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Insurance

Another big sector of the finance industry is Insurance. Every exchangeable asset carries a risk of losing it, whether by unprecedented risks such as taking a bullet to your Ledger Wallet or foreseeable risks such as rug pulls. New protocols emerged, such as Nexus Mutual to tackle the decentral insurance problem. If you think about Insurance, it pays a premium to risk bearers in case a bad event happens, exchanging your money for security. In a Decentralized Insurance platform: Your participation, risk bearers’ participation and validation of the trade by oracles can all be governed by smart contracts to create a smoothly functioning DeFi ecosystem.