Blockchain opportunities trigger risks
Friday, 04 27 2018, Category: Technology, Country: World
Blockchain has the potential to become a game-changing technology for the insurance industry over the long term, but there are also risks, according to Fitch Ratings.
Blockchain, also known as distributed ledger technology, is used in a decentralized fashion to digitally record and verify a wide range and volume of information relating to commercial transactions. The technology was initially created as part of the bitcoin cryptocurrency network. Blockchain's transparency, security and information storage capacity have recently attracted other industries to explore opportunities to leverage this technology.
Source: Intelligent Insurer