Kweather, one of South Korea’s largest weather big data platform companies, is partnering with blockchain network Flare to bring meteorological data on-chain and test new weather finance applications under a newly signed letter of intent, the companies said Tuesday.
As part of the initiative, Kweather’s meteorological datasets, including temperature, rainfall and other climate variables, will be delivered through Flare’s Time Series Oracle.
The layer 1 blockchain project said its infrastructure will verify and secure the data, making it immutable and suitable for financial products and blockchain-based services that depend on trusted real-world information.
The verified data will underpin a range of potential weather finance products, including parametric climate insurance that triggers payouts automatically when specific environmental thresholds are reached, eliminating the need for conventional claims processing.
“Kweather is the perfect partner that aligns with Flare’s data-centric blockchain ecosystem. We will rapidly advance our technical implementation to demonstrate the viability of the weather finance market,” Flare’s co-founder Hugo Philion commented on the partnership.
