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Hacks, losses in cryptocurrency offer vast opportunity for insurers
Cryptocurrency-related insurance is a vast untapped market, with less than 1% of crypto investments covered amid hacks and losses in the industry running into the billions of dollars, Cointelegraph reported, citing an executive from decentralized insurance protocol InsurAce. See related article: DeFi insurance: Why buy coverage for your digital assets? Fast facts Dan Thomson, the […]
FDIC clarifies that cryptocurrencies are not insured
The U.S. Federal Deposit Insurance Corporation (FDIC) clarified in a statement on Friday that it only protects insured bank customers in case a bank fails, and not assets issued by crypto companies. See related article: Crypto lender Voyager ordered to stop misleading claims over deposit insurance Fast facts The FDIC’s comments come a day after […]
Top 5 blockchain trends for 2022 and beyond
Looking beyond this year’s headlines like El Salvador’s Bitcoin adoption, here are the key developments in blockchain technology that will have lasting impact in the new year and beyond.
Over 90% of the world’s poor are not insured, but blockchain could soon change that
Blockchain and parametric insurance offer a bigger safety net for the world’s most vulnerable, writes Jan Stockhausen of Etherisc. Here’s how it works.
Chinese insurer Ping An seeks digital yuan payments for new Covid-19 policy
China’s trial of e-CNY, the digital version of the national currency, the yuan, has extended to the insurance industry, with conglomerate Ping An encouraging medical staff in the southern city of Shenzhen to pay premiums for a Covid-19 insurance plan using the new currency. Fast facts One Ping An branch in Shenzhen is offering insurance […]
DeFi insurance: Why buy coverage for your digital assets?
Insurance policies for DeFi can cover losses from theft to smart contract issues. But do read the fine print — and know the industry is ‘self-regulated.’
As coronavirus infections skyrocket, blockchain speeds up health care claims and maps out epidemic
Xiang Hu Bao policyholders use Alipay to claim a 100,000 yuan disbursement through a blockchain-powered system, demonstrating the technology’s potential in health care.
China’s used-car market is revving into blockchain solutions
Around the world, the used-car industry is notorious for being one of low trust and high incidences of fraud. That also makes it an industry ripe for innovation as it has not adopted effective enough technology to prevent fraud and contain costs.