Schmuck Insurance

Chamath Palihapitiya, founder of The Social+Capital Partnership, a co-owner of the Golden State Warriors NBA team and a former Facebook exec, sees Bitcoin as "schmuck insurance." To Palihapitiya, schmucks are the Lehman Brothers, Bear Stearns, AIGs, London Whales and other scandal-ridden "masters" of the financial services universe that have -- since the near-meltdown of the global economy in 2008 -- had an almost alchemical ability to turn gold into dross. Palihapitiya's embrace of a better alternative in his Bloomberg commentary "Why I Invested in Bitcoin" clearly echoes the frustrations....

The blockchain technology has now entered the insurance sector, making it possible for the insurance companies to offer policies to suit the customers' needs. The use of blockchain technology in insurance sector is something relatively new. London, the fintech destination of Europe is the first one to explore the potential uses of distributed technology in the insurance industry. The Capital of England already has a couple of companies who have already implemented it into their offerings. The blockchain is known for its transparency, security, immutability and reliability. All the....

iTrust is the first of its kind, a Layer 2 yield aggregator for decentralized insurance. Users of decentralized insurance have the opportunity to derisk through DeFi by earning a passive yield with their insurance tokens. The rise in smart contracts has attracted forward thinkers who are willing to advance innovation at every turn. With north […]

Polkacover, the ingenious platform that bridges the gap between traditional insurance companies and crypto-insurance products has just launched its Demo Decentralized Application, demonstrating how users can connect with several insurance providers offering global insurance products such as crypto-related protection, health, life, and more, with ease. Polkacover is the first decentralized insurance marketplace for the DeFi […]

In a surprise post on Coinbase's blog today, Coinbase revealed that they have "been insured for almost a year." Coinbase insurance was secured through worldwide insurance broker, Aon. Aon has over 60,000 colleagues worldwide and provides services for clients in over 120 countries. That Coinbase is securing insurance from a potentially worldwide network of underwriters is no small fact to look over. Coinbase's insurance policy "covers losses due to breaches in physical or cyber security and employee theft." Pointedly, Coinbase insurance does not help any individuals that lose their bitcoins....