Happy Independence Day

Pana DAO
4 min readAug 15, 2022

Happy Independence Day Everyone !!!

Today is the day when the masses will achieve freedom from worries about the future. This is because the worlds first democratised insurance provider Pana DAO has launched today.

Are we really free?

In the last two centuries, several countries achieved their independence from foreign invaders and established their own rule of law. Most of these countries drifted down the path of democracy where governments were chosen by the people as representatives of the people rather than being authoritative or autocratic in nature.

Majority wins, protection of minority, freedom and equality for all were the basic principles guiding democracies. While this sounded astonishing back then, over time this model kept corroding due to operational inefficiencies and today it has reached a point where it needs a major transformation.

Today, the world’s major democracies are faced with grave challenges. Institutions for public protection have become institutions for syndicate appeasement. In spite of several attempts to establish financial and social equality the gap between both ends of the society and on a larger scale between countries has widened even further.

As a result several countries and their governments are on the brink of collapse and the brunt of all this has to be borne by common people who are left with no one to protect their freedom.

Blockchain Changing Democracy

Democracy, as we know it today, regardless of country has been institutional. This means that the onus of implementation of democracy has always been on institutions that are run by a few elected members who are representing millions and billions of people. That these elected members are incorruptible is also not guaranteed. Overall, the whole model of democracy is flawed.

Blockchain technology is possibly the biggest technological revolution of this century as it has opened up the doors to change several things and the way that they are done.

Decentralised Autonomous Organisations (DAOs) that are thriving on the blockchain are changing the way democracy is operating and all of this is geared towards putting more power in the hands of people, removing operational inefficiencies and making democracy more realistic.

This will give people the freedom they truly thought they had but never actually received as these institutions that were meant to protect their freedom themselves engaged in activities that deprived them of it. If these institutions were dwelling on a platform like the blockchain, full transparency would have been ensured and people would have known the decision making process better. Moreover, given the immutable, incorruptible, indestructible nature of the blockchain, it is almost impossible to hide anything, misrepresent anything or employ tactics that disorderly elements of the government do with selfish intentions.

With this the governance is constantly operating under the community radar and only does or acts in a way that benefits the community.

We believe this is absolute freedom in its truest sense.

Freedom to Be Insured

To achieve absolute freedom and democracy like the above in all areas of human endeavour is a bigger problem and several DAOs are coming up on the blockchain almost daily attempting to solve one problem or another in a democratic fashion and in a number of different areas.

Pana DAO chose insurance as the area where it wants to bring about this revolution to make it independent and truly democratic. With the launch of Pana DAO we are taking the world in a direction where democracy and its true potential will be unleashed in the insurance industry.

The decisions about their own future will be taken by people themselves and not big insurance corporations. Here democracy will truly mean “of the people”, “by the people” and “for the people” in practicality and not just on papers compiled into fat insurance agreements.

Pana DAO puts its customers in complete control of everything from paying premiums, to planning investments to claiming payouts, etc. The role of the middleman is completely cut out and the insured or investors no longer have to visit corporate offices, be at call centres, be communicating on long email threads where multiple hierarchical office bearers say several things but never solve the problem that the customer is facing.

Moreover, with the ownership of the KARSHA token, customers will also be able to participate directly in the governance and decision making process thus putting them in control of their own future.

With transparency and immutability being guaranteed by the underlying blockchain technology, all operations performed by DAO governance like adoption of new policies, payment of DAO bills, partnerships, payouts of claims, investments in other ventures, etc. will happen out in the open for everyone to see and with the approval of the community.

We strongly believe that empowering the insured in such a way will free them of their worries about the future and cause big corporations making profits off their pain to shut shops.

PANA will finally open the door to insurance for them and their posterity.

Today is the 76th independence day of the world’s largest democracy and since our protocol aims for independence of the masses around the world in the insurance sector, we thought what would be a better day to launch this than today when its the independence day of a country that is home to one sixth of the world’s population.

We believe we will one day be able to reach the entire population on the planet. But for now we are off to a good start !!!

You can join us through our channels:

Follow us on Twitter: @ KarshaPana

Follow us on Medium: @ KarshaPana

Join the community on Discord



Pana DAO

Pana DAO is the first crypto protocol built to facilitate parametric insurance using a model similar to the time tested Lloyd’s of London syndicate model