You may have heard things about cryptocurrencies and decentralized finance. How are these developments going to impact areas that range from insurance to employment to litigation?
Aaron Kouhoupt: My name is Aaron Kouhoupt, and I'm a Member in our Consumer Finance practice group. I work out of the Cleveland office of McGlinchey Stafford. I am excited to bring you the next episode of our Deep Dive series into DeFi, and I'm joined by colleagues from across the firm to discuss how DeFi may interplay with areas like insurance, employment, and, while we hope you don't find yourself there, litigation. I'm going to start with my partner Lauren Ybarra, who is an insurance regulatory attorney working out of Austin, Texas. She's going to talk a little bit today about DeFi in the insurance space.
Lauren Ybarra: Thanks, Aaron.
Aaron Kouhoupt: Thank you for being with us today, Lauren. We've been talking a lot about how DeFi works in the financial services industry. Really what you hear about, primarily, is crypto coins and all of these other things. What we're interested in today is how does that impact insurance. And is there a future where this is in the insurance realm?
Lauren Ybarra: So when people think of DeFi insurance, they can refer to either blockchain-based insurance as a replacement or traditional insurance as we know it, or it could be insurance that covers DeFi-related activity. For decentralized insurance, it is a new area of "parametric" or what we're calling "smart...
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