo Day - Team 11: Revolutionizing Onchain Insurance

revolutionizing onchain Insurance leveraging verifiable AI for but decentralized coverage and welcome [Music] sir this is like a pretty [Music] hi everyone uh this is H Lee and I'm with my teammate Juno J which is in New York we work like a like a Shifty uh in a time zone so um our presentation today is about our exploration on this path Revolution revolutionizing un Insurance liever aging veriable AI for automate decentralized coverage so we build an app called uh Insurance let's talk about it more later so what is insurance it's actually a fully decentralized un train D5 Insurance St so what's uh D5 Insurance D5 Insurance means uh people who don't use D5 please raise your hand don't use zero right everyone use D5 so if you use D you know you might got hacked if not got hacked and when you got hacked you get paid if you if you have ai insurance so um this is important and sometimes when dealing with def5 Insurance uh if you have already uh some experience of being hack before and you have CLA for payout something like that you might have the experience of dealing with a claim process and during a claim process you'll have someone to decide whether to pay you or not something like that yes or not what we build is to use instead of using human like a human committee now we can use a verifiable AI provided by oi AA uh to to the colage payout decision maker and yeah probably not going to be uh yeah we can be mly and this project is built on top of our protocols uh LMI infrastructure uh which is guaranteed to be open sourced authentic unable of chel model up to uput to can be uploaded to BL and also the ZK automation Network this is a network that comprises of nose that um can submit authentic unfalsifiable preprocessed unch State information to any specified function so this is how what the technology that we are using so this is the secret system structure and the F so this is insurance this is our de so with this St we enable users uh like Founders uh so say we have many Insurance terms we need to have insurance company or different user to found the terms so that the others can buy the insurance from from it right so we pull the funds the funders can depart funds for ter different terms and here's the user and user is probably like every one of us and we can we can interact this with with this contract and just purchase TS purchase insurance and get covered and when someday The Lending protocol or some other D5 protocol uh like this so say like B bro this protocol they got ha by manous user and people are crying they say yeah but probably not not you not us because we have purchased some insurance so now we have we can just lay back a bit and just wait and this thing this hack can be detected by Ora's ZK automation we have a CO a deployment in this infrastructure and then this Coe deployment can detect this ha incident and then directly automatically set uh transaction to this to insurance and then insurance will call oras L or to decide but at at the same time we will provide also the terms the terms the conditions and the blockchain status something like that all the information to the LM and thenm will decide how much to pay out for our users so this is the the flow and the structure of the of the system and then at the end we we can get get pay out and happier SM B so this is a system and so uh let me spend some time talk about why we need insurance of course maybe some of you have already seen these numbers before in crypto people people deaths are had all the time and the numbers are still increasing and only 10% got recovered these days this is a accumulated accumulated C and these are the record of last month actually February so we got three HS actually it's not only three it's actually six oh no wait nine oh here's one more so this is just from that's F so diva is actually a very dangerous place as far as from my perspective and this this a database you look at dep currently we have many EV incidents if you interested in search on it for uh information and Al this is not only for ethereum or Sol based e based blockchain is can happen even in other blockchain so yes it's no we say so we need def5 insurance to cover people's LS to cover people's LS actually nowadays we already have current St the app we already have different companies and largest one they are different tpls and largest one is called NEX in this is online so everyone can purchase influence from them and uh this is the terms from them it's like a six page pin but I'm not going to put all of them here so I just put three pages that covers all the terms all the conditions that when we want to buy it we might need to like check it out to to decide whether it covers all the necessary condition that we want to cover and when and this is the real claiming uh process if if we got if we got have and we can CL claim for our pay off and the g process first we we submit our plane and then there will be a voting process from the committee the assessment committee to assess all the plane and to do the voting thing and then the claim will be pay out or not and the last thing is the claim assessment the committee will get rewarded uh interesting thing uh you might like to know is that this committee needs to make uh States uh to to Stak F in order to join the committee for 90 days or they they'll get punished if they do something like this honest this is the current mechanism um that that's in production people are actually using it and have been paying out for really much money so to come uh what we have built um the advantages of this transparent and Powerful AI for decision making in decision in Insurance payoffs I have some advantages first is of course time saving what what about time saving it's about what we are looking at is like for dat from days from days to minutes because uh all our infrastructure about enables us to do that we can we can have minutes to make the decision and second one is the cost efficiency there's no need for human Community the expert the precious time for them to assess all all the different claims anymore um so those human resource can be safe and there's no need to provide such a reward anymore we can easily have a nom nominal fee payable payable to just a protocol for the AI usage and to get things done the third thing is we can have less bias deed making since it's AI So currently it's AI is and it's not only AI like when we are using chpt we don't really know what model is actually running of course it claims to be like gbt 3.5 or gbt 4 or like turbo or n something like that but the truth is we don't know but with blockchain technology with this oras infrastructure that we are using here we can we can have verifiable ai we will know the exact model that we are using for payout to Mak things CER and more transparent and uh when we compare to like human uh human committee we have less controversial and uh that's con shows the result because uh you will be without human advisors nor the conflicts of interest because AI have no interest right so that's St that's so this is the insurance insurance contract is a totally untrained thing so there's no frand needed to interact with this contract you can just go to the ins scan of course it's testment now you can just go to the contract and interact with it you can like right contract okay you can add your own you can add your own terms uh add insurance terms and be like stream you can CL you can buy insurance you can f different terms or do anything and for the 3K automation integration some of you might be interested in it I would like to talk about this a little bit so this is the insurance contract so DK ins DK automation thing is more like a offchain network that's powered by ZK knowledge so that all the action like information col chain are like verified fov and the feedback to the to our contract will be at here uh is that at this one uh will be also VK proof so to be get verified so it's to be correct and F proof and then this AI claim will to call the a Oracle and to request call back and to send our prompt and our terms and the condition of the blet for the AI model to detect whether they whether we are going to pay out or not so one thing in particular so the detection currently is limited by the one block detection one block State detection be from the current infrastructure uh if multipl State detection is enabled by Aura in the future we really love to see that being supported by Aura uh if that is supported the detector thing actually can be like No Limit we can do anything that we want so this is ZK automation integration next one is the oras L smart contract integration so um here I just showed you that um this AI planing is from DK automation so DK automation send the Frain status here and then this function will directly combine with the prompt and and the and the terbs and send to Ai and then AI Will C back to this function and then we just resolve the result from Ai and then to decide we approve the claiming or not um and also would like to have you look at the our experimental result so we actually done many experiment on our AI model and what I really want to show you is that the product that we are using this is like a like a typical L product we assign the AI model to like understanding this job is a decision maker and the background contact something like that and here's a general cover terms what's the general cover terms it's actually collected from adopted from Nexus mutuals real uh TS and we just put it here and direct said to like sent to Ai and to have ai decide um this condition have the AR does it Fells into the category that we need to pay out the clim so yeah I guess that will be all and thanks for your time thank you right any questions any questions two seems good thank [Applause] you