Wealth & Investing
London, United Kingdom
Investments and Asset Management
Description‘The cryptocurrency sector has an incredible opportunity to transform many industries,’ says Hugh Karp, founder of Nexus Mutual. ‘Opportunity exists’ for those he describes as having ‘true business expertise’, able to execute on ‘highly technical projects’. Nexus Mutual is a ‘decentralised alternative to insurance’, using business-ready ‘smart contracts’ covering niche risks for the cryptocurrency community: reinvigorating the original insurance structure with cutting-edge blockchain technology. ‘Our main initial clients will be other cryptocurrency start-ups and community members that have risks they need covered,’ says Karp, an insurance professional of 15 years. He started his career in Australia holding various actuarial roles before moving to London with Munich Re where he became the CFO for their UK life operations. With the crypto and blockchain space often overshadowed by negative headlines focusing on hacks, institutional naysayers and price volatility, Karp tells Spear’s that HNWs must look to the long-term potential of the underlying technology. ‘People think cryptocurrency is all about short-term speculation or buying drugs online – they may miss that the foundations of a potentially large-scale, technology-driven, social change are being built.’ Karp says Nexus has the knowledge and wherewithal to ‘build something valuable that actually makes sense’.
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