Why the Danish Red Cross put a volcano catastrophe bond on a blockchain
April 14, 2021, 6:50PM EDT · 5 min read
Quick Take
- The Danish Red Cross has teamed up with blockchain startup Replexus to issue a blockchain-based volcano catastrophe bond.
- So-called cat bonds let the relief organization raise money that can be spent immediately in the event of a disaster.
- But why does the bond need a blockchain?
The Danish Red Cross uses "cat bonds" to raise cash that can be spent when disaster strikes. Here's why it's now involving a blockchain.
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