At a time when the world of decentralised finance (DeFi) has been booming for several months, (an increase of nearly 2,000% since January 2020 according to the Defipulse website) Bridge Mutual has chosen to offer an innovative decentralised insurance platform. It is indeed a sector which, like most of the emerging sectors of Finance 2.0, is the victim of numerous attacks as shown in the picture below.
Bridge Mutual, what’s that?
Bridge Mutual offers decentralised and discretionary p2p/p2b insurance services that cover stable corners, centralised/decentralised exchanges and smart contracts. Its platform thus enables users to provide insurance coverage, determine insurance payments to be made, but also to be compensated for their participation in the ecosystem.
Meeting a need
Bridge Mutual wants to adapt to a very clear reality: the world of DeFi needs an insurance system. Smart contracts are susceptible to hacking (e.g. DAO hacking), stock exchanges are vulnerable to attacks (e.g. KuCoin hacking), and stable corners can collapse (e.g. NuBits crash, DAI liquidity crisis).
In order to increase the adoption of cryptosystems at the institutional level, it is therefore essential to increase confidence in these systems. Bridge Mutual solves this problem in a way that is economically viable in the long term, transparent, cost-effective, decentralised and scalable.
Bridge Mutual en six points
Bridge Mutual’s team is totally transparent and includes recognised specialists in both blockchain and insurance.
The CEO of BridgeMutual is Mike Miglio. He is a former managing partner at Wolfe Miglio, a leading law firm specialising in securities and cryptography. He is also an advisor to dozens of well-known cryptos companies including : Akropolis, Certik, Kinesis, NOIA, QTUM, FABRK, Gate.io…
Bridge Mutual, en bref
More info at: https://www.bridgemutual.io/