The Backed Protocol – Cryptocurrency Insurance Goes Decentralized

The Backed Protocol is a next-gen decentralized insurance network. The protocol wants to offer protection against losses for cryptocurrency traders while giving control back to them, rather than the huge insurance conglomerates currently dominating the market. What Problems Does The Backed Protocol Attempt to Fix? The developers behind the Backed Protocol seek to provide users with a new insurance model that eliminates centralization in the market. Today, the insurance sector is dominated by billion-dollar corporations. These large firms enjoy near…