Web3 and DeFi-related insurance to disrupt the traditional finance system
Powered by blockchain technology, Web3 is referred to as a decentralized online network where platforms and apps built on it are accessible to anyone regardless of race, ethnic group, or any community.
As traditional finance has a long history of excluding minorities or making it harder for them to access services, Web3 developers have chosen to build dApps to disrupt this system built with these inherent biases and barriers that many said were set by the wealthy and the upper class.
For this reason, excluded communities worldwide are also turning to Web3 solutions to overcome these obstacles. Decentralized finance (DeFi) and non-fungible tokens (NFTs) are examples of the cryptocurrency or the Web3 built for people to access financial freedom and independence .
Uno Re to help disrupt the traditional insurance
As the traditional finance history points to financial-wide discrimination, some people felt left out of the systems. These incidents, combined with the problems faced by existing crypto-insurance protocols such as liquidity issues during crypto exchange hacks, blockchain protocol hacks, and others, led to the concept of Uno Re.
Uno Re is the world’s first decentralized insurance and reinsurance platform that aims to protect users’ investments. We strive to protect users’ funds from any vulnerabilities by decentralizing and democratizing insurance and reinsurance.
Uno Re also allows crypto holders to protect their assets using an easy-to-use process, letting them buy insurance coverage on any asset in their wallet through its DApp — Cover portal.
Aside from protecting users’ assets, Uno Re also allows users to stake in its various pools and earn numerous rewards, including its native token $UNO. By doing this, we give investors opportunities to generate passive yield on their crypto holdings via our native staking pools.
Uno Re does this by harnessing the power of blockchain technology to bring transparency into the whole insurance and reinsurance market.
About Uno Re
Uno Re is the world’s first decentralized insurance and reinsurance platform, allowing the community to invest and trade in ‘risk’ and receive sizable returns on their investments in one of the safest asset classes in the world. The platform will break barriers to entry for the retail investor by doing away with the historic pre-requisite of absurdly high capital generally needed to invest in the market while also introducing much-needed transparency into the industry as a whole. Uno Re will also allow the community to propose innovative insurance products to the space, thus propelling a new generation of Insurtech companies powered by the Uno Re ecosystem.
