There is so much that is just laughably absurd, it’s hard to know where to start.

Let’s take this doozy:

“Insurance is ideally suited to the blockchain. It is an old industry with a bad reputation of insurance companies happily collecting premiums and doing all they can to avoid payouts. Blockchain can change all that. Claims can be paid instantaneously based on predefined criteria made possible by smart contracts.”

So, the logic here is hilarious… or scarily nonsensical:

1. insurance will now be offered by a whole new non-existent set of entities.

2. The rules of what leads to approval will be changed just because they’ll be administered by algorithms

3. The insurance providers (whoever they are) will suddenly become nice and generous because….THEY’RE ALGORITHMS!

And what gets listed as “players” in this new world:

1. An unfinished defi protocol - Uniswap

2. Yearn – No insurance product but more chances to invest in scams

3. Binance – A Chinese crypto exchange

Q: ARE THERE REALLY FOOLS OUT THERE WHO FALL FOR THIS?

A: SADLY, ALL TO MANY