180Protocol chooses Bright Union as DeFi coverage partner
180Protocol — a decentralized technology infrastructure bridging enterprise to Web3 to unlock value in data assets, is preparing for its alpha release in January. Momentum is building with use cases in development in arts & culture and financial services. Next up on the agenda for them — Decentralized collaborations in the Insurance sector.
As 180Protocol looks forward to its network going live, it is partnering with Bright Union, DeFi insurance aggregator, as a coverage provider. In the longer term, the pair will also take the lead in a consortium, exploring how TradFi Insurance can utilise 180Protocol’s infrastructure to expand into web 3.0 and DeFi.
Institutions can now confidently deploy on Web 3.0
In the short-term, 180Protocol has chosen Bright Union as its coverage provider for its clients and foundation as it expands into Web 3.0. 180Protocol provides plug and play solutions to on-ramp businesses to Web 3.0.
“It is crucial for our clients to know that we are managing risks in a disciplined and thorough manner. With Bright Union guiding us and providing coverage, we will enable businesses to confidently deploy Web 3.0 to unlock value in their data assets for the benefit of all.” — Katie Lundie, Commercial Lead of 180Protocol
Bright Union offers bespoke coverage packages to funds or other organizations who invest in DeFi. With over 170+ protocol covers available at the best rate, Bright Union can offer the most complete coverage for your investment strategy.
Bringing Web3.0 to the Insurance Industry
The second and long term goal of the partnership is for Bright Union and 180Protocol to bring TradFi insurance into web 3.0.
In the coming months, both teams will work together to map out a vision of what this insurance coalition could look like. Within 180Protocol’s tokenized ecosystem, rewards are distributed dependent on the value of data between members of a coalition. Set up as a DAO, 180Protocol will enact a token to weave together value-adding coalitions delivering value to the network and token holders. An insurance coalition could involve insurance providers aggregating details of their risk assessments, claims management systems, or details of customer feedback, with the goal of increasing efficiency and intelligence collaboratively.
“Bright Union is really excited to work with 180Protocol on a use-case for their technology within the insurance industry. As an aggregator we believe strongly in bringing together fragmented markets where there are untapped synergies and potential for significant value creation. This principle aligns with 180Protocol’s offering so well, it would be foolish not to collaborate!”- Kiril Ivanov, co-founder and tech lead of Bright Union.
About 180Protocol
180Protocol is a developing ecosystem to unlock the value of data assets, empowering businesses to take control of their data by deploying Web3, delivering value for all.
Telegram: https://t.me/protocol180
Twitter: https://twitter.com/180ProtocolTech
Github https://github.com/180Protocol/
website : https://180protocol.com/
About Bright Union
Bright Union is the world-leading multi-chain decentralized finance cover marketplace. Our mission is to safeguard your digital assets from hacks, smart contract failures, and rug pulls by empowering the crypto community to cover one another in a decentralized and permissionless manner.
Bright Union provides the most comprehensive range of crypto insurance on the market at competitive prices. Furthermore, Bright Union will soon release its unique suite of cutting-edge risk solutions, providing investors with outstanding investment and coverage opportunities. Be bright and take advantage of DeFi’s exponential growth.
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