AIG and Standard Chartered Test Multinational Insurance on IBM Blockchain

[kreslik.news]

American International Group Inc. (NYSE: AIG), IBM (NYSE: IBM) and Standard Chartered Bank plc have announced the successful pilot of a multinational, smart contract based insurance policy using blockchain technology based on Hyperledger Fabric.

The London Summit 2017 is coming, get involved!

The developers converted a multinational, controlled master policy written in the UK, and three local policies in the US, Singapore and Kenya, into a ‘smart contract’ that provides a shared view of policy data and documentation in real-time.

Rob Schimek, CEO of Commercial, AIG, said: “Our pilot proves blockchain has a powerful role to play in ... (read more)