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Articles by Alpen
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How we can rebuild insurance to scale using blockchain and smart contracts
How we can rebuild insurance to scale using blockchain and smart contracts
By Alpen Sheth, Ph.D.
Activity
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Exciting News! I'm thrilled to announce my new role as Head of Business Development at RISC Zero! At RISC Zero, we are dedicated to making…
Exciting News! I'm thrilled to announce my new role as Head of Business Development at RISC Zero! At RISC Zero, we are dedicated to making…
Liked by Alpen Sheth, Ph.D.
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Property insurance costs in Miami-Dade County have increased more than *40%* in recent years! We know we can't continue on this path... Miami-Dade…
Property insurance costs in Miami-Dade County have increased more than *40%* in recent years! We know we can't continue on this path... Miami-Dade…
Liked by Alpen Sheth, Ph.D.
Experience & Education
Licenses & Certifications
Volunteer Experience
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Volunteer Teacher
ESL Program for MIT Service Employees
- 2 years 5 months
Education
The English as a Second Language (ESL) Program for MIT Facilities Department Employees on campus helps employees who are not native English speakers improve their English communication skills and advance their careers. MIT employees, faculty, undergraduate and graduate students, MIT Women's League members, retirees and friends of MIT volunteer to teach in this growing service endeavor that richly rewards tutors as well as learners.
The program provides the following:
- Year-round ESL…The English as a Second Language (ESL) Program for MIT Facilities Department Employees on campus helps employees who are not native English speakers improve their English communication skills and advance their careers. MIT employees, faculty, undergraduate and graduate students, MIT Women's League members, retirees and friends of MIT volunteer to teach in this growing service endeavor that richly rewards tutors as well as learners.
The program provides the following:
- Year-round ESL classes for all three working shifts at MIT.
- Support services for employees seeking to gain U.S. citizenship.
- Classes for job-specific licensing and certificate exams.
- Classes and preparation for General Educational Development (GED) and Adult Diploma Program (ADP)
Publications
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"Blockchain and Contract Theory: Modeling Smart Contracts using Insurance Markets"
Journal of Managerial Finance
In this paper, we model blockchain based smart contracts specifically for the insurance industry. We introduce the concept of smart contracts and further discuss the implementation of a decentralized insurance marketplace namely Etherisc, using smart contracts on the Ethereum blockchain platform. We apply economic theory to demonstrate how the equilibrium shifts in this marketplace by means of reducing transaction costs in the marketplace for both the retailer and the insurance seller. Next, we…
In this paper, we model blockchain based smart contracts specifically for the insurance industry. We introduce the concept of smart contracts and further discuss the implementation of a decentralized insurance marketplace namely Etherisc, using smart contracts on the Ethereum blockchain platform. We apply economic theory to demonstrate how the equilibrium shifts in this marketplace by means of reducing transaction costs in the marketplace for both the retailer and the insurance seller. Next, we model the principal-agent relationship between the insurance provider (i.e. Etherisc or a firm creating an Etherisc insurance product) and the agents (i.e. insurance agent) in this marketplace. Using an illustrative model and simulation from Hart and Holmstrom’s theory of contracts, we demonstrate how smart contract-based marketplaces improves optimal allocation for the efficient agent (i.e. an agent who adopts smart contracts) versus an agent who sticks with traditional insurance products. We conclude with a review of major risks and policy recommendations.
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Who will own blockchain?: Blockchain ownership and crypto anticommons
Good Audience (Medium)
Blockchains are transforming property rights. What’s lies behind any digital ledger, token, asset, or contract is a package of rights — how we assign and interpret these rights is at the heart of blockchain governance.
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"Revisiting Development Theory: Alice H Amsden’s impact on the field"
Cambridge Journal of Region, Space, and Economy
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How we can rebuild insurance together to make it more accessible and fair using Etherisc's blockchain technology
Etherisc Blog
Today, insurance doesn’t actually scale and most people don’t have access to the protection they need. Opening up insurance using smart contracts and blockchain is one of the most important solutions out there. This post shows why decentralized insurance can work based on the Etherisc protocol.
Projects
Honors & Awards
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Sardar Patel Dissertation Award
UCLA Center for India and South Asia
http://www.international.ucla.edu/cisa/patel
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C. Lowell Harriss Dissertation Fellowship
Lincoln Institute of Land Policy
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Environmental Governance and Sustainability Graduate Fellow
Massachusetts Institute of Technology
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Lloyd and Nadine Rodwin International Travel Fellowship
Massachusetts Institute of Technology
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MIT Presidential Fellowship
Massachusetts Institute of Technology
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NGS Young Explorers Grant
Committee for Research and Exploration, National Geographic Society
Languages
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Spanish
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Hindi
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English
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Organizations
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Association of Collegiate Schools of Planning (ACSP)
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The American Association of Geographers (AAG)
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Recommendations received
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As we handled more than 7.5 million tourists in the first five months of the year, i.e. till May 2024 alone, a few events that made Himachal a…
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AI models without matrix multiplication, and therefore, more accessible due to lower need for GPUs and far less energy intensive? In a preprint…
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🚀GEODNET now has over 7,000 Base Stations, solidifying our position as the world’s largest Global Navigation Satellite System (#GNSS) reference…
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