Decentralized Finance, more commonly known as DeFi, has the ability to change the world as we know it. However, there are vulnerabilities that lead to many industries and investors being slow to adopt. Insurance is capable of bypassing the issues, especially since centralized finance has been relying on insurance since the dawn of time.
The problem is that insurance in the DeFi market remains elusive.
What You Need to Know About DeFi and the Need for Insurance
DeFi has already attracted over $100 billion in investments, all locked up in smart contracts. Many of these are developed by anonymous teams that aren’t worried about the safety or security of their invested funds. …