September 02, 2022 - 2 min read
SupraOracles is excited to partner with Cover Compared, a novel decentralized business model creating the first insurance marketplace for the global cryptocurrency market. Cover Compact is redefining the current insurance industry and uses blockchain and cryptocurrency to amend some of the shortcomings of the current market.
By integrating insurance and blockchain into a unified platform, Cover Compared offers lower insurance policy costs while still ensuring users have the same high-quality insurance protection. Additionally, within the Cover Compared marketplace, users are connected with multinational insurance companies and will further rely on smart contracts to complete any transaction.
Cover Compared will be able to ensure that data accuracy is guaranteed in the marketplace. Using SupraOracles’ decentralized oracle service, Cover Compared has access to untampered off-chain data, which can connect clients and providers through a decentralized system. Even more so, Cover Compared will be able to utilize SupraOracles to provide additional DeFi incentives to platform users.
Joshua D. Tobkin, CEO and Co-founder of SupraOracles, commented:
“There’s a growing demand for frictionless processes to be set in place in the insurance realm. The Supra team is looking forward to collaborating on this project and having SupraOracles provide the necessary infrastructure data to help Cover Compared succeed.”
SupraOracles wants to bridge the gap between traditional capital markets and the web3. Our goal is to give the developer community a breakthrough oracle toolset that allows them to effortlessly build, deploy, and manage data applications with improved performance, robustness, and agility.
Experts in consensus mechanism design, randomness research, real-time data services, investment banking, digital securities, traditional stock exchanges, big data, Ph.D. academics, big four consulting, blockchain/DLT, and DeFi make up our team.
With the support of our developer community and a growing number of partners, SupraOracles hopes to solve the oracle problem and eventually power the future of finance.
CoverCompared is the First DeFi insurance marketplace for the global crypto ecosystem. We aim to lower transactional and administrative costs of insurance policies and coverage while providing high-value, cost-effective insurance products bought using a host of cryptocurrencies.
Our platform will be connecting users with multinational insurance providers for all global insurance products such as crypto-related protection, health, life, and travel policies. The platform will include a frictionless insurance marketplace experience incorporating next-generation blockchain technology and tokenized incentives.
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