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#181 – Sergey Nazarov: Chainlink, Smart Contracts, and Oracle Networks
Lex Fridman Podcast
Emerging Markets
In the emerging market, there are literally people that if they don't have rain for two seasons, they need to close down their farm and become a migrant worker of some kind. There's still decades away from an insurance company coming to their geography and offering them insurance because their local legal system simply doesn't allow that type of thing to exist. So with this technology, if I have a $50 Android phone and the smart contract has data from satellites or weather stations about the weather conditions in the geography that my farm is in, I can put value into the smart contract and it will automatically pay me back. And guess what? I just leapfrogged past my corrupt government not being able
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