by Siddhartha Jha
Sid Jha, CEO of Arbol, discusses how Arbol works for farmers and insurers.
Arbol provides a framework where smart contracts can be set up between bilateral parties between any of these two parties. The smart contract reads the public weather data and makes the right payment either to the farmer or the insurer. This payment would be based on whether there was a drought or some other threshold that was agreed upon by the two parties. Arbol is a decentralized platform.
Arbol makes automated payments based on weather outcomes using smart contracts and third-party weather data.