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Insuring property is a good way to diversify risks so how will Novastro ensure RWAs on their marketplace are insured?
We are not going back to Web2 for insurance policies of course.
The magic here starts with Digital Twin Containers. Commonly known as DTCs, these are programmable state machines which mirror real-world assets onchain.
Novastro uses these DTCs to link real-world assets like real estate to smart contracts on Ethereum.
These twins are tied to enforceable legal agreements, so if something goes wrong, the payouts aren’t just mere promises but they are also legally binding.
So now let’s say you’ve got a skyscraper in Nairobi, the DTC keeps tabs on it and think sensors or data feeds tracks its condition, value, or even risks like damage or depreciation.
All this info now gets synced to Ethereum, where the insurance logic lives. If a loss that is insured pops up for example we have violent demos abd the property gets destroyed, the system verifies it on-chain and triggers a payout for compensation
While at it, the legal side backs it up through courts or jurisdictions.
That's just how simple it is.
The ticker is $XNL.