Insured? Good! : Designing a Blockchain-based Credit Default Insurance System for DeFi Lending Protocols

Titelangaben

Guggenberger, Tobias ; Kuhn, Michael ; Schellinger, Benjamin:
Insured? Good! : Designing a Blockchain-based Credit Default Insurance System for DeFi Lending Protocols.
In: Proceedings of the 4th Middle East & North Africa Conference for Information System (MENACIS). - Agadir, Morocco , 2021

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Abstract

The rising popularity of blockchain has cleared
the path for developing numerous decentralized finance (DeFi) applications. However, insurance solutions for DeFi applications are still missing. Therefore, this article presents a smart contract-based P2P
credit default insurance solution using the Design Science Research Method. The design presents an approach to decentralize insurance systems by reducing
the number of intermediaries. The evaluation of the artifact shows that blockchain and smart contracts can
provide financial inclusion, reduce costs and automate
processes in insurance processes.