Blockchain Blogs

  In today's fast-paced digital world, almost every aspect of our lives has gone online. From shopping for clothes and groceries to ordering a ride with a tap on our smartphones, the convenience of  e-commerce  is undeniable. But did you know that the world of insurance is also undergoing a digital transformation, thanks to e-commerce applications? In this blog, we will explore the fascinating world of e-commerce in insurance, unraveling how it's making insurance more accessible, affordable, and convenient for all. What is E-Commerce in Insurance? First things first – let's clarify what e-commerce in insurance means. Simply put, it's the process of buying, managing, and even claiming insurance online. Gone are the days when you needed to visit an insurance agent's office, fill out mountains of paperwork, and wait weeks for your policy to kick in. With e-commerce insurance, you can do it all with a few clicks. 1. Accessibility One of the most significant advantages o

  Introduction DeFi insurance has the exact definition of conventional insurance. DeFi insurance prevents economic losses due to circumstances inside the DeFi ecosystem. DeFi insurance protocols can give caution and act as a security net for the crypto business, much more like blockchain does that for the mainstream standard insurance sector. Let's say you have money on a  DeFi  platform locked up, either as an individual or a business. You want to insure yourself against this risk since you know you could lose your capital if this platform or protocol is compromised. As a result, you take an insurance DeFi provider and pay a specified sum to be insured if you lose your capital due to a particular, predetermined occurrence. Depending on the type, length, and protection provider, your price for it can vary greatly. On Nexus Mutual, for instance, you pay 0.0259 ETH to insure 1 ETH for a year against a Binance attack (at the time of writing). Understanding the events you purchase cove