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.

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.