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Verida to Establish a Decentralized Insurance Protocol with Nimble

Verida partners up with Nimble. This partnership aims to improve Nimble’s decentralized insurance protocol. Nimble is currently developing innovative tech for the insurance...
Verida to Establish a Decentralized Insurance Protocol with Nimble Verida to Establish a Decentralized Insurance Protocol with Nimble

  • Verida partners up with Nimble.
  • This partnership aims to improve Nimble’s decentralized insurance protocol.
  • Nimble is currently developing innovative tech for the insurance services industry.

Verida has announced a partnership with Nimble to improve the Nimble decentralized insurance protocol and platform by leveraging the high-performance Algorand blockchain. Nimble will reportedly establish its democratized insurance service by leveraging the expertise and industry know-how of Verida. The developers will provide digital identity, trusted storage, private data ownership, and secure messaging for Nimble end-users through the Algorand blockchain.

Nimble revealed that it’s developing innovative tech for the insurance services sector that allows communities and members to take part in the insurance process. They can earn yield, control their private information, and be an important part of an insurance process that provides real value.

The announcement also noted that Verida will complement the Nimble tech stack and offer better connectivity to Algorand as the blockchain for implementing smart contracts and handling transactions with stablecoins.

Nimble’s decentralized insurance solution is able to benefit from “trusted” storage, identity, and messaging functionality provided by Verida’s framework. This allows Nimble stakeholders through the insurance life cycle to drive their own unique value from Nimble’s Insurance-as-a-Service framework.

Establishing a platform that cuts costs of insurance and offers equity to the insurance process wouldn’t be possible without a secure way to share their data and meaningfully contribute to the overall insurance process. The Verida network, along with the Verida mobile “Vault”, provides this tech solution to the wider Nimble ecosystem.

With this advanced framework in place, Nimble will aim to establish connections to different carrier systems both on and off-chain. This enables insureds and Nimble members to exchange data in an anonymized way and take micropayments for these transfers. This is a novel concept for insurance and could result in enhanced risk mitigation, proper claims management, and claims recovery processes.

Adam Hofmann, Founder at Nimble, said he’s looking forward to working on this initiative and believes this approach will become a key part of the future of insurance. Hoffman remarked:

This partnership will create a transparent relationship between what has traditionally been referred to as insureds and insurers.

He added that this innovative approach greatly improves the traditional process and establishes the rails for a better insurance process that allows consumers to be a part of the insurance ecosystem and create strong communities that can pool their shared risk. He added that this model can help people with realizing the benefits of insurance as a service and the yield that is “intrinsic to blockchain networks.”

Verida co-founder and CEO, Chris Were, added that the strategic partnership with Nimble will bring real-world utility to the DLT sector. Chris also noted that he was pleased that Verida can support Adam and the Nimble team to “build their vision for a next generation insurance platform.” He added that insurance was an “important use case” that they considered while creating the Verida technology stack, so it’s great to partner with Nimble to make this a reality.”

Nimble is focused on helping communities and insureds by harnessing the power of blockchain tech to enhance processes, properly aligning incentives, improving cost efficiency, and offering access to insurance coverages that are not accessible via the traditional insurance market.

Verida is a network of user data owned and controlled by the users themselves. The network has been designed to incentivize users to tap into their data that’s stored on centralized platforms. Verida is also operating the Verida Vault which is a mobile application that can work as a “Data Wallet” and a “Crypto Wallet.” It offers private key management and a secure interface for interacting with the Verida network and supported chains. This acts as the main entry point for end-users to manage their identity, safely log into apps, manage their own data, transmit messages and securely manage blockchain transactions/tokens.

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18-01-2022 15:12:31 (UTC+7)

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 EUR/USD1.1329Neutral
 GBP/USD1.3595↑ Sell
 USD/JPY114.64↑ Buy
 AUD/USD0.7185↑ Sell
 USD/CAD1.2507↑ Sell
 EUR/JPY129.88↑ Buy
 EUR/CHF1.0389↑ Buy
 Gold1,814.35↑ Buy
 Silver23.613↑ Buy
 Copper4.3987↑ Sell
 Crude Oil WTI85.33↑ Buy
 Brent Oil88.00↑ Buy
 Natural Gas4.330↑ Buy
 US Coffee C239.00↑ Sell
 Euro Stoxx 504,257.82↑ Sell
 S&P 5004,595.98Neutral
 DAX15,772.56↑ Sell
 FTSE 1007,563.55↑ Sell
 Hang Seng24,112.78↑ Buy
 Small Cap 20002,111.65↑ Sell
 IBEX 358,781.60↑ Sell
 BASF67.660↑ Sell
 Bayer52.06Neutral
 Allianz225.95↑ Sell
 Adidas254.20↑ Sell
 Lufthansa7.129↑ Sell
 Siemens AG142.60↑ Sell
 Deutsche Bank AG11.926↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,115/ 6,155
(0/ 0) # 1,167
SJC HCM6,110/ 6,170
(0/ 0) # 1,183
SJC Hanoi6,110/ 6,172
(0/ 0) # 1,185
SJC Danang6,110/ 6,172
(0/ 0) # 1,185
SJC Nhatrang6,110/ 6,172
(0/ 0) # 1,185
SJC Cantho6,110/ 6,172
(0/ 0) # 1,185
Cập nhật 18-01-2022 15:12:33
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Dầu hỏa1719017530
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
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EUR25.241,6226.656,50
GBP30.202,2531.491,85
JPY191,95203,20
KRW16,5120,11
Cập nhật lúc 18:54:36 18/01/2022
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