In a new research report released today, CoinDesk looks at how blockchain technology can disrupt one of the world's oldest financial products.
Blockchains for Insurance takes a deep dive on the potential effect of distributed ledger technology on the insurance industry. In the report, CoinDesk talks to the startups and incumbents making this happen, gives an overview of the technology involved, and shares the insights of industry insiders on the outlook for the sector.
The scope is huge. These businesses aim to streamline a $5tn industry that touches almost every aspect of the global economy.
But the potential impact is much deeper than increased efficiency, transparency and security. The report shows how blockchain technology could bring about a fundamental change in the nature of the insurance market, transforming underlying concepts and opening the sector up to new types of participants.
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Ethereum's New Blockchain Consortium Could Run on Experimental Tech According to sources, the soon-to-be-launched Enterprise Ethereum project is considering using blockchain technology for its governance and decision-making, relying on smart contracts and a decentralized structure. Read more.
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EU Parliament Report Explores Blockchain's 'Substantial Impact' The report aims to provide an educational framework for members of the EU's legislative branch, and explores use cases including digital currency, patent protection, e-voting and smart contracts. Read more.
One of the world's oldest financial products and the $5tn industry that powers it may be in for a change thanks to blockchain tech. Our 44-page deep dive into one of the most exciting industry sectors illustrates how thought leaders believe five fundamental facets of the insurance industry could be forever changed by distributed ledger tech.
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