Establishment of a consortium dedicated to blockchain
Munich Re, Swiss Re, Allianz, Zurich and Aegon have announced the creation of a consortium dedicated to "blockchain".
Referred to as Blockchain Insurance Industry Initiative (B3I), this pool will allow its members to test the potential of this new technology for storage and transmission of information in the insurance and reinsurance sectors.
It's worth reminding that the "blockchain" is a historical database containing the history of the exchanges carried out between its users.
It is shared and protected against forgery by "nodes" of storage. According to consortium stakeholders, the "blockchain" could provide in the insurance industry, with an environment in which transactions and contracts will be stored on a shared registry, reducing thus the administrative workload in order to ensure consistency of contracts and of their execution.
Read also:
