Takadao is challenging $9.8 trillion insurance industry.
Insurance + Blockchain + Community+TRUST+Shariah Compliant = Taka+DAO.
Pretty much everything above is clear, assuming, except for Shariah Compliant aspect and why this project deserves to be in a spotlight.
But, Wait, what is Shariah Compliant?
In regular insurance, if there's a loss, the insured gets paid, but if there's no loss, the insurer keeps everything, resembling a gamble. This conflicts with conventional insurance rules, seen as gambling. However, in Shariah-compliant insurance, both sides share risks and rewards. If there's a loss, the insured is compensated, but if not, the insurer doesn't keep all payments. This follows Islamic principles AKA Shariah Compliant, avoiding gambling issues.
in other Words, Traditional insurance companies built to rip you off... (Excuse my french), see attached for more
Instead of dealing with entities Takadao formed DAO for governance and Blockchain for transparency where users practice the concept of "Takaful" contributing to a takaful DAO fund to insure one another.
More about 4 pillars of ecosystem in marketing section, in the meantime following video is quick explainer: https://www.youtube.com/watch?v=6Uac3QCgW7c
Why 5 stars? Great project, untapped niche, great partners and investors, active community, very well written white paper along with community based podcasts to educate, grow and adopt the solution. Show Less
