blockchain News

California Workers’ Comp Rating Bureau Exploring Blockchain, Behavioral Science

One wouldn’t normally associate blockchain with workers’ compensation, two completely different industries that seem worlds apart. But as it turns out, the technology is of value to at least one very important entity in the space. The Workers’ Compensation Insurance …

B3i Chooses R3’s Corda Blockchain Platform for Development of Business Network

B3i, The Blockchain Insurance Industry Initiative, has announced it will build its applications and business network on the Corda blockchain platform, supplied by software firm R3. Following an extensive evaluation, which focused on the critical success factors of data privacy, …

Financial Services Industry Boosts Blockchain Spending

The financial services industry is spending about $1.7 billion per year on blockchain, as banks and other firms move beyond the proof-of-concept stage and start rolling out commercial distributed ledger technology (DLT) products. That’s a conclusion of a new report …

First Blockchain for Marine Insurance Now Running

A blockchain that is said to be the first for $30 billion marine insurance is now in commercial use, according to a coalition of technology, insurance, marine and consulting businesses. EY, Guardtime, A.P. Møller-Maersk, Microsoft and insurance partners Willis Towers …

Password Stolen; Create a New One. What If Your Retina Scan or Fingerprint Is Stolen?

A retail store’s ability to authenticate customers by scanning their unique ear or retinal patterns may seem like something out of a sci-fi movie, but this type of identification technology isn’t fictional. It’s called biometric authentication, and it has grown …

Blockchain Innovators Follow Reinsurers to Bermuda ‘Sandbox’

It was the last day of the World Economic Forum in Davos and Wayne Caines, Bermuda’s minister of national security, was about to head home after an exhausting week. But before leaving, he told a group of blockchain enthusiasts, “If …

Beazley, Lloyd’s Broker, Bitfury Creating Blockchain Registry for Crisis Coverages

Insurer Beazley has partnered with three companies to build a blockchain-based registry that will manage insurance for crisis situations such as mass shootings, the companies told Reuters. The registry will use blockchain to speed a response to mass casualties and …

Blockchain Revolution to Hit Shipping Industry – with Potentially Huge Cost Savings

Globalization has brought the most advanced trading networks the world has seen, with the biggest, fastest vessels, robot-operated ports and vast computer databases tracking cargoes. But it all still relies on millions and millions of paper documents. That last throwback …

Marsh Develops Commercial Blockchain Solution for Proof of Insurance

Marsh announced it is collaborating with IBM, ACORD and its client, ISN, to develop a commercial blockchain solution for proof of insurance. By using blockchain, or distributed ledger technology, Marsh said the certificate of insurance process will be transformed “from …

Blockchain Insurance Industry Initiative, B3i, Forms Company Called ‘B3i Services’

The Blockchain Insurance Industry Initiative (B3i) announced the incorporation of B3i Services AG in Zurich, Switzerland. The company was formed by the founders of B3i, which previously operated as a collaborative initiative of 15 global insurers and reinsurers who came …