Nexus Mutual - Returning the power of insurance to the people
Nexus Mutual
Returning the power of insurance to the people
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Nexus Mutual is a blockchain based mutual platform which aims to solve all the problems regarding insurances.
The purpose is to get rid of the insurance companies and create a decentralized platform.
Blockchain is changing the world!
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Cool Hunt !
Hello, I really appreciate your effort & Here is my opinion-
As I have seen so many centralized Insurance companies but as consumer we have to face some problem and trouble at the time of payment and we need to wait so many days In such situation having a Decentralized and Blockchain Powered Insurance System is needed.
As it transparency and we have trust of Blockchain Technology and I would love to have insurance in such System rather than Centralized.
Thank You & Happy Hunting :-)
Thank you too!
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wow..
Really its have awesome facilities.This is blockchain based thats really interesting.Also we can solve insurance problem .esaily.I hope people will love this system .
Thanks a for your excelent work keep it up...
Whoa!! I never think that Insurance would be decentralized one day. That's insane to me. The local private companies who convince you for the useless insurance policies for the sake of commission should get rid out of them. And, start using decentralized blockchain mutual insurance as the future is all about BLOCKCHAIN. BLOCKCHAIN is a LIFE!
Nice Hunting!! Keep it up!
True!
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My only problem is how? We are still in early stages of decentralised blockchains and even bitcoin, after 10 years, has neither become a store of value or a payment mechanism and both those use cases are simpler use cases as opposed to decentralised insurance. I am not saying decentralised companies are not possible but may be the odds are against this idea at the moment.
It will take some time until everything will be perfect
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Although all insurance schemes seem profitable and attractive on the surface but in reality only a few are worth the effort and money.
This is where Nexus Mutual comes in. Since it is decentralized, meaning there is no chance of fraud or hidden clauses.
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First, long time no see your hunt @jwolf, where have you been?
Blockchain can ensure anything is "honest". There are no more lies that can be covered up, and there will be no disputes that are difficult to resolve because all the evidence is clear.
I stopped hunting for a while but I was daily on SH :D
Nexus Mutual is very useful blockchain based mutual platform that run entirely by it's members uses the power of Ethereum to solve the problems of insurance. This platform allows members to share risks together and decide about claims without insurance company returning the power of insurance to the people.
hmm now insurance would be decentralized really cool but still if we take an example of crypto the main purpose was crypto is to get rid of the traditional banking system but still, we have that system correct me if I'm wrong so i guess traditional insurance companies would be there but insurance on decentralized platform is cool initiative at least there won't be any commission and it would be transparent and easy
Time will solve everything!
This is a nice idea, and maybe one day Insurance will be handled on the blockchain, but I don't think it's practical at the moment.
I'm not sure how far down the line they are with their offering/service, or which regions they serve, but [for example] in the UK you are required by law to take out an Insurance policy if you're driving on the road. And saying you have a blockchain policy would not cover you - so you'd be breaking the law.
Yes, in theory, you could insure you mobile phone on the blockchain, and may get your claim answered, and a payment if you need it, but I wonder how foolproof the voting system is.
Are users of the service/app going to spend their time reading through claims, and decide on who gets paid, and who doesn't? If so, what are they basing this decision on? Insurance fraud is huge "business" and that's why the Insurance companies employ claims handlers & investigators - it's not just your word goes!
This is a nice idea, and I really hope that one day this can become a reality, and disrupt the Insurance industry (which really, REALLY needs disrupting), but I don't think we're quite there yet. But, I really do hope to be proven wrong!
Nice hunting :)
Thanks a lot!