Tag Archives: blockchain

Will Blockchain Grow to be the Subsequent ‘Recreation-Changer’ for the



Blockchain know-how might help effectively and safely share knowledge, course of claims, and forestall fraud within the insurance coverage business. Nevertheless, the implementation and inception of blockchain in insurance coverage are nonetheless within the early phases. Moreover, corporations within the insurance coverage business nonetheless have a protracted strategy to go by way of actively working with business gamers to determine the very best methods to navigate the potential challenges of blockchain know-how.

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Key Advantages of Blockchain Know-how within the Insurance coverage Business (Graphic: Enterprise Wire)

To achieve complete insights and knowledgeable steering on effectively navigating the challenges of blockchain within the insurance coverage business, request a free proposal.

“Not solely does blockchain supply the promise of value discount and effectivity, nevertheless it might additionally allow income development, as insurers entice new enterprise by higher-quality service,” says an insurance coverage business knowledgeable at Infiniti Analysis.

Some of the notable tech tendencies, blockchain know-how, is a distributed, peer-to-peer ledger of data known as blocks that’s just about incorruptible. Within the insurance coverage business, this know-how presents the promise of value discount and effectivity. Greater-quality service and the side of self-management assist insurers entice new companies. The purposes of blockchain in insurance coverage are anticipated to revamp the way in which the insurance coverage business features. Though it’s within the early phases of inception and implementation, there are numerous advantages to efficiently implementing blockchain know-how within the insurance coverage business. Of their latest weblog, Infiniti’s consultants talk about 4 key advantages of using blockchain within the insurance coverage business.

Uncertain about implementing blockchain know-how in your group? To be taught the main advantages of blockchain know-how within the insurance coverage business, and why insurance coverage corporations ought to implement it, request extra info.

Infiniti’s consultants recognized the next 4 advantages of blockchain within the insurance coverage business:

  • Implementing blockchain in insurance coverage offers transparency in transactions and helps construct shopper belief.
  • This know-how helps corporations to confirm clients, insurance policies, and transactions simply, and forestall fraud.
  • Good contracts and blockchain know-how assist insurers and the insured handle claims responsively and transparently.
  • Blockchain drives safety and effectivity and permits people to manage their private knowledge whereas the verification is registered on the blockchain.
  • Acquire in-depth insights into the advantages of blockchain within the insurance coverage business by studying the whole article right here.

About Infiniti Analysis

Established in 2003, Infiniti Analysis is a number one market intelligence firm offering sensible options to deal with what you are promoting challenges. Infiniti Analysis research markets in additional than 100 nations to assist analyze aggressive exercise, see past market disruptions, and develop clever enterprise methods. To know extra, go to: https://www.infinitiresearch.com/about-us

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SOURCE: Infiniti Analysis

Copyright Enterprise Wire 2020.

PUB: 09/18/2020 08:03 AM/DISC: 09/18/2020 08:03 AM


Copyright Enterprise Wire 2020.


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Kuwait Bank Taps Ripple For Online Banking


The National Bank of Kuwait (NBK) has announced that it will incorporate RippleNet blockchain into its online banking platform, offering 24-hour wire transfers to Jordan, with more countries being added soon.

NBK Direct Remit allows for instantaneous money transfers around the clock. It will cost customers KD 1 ($3.29 USD) per transaction when transferring to NBK Jordan, and KD 5 when transferring to other banks in the country. Transfers to NBK Jordan accounts will receive instant credit, while funds sent to other banks will go through Automated Clearing House (ACH).

This is just the latest partnership for Ripple, which now services more than 100 financial institutions (FIs).

“We are pleased to announce that Bexs Banco, AirWallex, Credit Agricole, Cuallix, Currencies Direct, dLocal, IFX, Krungsri, RAKBANK and TransferGo, among others, have joined RippleNet,” the company said in a statement earlier this year. “The newest members can count themselves among SBI Remit, SEB and Siam Commercial, [which] also use RippleNet to send cross-border payments.”

Earlier this month, Ripple partnered with UAE Exchange, the United Arab Emirates-based company, to offer cross-border remittances to Asia using blockchain technology.

“Blockchain holds tremendous promise for the industry, but there is progress to be made before we see it go fully mainstream,” said UAE Exchange CEO Promoth Manghat. “We expect to go live with Ripple by Q1 2019 with one or two Asian banks. This is for remittances to start with, from across the globe into Asia.”

Also in December, it was revealed that Ripple has teamed up with NEM, Fetch.AI, and EMURGO/Cardano to create Blockchain for Europe, which is focused on promoting the understanding of the technology, and the “true nature” and potential of blockchain.

“Ripple is delighted to be a founding member of Blockchain for Europe,” said Ripple Head of Regulatory Relations Dan Morgan. “This is a critical time for policymakers in Europe, as they seek to develop the right regulatory framework to capture the benefits of both digital assets and blockchain technology.”



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