No, that headline was not created by a random buzzword generator – fun as that could be as a side project.
This is science fiction. If I worked for a big management consulting company I would call it Scenario Planning. Or you can call it “Venture Wanted”. AFAIK no venture addresses this need. If I am wrong, please tell me.
The idea came from reading our new Author, Ilias Louis Hatzis, who is writing our Blockchain, Bitcoin & Crypto weekly post on Monday.
The issue he was addressing was how Crypto Exchanges such as Mt Gox and Bitfinex have lost a lot of customer funds. He described traditional insurance addressing the problem in Japan (which we reported on here) but he also floated the idea of an an FDIC like organization for Bitcoin/Cybercurrencies and the idea from Andreas Antonopoulos that Bitcoin exchanges should create a “common risk pool fund”, that would insure customer funds in case of theft. Maybe a P2P Insurance venture looking for an early adopter market with a serious pain point is listening?
If you like this idea and want to contribute to making it happen – or know of a venture already offering it, please go to this thread on the Fintech Genome – the place where great conversations make things happen.
Bernard Lunn is a Fintech deal-maker, investor and thought-leader.
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