Nexus Mutual: Newsletter #1

Out of the Shadows

Welcome to our first newsletter!

For those new to the project, or in need of a brief refresher, we’ll start with a little bit of background first.

About 2 years ago Nexus Mutual started as just an idea when we realised blockchain technology could be used to significantly change the current insurance business model. We realised we could re-establish the very old idea of the mutual where individuals pool risk together enabling the community ethos to be brought back to insurance. We have made a lot of progress on our journey to make this vision a reality and now consider ourselves a fully fledged start-up working hard on getting to launch.

We will try and keep these updates short and to the point, so here is our list of achievements:

1. We have completed our seed funding round!
With a big thanks to KR1 and Kenetic in particular, plus generous support from their angel network.

2. We have added some great talent to the team.
In addition to Hugh, Ish and Nitika plus the rest of the dev team at Somish we are really excited to welcome:

James Suddaby as our COO — making sure we can execute and deliver an awesome first product.

Charlie Ellington leading Design & Marketing — bringing much needed pizazz to complement our technical back-end focus.

Rei Melbardis leading Business Development — primarily building partnerships but also getting stuck in to everything along the way.

James, Charlie and Rei

3. Focusing heavily on #buidl so far
While we are getting out more to spread the word our focus to date has been on the technical back-end as well as legal and regulatory work. On the legal side, we have now verified that our target structure works.

On the tech side, in addition to the great work done by Ish, Nitika and the team over the past year (see our github), we should be in a position to release our test-net alpha of Smart Contract Cover in the coming weeks!

4. We have partnered with Incentivai to test the game theory in our incentive structures.
Incentivai use machine learning and AI trained bots to test token models for game theoretic attacks. For more information see this blog post.

Stepping back it’s also worthwhile outlining our high levels goals and the views we hold as a project team. This is particularly important as we start growing the Nexus Mutual community.

VISION: Build an alternative risk carrier for the insurance industry.

• We want to empower individuals through decentralisation.
• We believe decentralisation is a spectrum and pragmatic trade-offs are ok to start.
• We value quality and substance over hype.
• We are focused on building.

Thanks for reading! Look out for future editions where will update you on our planned launch timing and how you can get involved. If you’d like to dive into more details head to our newly refreshed website or see below for our presentation at EthCC in Paris.

Nexus Mutual at EthCC in Paris

What Nexus Mutual is about and how we enable business ready smart contracts.

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