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Trustless insurance has arrived on decentralized finance (DeFi). At least on the Compound protocol, the collateralized lending platform that runs on ethereum. The new product, from a company called Opyn, allows people to take out options on stablecoin deposits, allowing users to hedge against the risk of a catastrophic event wiping
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Bittrex has insured digital assets held in its cold (or offline) storage to up to $300 million, the highest coverage yet offered by a cryptocurrency exchange. The company announced the news Thursday, saying it has obtained digital asset insurance that will protect users' holdings in cases of "external theft and
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Cryptocurrency exchange Bittrex obtained $300 million in digital asset insurance against theft or collusion for the cryptocurrency it holds in cold storage.Bittrex announced in a blog post on Jan. 29 that the exchange obtained specialty insurance for corporations by insurance firm Lloyd’s of London after working with major insurance
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In a rare interview, London-based insurance firm Arch says a sizable but containable loss would demonstrate how well its $150M crypto storage policy would react. Only a handful of cold storage crypto policies have been written at this time; high net worth individuals are the main driver for
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The BitMEX Insurance Fund has added nearly 13,000 BTC in 2019, reaching a total of just over 33,491 BTC as of Dec. 30. This is equivalent to 0.19% of the total Bitcoin in circulation, based on the data available at Blockchain.com. The fund, which the cryptocurrency exchange set up to
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On Dec. 12, the second-largest health insurance company in the United States announced plans to leverage blockchain technology to secure the medical data of all its 40 million members over the next three years.The most unique quality of a blockchain is that once a piece of information is added
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Anthem, the second-largest health insurance company in the United States plans to use blockchain technology to secure medical data of all 40 million members over the next three years.On Dec. 12, Forbes reported that Anthem plans to use blockchain technology to give patients secure access to their medical data,
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According to CEO Alex Melikhov, Equilibrium’s EOSDT is now backed by smart contracts that pay out consumers if the dollar-pegged token crashes through its collateralized floor. Much like how America’s FDIC insures consumers’ traditional bank deposits against a run, Melikhov says these smart contracts inject certainty, and stability, in the
Read MoreOneConnect Financial, the blockchain and AI subsidiary of China’s top insurance company Ping An Insurance, has set the terms for its planned NYSE listing. Original Source
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The United States Federal Emergency Management Agency (FEMA) is exploring the idea of a blockchain-based property registry to streamline disaster insurance payouts.In its latest National Advisory Draft Report to the FEMA Administrator, the agency indicated its interest in deploying blockchain technology in order to streamline disaster insurance payouts and
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