IBM Partners With Insurance Company

IBM is collaborating with Marsh, ACORD and ISN in order to bring commercial blockchain solution for proof of insurance
17 April 2018   556

According to the Business Wire report from April 16, IBM is collaborating with Marsh and other companies including ACORD and ISN in order to bring commercial blockchain solution for proof of insurance. Marsh is a company which provides industry-focused consulting, brokerage, and claims advocacy services, and leverage data, technology, and analytics aiming to reduce the clients’ total cost of risk.

Marsh is built on the Hyperledger Fabric technology and IBM Blockchain, and it will develop the commercial proof of insurance solution "in conjunction with IBM, with input from ACORD, and customer feedback from ISN".

Marsh sees great opportunity in leveraging blockchain technology to better serve our clients by maximizing efficiency and creating new opportunities in the insurance value chain. We believe strategic engagements such as this one with IBM, ACORD, and ISN will help accelerate the adoption of further blockchain applications benefiting our clients across industries.

Sastry Durvasula

Chief Digital Officer, Marsh

Sandip Patel, general manager of insurance industry at IBM, stated that IBM is aiming to connect emerging blockchain networks to facilitate the next generation economy, and they find collaboration with Marsh an ideal example of how blockchain can be used on a broader scale to drive real business results.

Santander to Deny XRP Token Usage Info

It turned out that bank uses xCurrent in One Pay FX instead of XRP token for international payments, as it stated earlier
25 March 2019   71

Santander, a large Spanish bank, in its Twitter spread incorrect information about cooperation with Ripple.

And although the majority of cryptocurrency holders reacted positively to the statement of Santander, some of them drew attention to the fact that this news had no effect on the growth of XRP trading volume.

It soon became clear that the bank provided incorrect information.

xCurrent allows Ripple customers to make payments using Fiat as well as digital currencies. A similar product, the operations in which are carried out using XRP cryptocurrency, is called xRapid.

Despite the official apology, some commentators suspected the bank of manipulating the market.