RE: The Untrusted Cooperative
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The insurance example is a great one. In the same way, DeFi tools are taking liquidity pools from users, and distributing the swap fees they charge users exchanging into the users offering the liquidity, a similar solution for insurance products could be created. Actually, Vigor, the EOS project which is about to launch offers loans of the VIGOR stable coin (pegged to the USD) to users who provide crypto collateral, but on top of the collateral, there is an insurance pool provided by users who want to take the risk of covering the loan in case of bailout due to huge price changes which may cause the collateral to be insufficient. Then, part of the fees the users are paying when asking for a loan are given to the insurers.
I believe we are not that far away from seeing this kind of DeFi Insurance solutions.
That is really interesting, thanks!
The potential for all of this to reorganize many aspects of what we have come to think of as "the way it is done" is huge. It can be highly disruptive to industries while shifting our value as people into a far more healthy ecosystem.
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ENGAGEtokens.