Next up at #SmartCon is a panel about institutions coming to DeFi (Risk Premium) 
Yann: founder of Otonomi, started two years ago, tech product for aviation, automate claims and settlement using one of the most amazing technologies (aka Chainlink)
Ricky: @NexusMutual head of BD, largest decentralized insurance on Ethereum, cover crypto assets, covering $500-600M, use Chainlink for all price feeds and pool data
Akin: @Onrampinvest chief innovation officer, access to RIAs, provide education and tools to structure portfolios, investment advisors education, to include crypto assets
Noah: @ArmaninoLLP (top 25 public auditing firm in US by revenue), lead public digital asset practice, supporting crypto projects in their accounting and audits, build products, leader in digital assets
Akin: Three core barriers, lot of financial advisors work in traditional space, same tech stacks in past 100 years, education is core, clients are holding assets away from them to access crypto, getting them to understand how crypto assets work and money markets, PaaS
Regulation, financial players are not aware of the new regulations and how to navigate the space, how to thing about accounting for become confident in crypto
Yann: Confusion in insurance about crypto and blockchain in regards to automation, education is key to understand you can use blockchain to bring clarity to terms of agreement (beyond speculation of asset value), getting comfort in automating the process not firing people
Ricky: Regulation is key to tap into partnerships with TradFi players, many people in blockchain space has a knee jerk reaction, but to scale this 100x bigger, needs a regulatory framework worldwide,
Noah: Regulatory frameworks are shifting and evolving, many players already have clarity, audit frameworks in place, tax landscape is moving, crypto is property (Capital gains), gotta deal with the data, in US we need holistic framework and additional clarity
Chamber of digital commence shout out
Ricky: Sell cover (insurance for custody hacks) for centralized lenders, as they get more assets, billions of dollars are being deployed and needs to be covered, diligence before deploying funds is always needed before deploying funds
Ricky: Sell cover (insurance for custody hacks) for centralized lenders, as they get more assets, billions of dollars are being deployed and needs to be covered, diligence before deploying funds is always needed before deploying funds
Akin: Shift in thinking about risk, risk in DeFi is different than TradFi, (TradFi counterparty is legal entity, in DeFi it's a protocol), money markets are overcollateralized, look at the data of performance, risks less about counterparty more about how the protocol works
Counterparty is quite different in DeFi, make better risk adjusted invements
Noah: Agreed, traditional approach to risk assurance in capital markets, needs to come to crypto and DeFi in some form, but going to be same in spirit but different in implementation
Noah: Agreed, traditional approach to risk assurance in capital markets, needs to come to crypto and DeFi in some form, but going to be same in spirit but different in implementation
Been working on proof of reserve, centralized exchange counterparty, extend those ideas to DeFi and it becomes more difficult, info is there but how do you make it more useable
Noah: investment arm, represent cooperates, co-founders of token bridges, family offices can be more nimble, flatter organization, funds have more bindings and have to move more slowly, stand up a new offering
Yann: People view smart contracts as ideal tech for process automation, digital counterparty, more independence of tacking those risks
Akin: Onramp is a trusted advisor, filtering, what kinds of DeFi protocols do we interact with, filter the risks and present to clients
Akin: Onramp is a trusted advisor, filtering, what kinds of DeFi protocols do we interact with, filter the risks and present to clients
When you start interacting with DeFi smart contracts, smart contract risks, reengage with insurance providers to provide those new coverages, room for a lot of insurance innovation, determine what the risks are and crafting new insurance products
Yann: Running a beta program, insurance partners, combing underwriting air freight risk along with pick up of DeFi, decentralized risk management
Ricky: Space moves so fast, launched three new crypto insurance products in last year, already need for newer products, rolling out newer products in next 6 months, upgrading insurance product for capital efficiency
Noah: Armanino developed trust explorer, real time attest for $5B in value TrueUSD, etc, API endpoint to on-chain environments through #Chainlink, running an oracle node on the @Chainlink Network, add more feeds and more PoR
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