[Edaily Reporter Park Sun-Yeop ] Weather big data platform company Kweather Co., Ltd.(068100)has partnered with global blockchain firm Flare to build a weather finance market that enhances the reliability of meteorological data. The plan is to record meteorological observations—such as temperature and precipitation—on the blockchain to reduce the possibility of forgery or tampering, and to use this data as the basis for index-based climate insurance and weather derivatives.
Kweather Co., Ltd. announced on the 15th that it has signed a Letter of Intent (LOI) with Flare to jointly develop a Web3-based weather finance market.

The two companies plan to build a system that records the hash values and key indices of the meteorological data collected by Kweather Co., Ltd. on the blockchain. A hash value is a unique cryptographic code that verifies whether the original data has been altered. By utilizing this, it is possible to verify whether the meteorological observations used for the contracting and settlement of financial products have been tampered with after the fact.
The meteorological data will be transmitted to the blockchain via “FTSO,” Flare’s time-series oracle. An oracle is a technology that connects real-world data—such as temperature or precipitation—generated outside the blockchain to the network. The two companies also plan to apply Flare’s confidential computing and cryptographic verification technologies to verify the data’s source and accuracy.
A cross-verification system will also be established to minimize the possibility of physical tampering with individual weather instruments. This system assesses data reliability by comparing measurements from a specific instrument with those from nearby instruments whenever abnormal values are detected. Kweather Co., Ltd. plans to further develop the system into a decentralized physical infrastructure network—known as “DePIN”—that integrates weather instruments with the blockchain.
This collaboration aims to address the risk of data manipulation arising from the direct link between weather data and the profits and losses of financial products. The company cited a case last April at Paris Charles de Gaulle Airport in France, where weather equipment was suspected of being deliberately tampered with, allowing participants in a prediction market to gain unfair profits, as a prime example. The company explained that without a system to technically verify the reliability of observations, weather data could be misused in the process of insurance payouts or the settlement of financial products.
The two companies plan to develop index-based climate insurance that utilizes verified weather data to pay out insurance claims without separate loss assessment when specific weather conditions—such as droughts, heat waves, or torrential rains—are met. They are also pursuing plans to design weather derivatives that enable companies to mitigate losses resulting from fluctuations in temperature or precipitation.
They are also exploring a trading structure that links blockchain-based financial products, the Flare ecosystem, and the cryptocurrency XRP, allowing investors and financial institutions to participate. However, the specific forms of financial products and launch schedules will be finalized following future discussions between the two companies.
Hugo Fillion, co-founder and CEO of Flare, said, “We will realize the business potential of weather finance by combining Kweather Co., Ltd.’s weather data with Flare’s data verification technology.”
Kim Dong-sik, CEO of Kweather Co., Ltd., stated, “As weather risks increase due to climate change, the importance of accurate and transparent weather data also grows,” adding, “We will minimize the possibility of data tampering or falsification so that it can be utilized in the weather finance market, including insurance and derivatives.”