An insurance collaboration between decentralized protocol Etherisc and microinsurance issuer ACRE Africa has allowed thousands of farmers in Kenya to receive coverage for weather-related risks. Etherisc and ACRE Africa said they had processed insurance payouts for some of the more than 17,000 smallholder farmers in Kenya covered under the collaboration. The Chainlink Community Grant, the Ethereum Foundation and the Decentralized Insurance Foundation helped fund the project, which was first announced in November 202. “We’re thrilled that after months of hard work on this initiative, we’re seeing the fruits of our labour — which has a tangible social impact on farmers …

Today the Chainlink Community Grant program announced funding for a low-cost insurance collaboration between Etherisc, a decentralized insurance protocol, and ACRE Africa, a microinsurance issuer focused on the second-most populous continent on the planet. According to an announcement from Chainlink, the project aims to build a blockchain-based insurance platform that delivers affordable coverage for the nearly 250,000 smallholder farmers in Kenya, many of whom are expected to be disproportionately affected by climate change over the next three years. The planned platform will also provide insurance policies with payment installments valued as low as the equivalent of 50 cents in local …