The Shanghai Stock Exchange and Insurance Asset Management Association of China have agreed to cooperate on improving the insurance and pension industries with the use of blockchain tech.
China Securities Journal newspaper reported on the partnership Monday, August 20.
China Securities Journal wrote that the SSE, the world's fourth largest stock exchange, was joined by several major insurance industry players, including the IAMAC, Changjiang Pension Insurance Company, Tokyo Maritime Sunshine, and others.
The stated goal of the new group is "To create a new, high-efficiency, low-cost and safer insurance industry" through the use of blockchain technology.
"The digital transformation of enabling insurance will build a blockchain service platform to solve the bottleneck problem of enterprise innovation. With convenient and efficient application development, flexible deployment mode and visual monitoring and operation platform."
As Cointelegraph reported July 12, the Shanghai Stock Exchange had revealed its plans to use blockchain in its securities transactions, indicating the increasing level of adoption of the distributed ledger technology by larger institutions.
Last week, a major U.S.-based entrepreneurial accelerator Y Combinator announced the launch of its new China-based division to "Build a long-term local organization that will combine the best of Silicon Valley and China and create a lot of innovation."
Earlier this month, Intercontinental Exchange, which operates the New York Stock Exchange, has unveiled its plans to build an "Open and regulated, global ecosystem for digital assets" in cooperation with Microsoft and others.
Shanghai Stock Exchange Partners With Major Insurance Firms to Improve Industry With Blockchain
에 게시 됨 Aug 20, 2018
by Cointele | 에 게시 됨 Coinage
Coinage
최근 뉴스
모두보기
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.