Blockchain Startups to Provide Decentralized Insurance

Bee Token and WeTrust companies partnered to provide a decentralized insurance layer based on crowdsourced security deposits for Bee Token users
29 January 2018   914

Bee Token, a San Francisco-based startup utilizing an ERC-20 ​utility ​token for its Beenest decentralized home-sharing network, announced on Friday a new partnership with WeTrust, a blockchain-based platform for financial empowerment, to provide a decentralized insurance layer based on crowdsourced security deposits for Bee Token users, and improve risk assessment capabilities by integrating user history on the Beenest platform.

Bee Token and WeTrust will collaborate to incentivize good behavior among users by sharing information around trustworthiness and creditworthiness, thus minimizing risks associated with property damage to hosts’ rentals at cheaper insurance rates that cover both property and/or furniture damage.

This collaboration is exactly the sort of innovative use case that we believe will demonstrate the advantages of our platform in managing the complex processes involved with decentralized insurance and insurance-like products across diverse industries.

 

George Li

WeTrust, CEO

Recently, we have reported that Bermuda is aiming to make the government more efficient switching its property deed system to blockchain.

Binance to Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   83

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.
 

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.
 

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.