Coronavirus, insurance, and crypto: the limits of distributed system design
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Quick Take
- The COVID-19 pandemic will create massive insurance coverage disputes between policyholders and insurance companies
- The scope and type of disputes demonstrate the limitations of distributed crypto-economic system designs to the insurance vertical
- Future advances in insurance automation using blockchain would be most useful in connection with determinate decisions that can ruthlessly avoid and minimize human discretion, as opposed to complexity theater that adds human consensus and staking models to an already fraught and complicated process.
The COVID-19 pandemic is and will create massive insurance coverage disputes between policyholders and insurance companies.
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