NAKER is a Binance Smart Chain Token, existing use cases they are already exploring some financial products such as user-behavior based auto insurance, micro insurance on food cold chain logistics, and supply chain finance.
On one hand, they found that with the business activities natively integrated on the blockchain such financial products can be provided at a lower cost and in a streamlined manner based on the on-chain data and activities. On the other hand, in order to unleash the full potential of such new business models comprehensive and commercial-grade settlement layer and data layer need to be put in place. It confirms their strategy to start with pushing the adoption in non-financial real-world use cases and enable financial institutions and central banks to build the infrastructure and financial products using NakerDAO’s blockchain technologies.
NakerDAO helps to connect different companies in the ecosystem to reach a mutually beneficial partnership that also incentivizes the end consumers. Some may have concerns about data privacy issues, and this has been on our minds since day one. The easy solution is to obtain consent from the data owner before it is used by another party. On top of that, they are also working out privacy solutions such as multi-party computation (MPC) to further address this issue that many have concerns for. All of the above are cornerstones of the robust distributed business ecosystem that is envisioned by NakerDAO.