CoverCompared and DeFi Insurance

CoverCompared introduced article about DeFi Insurance.

Decentralised Finance (DeFi) as a concept utilises blockchain technology. In contrast to other traditional financial bodies, DeFi solutions are not controlled or regulated by a single, central source. The decentralised aspect is essential to a DeFi business model as centralised regulation can often limit the efficiency of a protocol — a centralised system is less transparent and has more control over users’ assets.

The importance of DeFi insurance is monumental. Assets in the DeFi space inherently have more risks that people may want protection against. DeFi insurance thus provides a valuable hedge against the threats attached to digital investments.

CoverCompared and DeFi Insurance

The vision at CoverCompared is to give the power back to the people by lowering insurance policies and coverage’s transactional and administrative costs. Additionally, they aim to offer high value cost-effective traditional and crypto insurance products and provide users the option to buy all insurance products (including Traditional) using a host of cryptocurrencies. Soon users will receive global access to purchase innovative insurance products through our one-stop-shop marketplace.

About CoverCompared

CoverCompared is the First DeFi insurance marketplace for the global crypto ecosystem. They aim to lower transactional and administrative costs of insurance policies and coverage while providing high-value, cost-effective insurance products bought using a host of cryptocurrencies.

📰 INFO

https://covercompared.medium.com/defi-insurance-in-the-digital-age-fc88e3852cb4