Coin

<ul class="wp-block-list news-points"> 
 <li><strong>Vitalik Buterin believes that insurance DAOs are quite “underrated.”</strong></li> 
 <li><strong>Buterin added that a decentralized insurance system is symmetrical.&nbsp;</strong></li> 
 <li><strong>The Ethereum co-creator said that insurance DAOs will ensure “less imbalance of incentives.”</strong></li> 
</ul> 
<p>Vitalik Buterin, the co-creator of Ethereum, weighed in on the potential of blockchain technology to the modern insurance industry. He stated how much <a href="https://trepo.tuni.fi/bitstream/handle/10024/119890/Silia%CC%88maaRosa.pdf?sequence=2&amp;isAllowed=y" target="_blank" rel="nofollow">insurance DAOs</a> were “underrated” hinting the sector had immense potential.&nbsp;</p> 
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   <p lang="en" dir="ltr">Modern insurance is generally not symmetric. Consumers pay a fixed premium, and the company shareholders get more if they deny more claims and less if they accept more claims. Two classes of participants.</p>— vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1836623740698005776?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">September 19, 2024</a>
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<h2 class="wp-block-heading" id="h-the-problem-with-traditional-insurance">The Problem with Traditional Insurance</h2> 
<p>DAO cartographer <a href="https://x.com/owocki/status/1836056314612469916" target="_blank" rel="nofollow">@owocki</a> took to social media platform X (formerly Twitter) to declare that “insurance is the biggest scam in modern finance.” He urged the digital asset community to build a “transparent/fair crypto-based insurance,” pointing out that insurance companies often keep the money that policyholders pay and then find “arbitrary and capricious reasons” to deny claims. In response,…</p>
<p>The post <a href="https://coinedition.com/buterin-insurance-daos-offer-less-imbalance-of-incentives/">Buterin: Insurance DAOs Offer ‘Less Imbalance of Incentives’</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Buterin: Insurance DAOs Offer ‘Less Imbalance of Incentives’

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