AIG teams with IBM to use blockchain for ‘smart’ insurance policy — from reuters.com by Suzanne Barlyn
Excerpt (emphasis DSC):
Insurer American International Group Inc has partnered with International Business Machines Corp to develop a “smart” insurance policy that uses blockchain to manage complex international coverage, the companies said on Wednesday.
AIG and IBM completed a pilot of a so-called “smart contract” multi-national policy for Standard Chartered Bank PLC which the companies said is the first of its kind using blockchain’s digital ledger technology.
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IBM has been partnering with leading companies in various industries, including Danish transport company Maersk, to create blockchain-based products that can streamline complex international dealings across sectors.
Blockchain technology, which powers the digital currency bitcoin, enables data sharing across a network of individual computers. It has gained worldwide popularity due to its usefulness in recording and keeping track of assets or transactions across all industries.
From DSC:
Why post this item? Because IBM and others are experimenting with and investing millions into blockchain-based technologies; and because the manner in which credentials are stored and recognized will most likely be significantly impacted by blockchain-based technologies. Earlier this year at the Next Generation Learning Spaces Conference in San Diego, I mentioned that this topic of blockchain-based technologies is something that should be on our radars within higher education.
