🪴 The growing market for crypto insurance

🪴 The growing market for crypto insurance ⚔️ Square Enix has joined the group of validators on the Oasys blockchain 👑 Is the new king of the UK bullish on the blockchain?

GM, vEmpions! Our motto of the day is: "A little progress each day adds up to big results." We're not quite sure what that means, but it sounds good, so we're going with it. Today, we're going to be productive. We're going to make some progress. We're going to get things done. But first, check out what we have for you today:

🪴 The growing market for crypto insurance ⚔️ Square Enix has joined the group of validators on the Oasys blockchain 👑 Is the new king of the UK bullish on the blockchain?

The growing market for crypto Insurance

As the crypto industry continues to grow and evolve, so too does the need for insurance products that can protect investors from potential losses. Cryptocurrency-related insurance is a vast untapped market, with less than 1% of crypto investments currently covered amid hacks and losses in the industry running into the billions of dollars.

With the ever-present threat of hacks and scams in the crypto world, it's becoming increasingly clear that insurance coverage is a necessity for anyone looking to invest in digital assets. However, finding adequate coverage can be a challenge, as many traditional insurers are hesitant to enter the cryptocurrency space due to its volatile nature.

Enter InsurAce, a decentralized insurance protocol that is looking to provide coverage for crypto investors. InsurAce chief marketing officer Dan Thomson said that on-chain insurance can protect investors in digital assets from events such as when a decentralized finance protocol is compromised. He also called crypto insurance coverage a "sleeping giant" that has yet to be fully tapped into. InsurAce is currently the only protocol that offers on-chain insurance for digital assets, according to Thomson.

The company has already seen some success, having paid out over US$11 million to 155 clients who were covered during the TerraUSD (UST) collapse in May. This event sent shockwaves through the industry and highlighted the need for crypto insurance products.

As the market for cryptocurrency-related insurance continues to grow, InsurAce is well positioned to take advantage of this burgeoning industry. And with the cryptocurrency industry still in its infancy, it remains to be seen how big the market for crypto insurance will become. Given the billions of dollars that have been lost to hacks and scams in recent years, it's clear that there is a need for such products. As the industry continues to grow, we can expect to see more insurers enter the space and offer coverage for digital assets.

Square Enix has joined the group of validators on the Oasys blockchain

It's official: gaming giant Square Enix has joined the Oasys blockchain as its final initial validator. That means that, alongside 20 other companies including fellow Japanese gaming giants SEGA and Bandai Namco, Ubisoft, Yield Guild Games, WeMade, NEOWIZ, Netmarble and Com2Us, Square Enix will help to shape the future of gaming on the blockchain.

Of course, it's not all about work for Square Enix – the company is also looking to explore the feasibility of harnessing user contributions in the development of new games on the Oasys blockchain.

Square Enix is no stranger to blockchain technology. Earlier this year, the company said that exploring the development of decentralized games would be a major strategic theme for the company going forward. In April, it launched its own Blockchain Entertainment Business division. Square Enix also funded Animoca Brands subsidiary Grease Monkey Games to develop a blockchain-based play-to-earn racing game.

With the addition of Square Enix, the Oasys blockchain now has some of the biggest names in gaming on its platform. With such a strong foundation, the sky's the limit for what can be achieved on the Oasys blockchain in the gaming space. And with its latest move, Square Enix is signaling its intention to stay at the forefront of the blockchain gaming space. By joining the Block Gaming Alliance, the company will have access to a wealth of resources and knowledge that will help it develop the best possible blockchain games.

So far, the company has been relatively quiet about its blockchain gaming plans. But with this announcement, it's clear that Square Enix is committed to making a big splash in the space. We can't wait to see what they come up with next.

Is the new king of the UK bullish on the blockchain?

The new King of the United Kingdom of Great Britain and Northern Ireland, Charles III, is a interested in the blockchain technology. He even went so far as to publicly call it "an interesting development."

Although he never seems to have spoken on the subject during an official speech, the then Prince of Wales and heir to the throne in 2019 publicly called blockchain “an interesting development.”

It is not known exactly what he thinks about it now that he has become King, but Charles has always shown interest in new things, particularly in alternative solutions to mainstream ones.

So it wouldn't be surprising if, in private, he was still bullish on blockchain and its potential to change the world. After all, with a decentralized system of governance, the King would have a lot less power and influence.

But don't expect him to start campaigning for blockchain anytime soon. As head of state, he will have to be careful not to endorse anything too controversial or experimental, lest he be seen as out of touch with reality. After all, the monarchy has suffered several setbacks in recent years, and the survival of the institution is often called into question.

So it is likely that, for now at least, the King will stay silent on the subject of blockchain. But who knows? If the technology really takes off, he may one day be forced to take a stand.