Tag: insurance

Sep 02 2021

Why Insurance Companies Need Bitcoin

In a time of monetary inflation, the only place to pool funds for insurance companies is bitcoin.Everyone Loves Insurance, Right?Healthcare and insurance. The words just evoke anguish, discomfort and general anxiety, don’t they? I mean, I sure as hell don’t enjoy hearing those words uttered, let alone ponder the costs that are forked over every month from my salary. Yet they...

Jul 30 2021

Crypto scams, DeFi hacks, and rug pulls: Why the crypto industry needs insurance tech

Jul 30 2021 Published at CryptoSlate under tags  defi guest post hacks insurance

Your bags are gone. How do you alleviate that concern? With insurance. Unfortunately, DeFi users don't have much choice when protecting their assets, and only an estimated $2 billion of DeFi's $100 billion TVL is insured. Needless to say, crypto and DeFi are still in the exploratory phase in finding an optimal insurance solution. Exploits have become almost inevitable and hidden in plain...

Jun 02 2021

May 26 2021

Move over DOGE: Uma launches DeFi insurance contracts for SpaceX flights

May 26 2021 Published at CryptoSlate under tags  adoption defi insurance umausd

Decentralized finance (DeFi) platforms Uma and Opium Network have announced the launch of a new—quite unusual—crypto derivative product that would allow individual users to act as insurers for SpaceX flights. “Using Uma’s Optimistic Oracle, Opium Protocol launches decentralized...

Apr 26 2021

Apr 15 2021

Major Swiss Insurer Now Accepts Bitcoin

Swiss insurance giant AXA is offering a bitcoin-based payment option to meet growing demands for this alternative from its customers.Bitcoin adoption as a method payment is rising globally and the latest institution to embrace this development is Switzerland-based insurance giant, AXA.The Swiss-based insurance company...

Apr 08 2021

NYDIG Raises $100 Million, Details Bitcoin-Powered Insurance Strategy

Apr 08 2021 Published at Bitcoin Magazine under tags  business fundraising insurance nydig

NYDIG has announced a $100 million raise of growth capital with strategic partnerships and hires for a bitcoin-powered insurance strategy.In an April 8, 2021 release,...

Mar 15 2021

The Imminent Synergy Between The Insurance Industry And Bitcoin

Mar 15 2021 Published at Bitcoin Magazine under tags  business insurance

Given current monetary policy, the insurance industry and bitcoin are a match made in heaven. Here’s why.Early on the morning of March 10, NYDIG, a financial services firm dedicated to Bitcoin and built specifically for institutional clientele,...

Mar 08 2021

Why Insurance is the Next Big Thing in DeFi

Mar 08 2021 Published at Bitcoinist.com under tags  defi industry insurance

Thanks to the innovation of blockchain technology, cryptocurrencies and many of the applications built around them benefit from incredible security that most traditional financial products struggle to match. This has led to the development of a huge range of decentralized finance (DeFi) products, which allow individuals and businesses to shop, invest,...

Feb 08 2021

Armor Finance Denies User $1.6 Million Insurance Claim

Feb 08 2021 Published at Crypto Briefing under tags  business defi insurance nexus mutual

DeFi insurance service Armor Finance has been accused of backing out of a $1.6 million insurance claim, according to one of its pseudonymous clients. User Claims He Was Defrauded Kferretcrypto, who says he was defrauded, attempted to settle an insurance claim concerning a Nexus Mutual investment. The user...

Feb 06 2021

Celsius CEO Alex Mashinsky announces self-insurance all its users’ coins

Feb 06 2021 Published at CryptoSlate under tags  insurance lending people

Crypto banking and financial services platform Celsius Network (CEL) plans to self-insure its users’ funds against unforeseeable losses, its co-founder and CEO Alex Mashinsky announced on Twitter today. “You asked for it and we listened....

Jan 12 2021

Nexus Mutual Now Protects Coinbase, Binance Users

Nexus Mutual is now offering centralized exchange cover. The protocol will compensate users who lose 10% of their funds or experience prolonged withdrawal halts. Nexus Mutual Expands Cover to CeFi Nexus Mutual,...

Dec 28 2020

Who Insures the Insurer? Cover Protocol Attack Exposes DeFi’s Promise and Peril

Dec 28 2020 Published at CoinDesk under tags  cover protocol defi hack insurance markets

Defi insurer Cover Protocol, designed to reduce smart contract failure risks, was exploited by a bug in its smart contract on Monday morning.

Cover Protocol Hacker Makes Off With Millions, Binance Halts Token Trading

Dec 28 2020 Published at Crypto Briefing under tags  cover protocol hack insurance markets

A hacker has exploited a bug in the incentives smart contract of Cover Protocol. This has allowed the hacker to get away with 11,761 COVER tokens, worth $3.62 million at press time. Cover Hack Kills Token Price Cover...

Dec 24 2020

Crypto China: Construction Bank in China Launches First Insurance Policy Paid in Digital Currency

Dec 24 2020 Published at Coingape under tags  btcbrl btcbusd btcgbp btcjpy btcrub

China Construction Bank, one of the largest banks in China has started a new use case for the country's much talked about digital yuan by issuing the first insurance policy completely paid in the national digital currency. The digital yuan settled insurance policy was launched in association with ZhongAn Online P&C Insurance. Local media reports The post Crypto China: Construction Bank in China...

Dec 22 2020

Polkadot-Based DeFi Insurance App Raises $1.95M Led by KR1

Dec 22 2020 Published at CoinDesk under tags  business defi insurance smart contracts

Tidal will use the Polkadot blockchain to allow users to insure a set of DeFi applications against smart-contract failure or breaches.

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