3Jane founder Jacob Chudnovsky asserts that previous DeFi credit solutions failed due to inadequate underwriting and insufficient legal frameworks

Quotes that support claims

3Jane founder Jacob Chudnovsky told The Block that previous attempts have been made to provide unsecured credit in the digital assets market but have failed due to a lack of “robust” credit underwriting and legal recourse. With underwriting in crypto, the major challenge is that practically all credit-based interactions deal with mortgages, auto loans and credit cards, which exist offchain, said Chudnovsky, adding that he believes 3Jane has solved this dilemma.