- How will Ethereum smart contracts handle Bitcoin bonds and insuranse policies? Ethereum smart contracts can directly control ETH or Ethereum-based tokens only.
Bonds and policies are handled in the Ethereum blockchain only. If the policy in issued for a BTC account then the bond is nominated in BTC.
For such a case, Inchain based on the Ethereum smart contracts data may initiate a payout from a bitcoin wallet. Every transaction (or a set of transactions) should be signed by a certain number of members of the Insurance committee to go through. These members act as escrows, signing genuine transactions.