How KlugDossier helps improve the decision-making process through data…
Whenever it comes to making decisions in business, there’s hardly a better way than data-driven decision-making. However, the data available must be reliable and accurate, which is where the KlugDossier comes in.
Here are just two of Klugdossier’s use cases that explain how its data refining capabilities can help in better decision-making and execution of those decisions:
#1. Non-Fungible Token (NFT)
In case you don’t know, a non-fungible token or NFT is a form of a digital token stored on a blockchain to certify the ownership of a digital (or digitized) asset. NFTs can also be unique and tied to a photo, video, audio, or any other kind of property, intellectual or otherwise. The sole purpose of these tokens remains to provide unique proof of ownership to every buyer. While anyone can copy and obtain the files tied to an NFT, but the NFT can’t be stolen or obtained by someone else unless they pay for it. It’s similar to how anyone can get a pirated copy of a movie, but only some people have the authorized production (e.g., those who paid for it). People are calling it the future of fine art collections.
Now, a majority of NFTs are on Ethereum. But KlugDossier can change that, as it’s based on Polkadot. Its data refining capabilities can be used in the NFT space because it can find any digital property from any on-chain or off-chain data source based on the inputs provided by a user. Then once the correct file is found, KlugDossier lets the user review the inputs, and an NFT is generated after the user makes the payment. Otherwise, the search can be repeated with modified input criteria.
#2. Insurance industry
Another industry where KlugDossier can play an important role is insurance. Reinsurance service providers, on-demand insurance providers, micro-insurance providers, or any other kind of insurance sector players can use it for various purposes, from tracking policies to risk assessment to claim settlement. It can also be used for selling the policies to an existing consumer base. Here are some of the use cases:
- Insurance companies can easily collect and consolidate data from satellite images, weather data, drone images, and other information from social media to speed up the claim settlement process.
- All policies and their data can also be tracked through KlugDossier’s smart contracts and then fetched from the smart contracts whenever needed.
- KlugDossier can help in the risk assessment of insurance companies by collecting, consolidating, validating and analyzing data from various sources.
These are just 3 of the various ways in which insurance service providers can use KlugDossier.
In essence, this is the kind of project that every business owner may need to make data-driven decisions with the highest standards of reliability and confidentiality. KlugDossier helps in automating the decision-making process but also helps in ensuring the reliability and execution of those decisions, thanks to its blockchain-based architecture. That’s what makes this project one that every business owner is simply eager to start using!
