Canada, Feb 1, 2021 /AlexaBlockchain/ – Paid Network has forged a new partnership with Bridge Mutual (BMI), a blockchain-based decentralized insurance application that allows users to insure each other, utilizing a three-stage voting process, higher levels of transparency and fast turnaround times on claims.
Bridge Mutual does not require branch offices, claims specialists, or agents to work and will act as PAID Network’s primary insurance partner, allowing PAID to insure the value of its smart contracts within its DeFi ecosystem. The new partnership with Bridge Mutual will allow PAID’s users to secure their business agreements through Bridge Mutual’s decentralized and discretionary insurance application.
Kyle Chasse, CEO of PAID Network, said:
“I am very excited about our partnership with Bridge Mutual. Their decentralized insurance protocol’s integration with PAID Network is fundamental in allowing us to successfully deliver on our commitment of providing insurance to cover our community’s value locked in PAID Network’s SMART Agreements. We couldn’t ask for a better strategic insurance partner.”
Mike Miglio, CEO and Co-Founder of Bridge Mutual, said:
“PAID and Bridge Mutual are both aiming to revolutionize systems that have been void of innovation for centuries. We’re looking forward to coming up with new and innovative ways to leverage what they’re creating beyond just making sure that their platform is insured.”
Lastly, those providing insurance to the PAID Network’s contracts will also be rewarded in PAID tokens (in addition to BMI and DAI) as an additional incentive through Bridge Mutual’s shield mining program.
