In order to guarantee security and grow trust in the digital economy, a lot has been proposed, but nothing comes close to what the EOS community is proposing.
According to Ian Grigg, while recently in Kenya, there is a proposal to set up an EOS insurance fund that will help resolve disputes and fix problems during arbitration. The idea is to take a bit of the money earned by Block Producers and put it in a trust fund to help anybody who needs the money in case of a theft or loss.
Ian Grigg speaking at the first EOS Meetup in Nairobi, KenyaInsurance funds have always been used as security and guarantees in the traditional world. By borrowing this practice and bringing it to the blockchain world, it would be a relief to the EOS community and it should provide a safety net just in case anything happens. As we well know, the Internet is a hostile environment and providing some guarantees to one’s investment is always a welcome approach.
We will update on the proposed EOS Insurance Fund in due time.
