What do we value?

At Nexus Mutual we believe in the fundamentals of blockchain. It can, and has already begun to, revolutionise the way we relate to technology and how we use it in everyday life. It has the potential to empower anyone with access to a mobile phone — more than 5 billion people worldwide — in a vast number of ways.

But we aren’t quite there yet. We recognise that using blockchain in real world situations is currently not fully compatible with the decentralised ideology of blockchain. That’s because the technology isn’t yet fit for purpose in many situations where it has the potential to have real impact. To achieve greater impact, we need to acknowledge that users operate in the real world.

Values aren’t something you pick; they are something you already are. So, when we sat down to talk about our values, we looked back to why Nexus Mutual was created in the first place. We already talked about that in more detail here. It became clear to us that there were three core values that underpinned what we believe and why we are doing things the way we are.

Inclusivity 👨‍👨‍👧‍👦 👩‍👩‍👧‍👦

Nexus Mutual was originally designed to help people in earthquake zones get better cover against risk (traditionally referred to as insurance). We want people, regardless of their circumstances, to have access to this. We’re inclusive. We want our community of members to be global and for it to be accessible to anyone.

Another reason we believe in blockchain is that it is open source — anyone can access our code and use or develop it. We know that there is always room for improvement — if there is a need to develop or progress or change our model for a new audience then we believe that anyone should have the option to do that.

Pragmatism🤝

We want to deliver a product as soon as possible. We think its more important to implement something that can have a real impact sooner, rather than talking about it for a long time beforehand and waiting for the technology to become fit for purpose. We know this means we might have to make changes down the line. But we would rather be making changes based on experience instead of just theory.

In practice, we believe that we need to make some pragmatic trade-offs so that we can use blockchain in real world situations much sooner. We hope that this means we can have a greater impact, faster. This way we can make sure we have a robust system in place before we progress to a fully decentralised model with the ultimate aim of returning the power of insurance to the people.

Certainty 🏛

We have legally wrapped our organisation because we want certainty and structure. We see this as essential because we want to be inclusive, and currently that means operating as a real-world entity.

To maintain a level of certainty, and to ensure Nexus Mutual can operate legally, we are not fully permission-less. We want to be compliant and in line with regulation so that we can provide a reliable service to our members.

The future🤞

Blockchain has huge potential, but it does not exist in a silo. Our aim is to bridge the gap between the technological innovations and the real world. We think we can use the great aspects of blockchain technology and develop it in a way that will be effective for everyday users.