The insurance model is an engineered rugpull: extract from all, deliver to few, with the state enforcing participation. The real scandal isn’t their denial tactics, it’s our collective indifference to being fleeced.
So if this is the system, how do we build parallel structures; mutual aid, Bitcoin rails, and decentralized networks that actually serve people instead of exploiting them?
Crowdhealth changes this up in healthcare
Yup... That was my thought too. Although, I haven't made the switch yet
Pay me little boy
Stack sats with a mutual aid wallet with many participants and a board of directors that manages the payouts for claims? It it’s off fiat and BTC only it will probably grow like a policy that pays an annuity. Perhaps it’s like insurance and an investment vehicle?
I’m really not sure what this model should look like, but, the possibility of this being better than fiat retard insurance is guaranteed
I like the start of where you’re going.
The tension point is the board of directors or judges or escrow auditing arbitrators: all centralized and libel to human foibles. Maybe a DAO with some sort of Proof-of-Need mechanism that is hard to game involving social, medical, and probability algorithm via anonymous ID check on a bitcoin blockchain-hardened DiFi tunnel.
Ankor is doing money insurance maybe parts of their model could work for health insurance? This is a huge juicy low hanging fruit for an industry begging for disintermediation. CrowdHealth is another potential model to emulate and improve upon. Let’s get it.
People seriously need to talk more about the insurance industry. Everyone knows bankers are scammers, that's no longer a secret nowadays in the advent of cryptocurrency. But most normies have zero clue how insurance companies are scamming them, until it's too late.
