Devcon3 Attendees’ Blockchain Insurance Can’t Stop Mexico Police Corruption
Devcon3 attendees get automatic flight delay compensation but police arrest several in bribe shakedown.
Travellers attending the Devcon3 Conference in Cancun, Mexico are among the first in the world to get licensed Blockchain insurance cover.
As part of a rollout from Blockchain startup Etherisc, those flying to Mexico can get automatic refunds for delayed flights via smart contract.
The trial is underwritten by Atlas Insurance and allows conference-goers to “share the risk of a delayed or canceled flight with fellow travelers,” a press release explains.
“Passengers can choose their preferred premium, view their estimated payout, and make their purchase in ETH or major fiat currencies.”
Devcon3 is an Ethereum-focused gathering of top developers from the cryptocurrency development and business space, running from Nov. 1 through Nov. 4.
The core Ethereum team will be in attendance, with co-creator Vitalik Buterin among others presenting on the cryptocurrency.
While the Blockchain insurance offer is pertinent, the increased security jars with reports that attendees are being sought out for bribes by local police.
Entrepreneur and Ethereum developer Julien Bouteloup, who was himself a victim, reported on Twitter Monday that “at least four” Devcon3 members had been arrested on bribe demands up to $5,000.
“We have now an accidents spreadsheet to record Devcon 3 Arrests and Crime Incidents,” Bouteloup added in a blog post about his experience, requesting any further victims to get in touch.