Daily Fintech Conversations

Venture Wanted - P2P Insurance for Bitcoin exchanges

Mostly we write about ventures trying to find their market. In this case we are doing the opposite. We are writing about a problem and inviting the community to either tell us about an existing solution or come together to co-create a solution.

The problem is how to enable newcomers to Bitcoin to convert from Fiat to Bitcoin without worrying about funds getting stolen (as they were on Exchanges such as Mt Gox and Bitfinex).

One solution is a form of insurance, some kind of “common risk pool fund”, that would insure customer funds in case of theft.

Call it a free market alternative to government schemes such as FDIC.

Maybe a P2P Insurance venture looking for an early adopter market with a serious pain point is listening?

Fintech Genome is the place where great conversations make things happen. Chip in to help make this happen (or tell us if it already exists).

1 Like