Insurance Industry Making The Leap To Blockchain

Blockchain is making inroads into the insurance sector with the announcement of new initiatives aimed at expanding the use of the digital ledger technology. Last week’s news of the initiative between American International Group Inc. and Standard Chartered Bank P.L.C. was the latest in a recent run of activity around the insurance sector’s potential use for the budding technology. The pilot solution was built by IBM and is based on Hyperledger Fabric — a blockchain framework and one of the Hyperledger projects hosted by The Linux Foundation.