In our 2023 thematic outlook, we highlighted that on-chain insurance is a DeFi sub-sector that remains underdeveloped.
Today, DeFi has largely covered the services offered by TradFi, such as payments, lending and exchanges; as well as central, commercial and investment banking services.
There is also DeFi insurance (or more accurately termed as ‘DeFi cover,’ since the solutions provided are more discretionary than contractual; and may not be regulated), but presently it is not being offered as extensively as traditional insurance
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