Just got the return calls from both, data recovery Gillware and my insurance company.
The drives were severe damage. All chipset affected beyond retrievable. Except one. Some may work. I will be inform by Monday noon. I contacted my insurance company to keep them update. The surprise feedback was: we will cover the HardDive recovery costs however data in the drives not. Especially Crypto currencies.....on and on explanations...
After cool down, sudden hit my mind. What if someone start an insurance business to insure anything to do with Crypto currencies? Fantastic idea isn't it? I am so sure no one has thought before.
Cheer!!!
wouldn't work, insurance rate would have to be really high or they'd lose money. Plus how do you verify claims
That's right imo too. There are so much scam claims around with real world properties. But... who knows, maybe we'll see such service. I guess, this service should be coin traffic gateway, repository as well. The insurance for failed hard drives are out of question. Such kind insurance should be for something like happened with C2.
Don't be so quick to judge.
On a personal level perhaps this would not work, but what if you offered it to business who met security and data recording standards and or the same for exchanges. Then this would work very, very well.
Just an idea in draft mode. lol. Never let the unfortunate event beaten you, turn it into inspiration.
Let says, create a policy let the new coin Dev insure with certain percentage in order to be listed. As insurance company, will provide audit the product security, infrastuture of the infant start-up coin..etc.
Insurance company then resell the accepted policy to investors to hedge against other coins or Bitcoin... Etc.
Hmmm! I am talking about create a Crypto derivative instrument to get insurance company stay afloat. lol..
Am I desperately losing my mind or what? lol