Coordinated Global Regulation of Cryptocurrencies Needed: Circle CEO

Article 0 Comments Major economies should launch coordinated regulation of cryptocurrencies, the head of Goldman Sachs-backed startup Circle said on Monday, underscoring growing industry support for international rules on digital money. “Ultimately there needs to be normalization at the G20 level of critical crypto-related regulatory matters,” Jeremy Allaire, CEO of […]

Marsh Develops Blockchain Solution for Clients in Sharing Economy

Article 0 Comments Marsh announced that it is developing the first blockchain-based verification solution for clients in the fast-growing sharing and gig economies. Working in collaboration with Evident, a data security platform that allows businesses to run comprehensive, accurate verifications without handling sensitive personal data, the new blockchain solution aims […]

Greenlight Re Invests in Hong Kong-Based Blockchain Business

Article 0 Comments A division of Greenlight Capital Re has invested in a blockchain-related business based in Hong-Kong. The Cayman Islands-headquartered property/casualty specialist reinsurer said it pursued a strategic investment in Galileo Platforms through its Greenlight Re Innovations arm. Greenlight Re did not disclose the specific dollar amount, though the […]

Walmart Ready to Mandate Blockchain for Certain Food Suppliers

Article 0 Comments After several years of tests, Walmart Inc. is ready to mandate use of blockchain technology by a swath of its U.S. suppliers, marking one of its biggest commercial uses. Starting in September 2019, Walmart and its Sam’s Club division will require suppliers of fresh, leafy greens to […]

Global Insurers Realize Innovation Is Critical for Future Success: A.M. Best Survey

Article 0 Comments A significant majority of global insurers understand that innovation is increasingly becoming a competitive differentiator in the global marketplace, according to the results of an A.M. Best survey of its rated entities. More than 80 percent of survey respondents said that innovation was moderately to extremely critical […]

Industry Blockchain Initiative B3i Gets Ready to Go Live for January Renewals

Article 0 Comments The industry’s Blockchain Insurance Industry Initiative (B3i) announced a year ago it had developed a reinsurance blockchain prototype for a property excess-of-loss contract and asked the industry to help test it. The initial results are in. Months of testing by 40 insurers, reinsurers and brokers did identify […]

Crypto Prediction Market on Blockchain Raises Regulatory Concerns

Article 0 Comments The next confrontation between government regulators and a blockchain startup appears set to ensnare a prediction market platform that goes by the name Augur. After going live on July 10, Augur allows anyone to create contracts to predict future events such as the outcome of basketball games, […]

Interest in Crypto Insurance Grows, Despite High Premiums, Broad Exclusions

Article 0 Comments In the staid and buttoned-up world of insurance underwriting, few want to talk about it. You won’t find many ads promoting it or details on company websites offering it. But according to industry insiders, there’s a hot new business that more and more firms are looking to […]

Strategic Blockchain: Xceedance and ChainThat Gain Critical Mass

Article 0 Comments Xceedance decided to jump on the blockchain bandwagon late last year – but rather than building its own platform, it invested in ChainThat, a specialist provider of blockchain solutions for the insurance and reinsurance industry. ChainThat made a similar move in May 2018 when it formed a […]

CFA Institute Adds Cryptocurrency, Blockchain to Curriculum

Article 0 Comments It might be the definitive sign that cryptocurrencies have arrived on Wall Street. CFA Institute, whose grueling three-level program has helped train more than 150,000 financial professionals, is adding topics on cryptocurrencies and blockchain to its Level I and II curriculums for the first time next year. […]