What is Nexus Mutual?
Nexus Mutual offers an alternative of insurance. It's a people-powered platform built on Ethereum. The system allows users to solve any risk issues together without the involvement of insurance associations. It offers smart contract covers, which means to secure risk and possible errors in the code as in the case of DAO hack or Parity multi-signature wallet problems. Nexus Mutual is managed solely by its members. Only they can decide which requests are allowable. All member decisions are registered and supported by smart contracts on the Ethereum public blockchain. Smart Contract Cover is not a contract of insurance. Fellow parts will face the issues of payments by voting. Claims payments are enforced by token driven economic purposes. Isn't it way better than trusting an insurance company? Membership rights will be depicted by tokens. Tokens can be practised to purchase coverage as well as take part in case analyses, risk evaluation and management. All capitals made from token trades belong to members.