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   374

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.

Ethereum Scaling Solution Raiden to Launch Last Testnet

As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second
20 July 2018   137

On Thursday, July 19, at the Dappcon developer conference in Berlin, the last test network of Raiden for the Ethereum blockchain was launched, CoinDesk reports.

The release includes a minimal implementation of the scaling solution, which will allow the transfer of Ethereum tokens outside of the main blockchain. This is the last test phase before the introduction of technology into the core network of Ethereum.

It's the first step towards going to the mainnet. We really want people to really test this so we have a user interface, we have an API and we've created an open Github for everything they could find, so if we go hopefully bug-free on the mainnet.
 

Lefteris Karapetsas

Core Developer, Raiden

According to him, the new release represents an early implementation for the core network and contains a new rewritten code of smart contracts and payment channels that can be restored in case of unintended closure.

Also, Karapetsas urged developers to join the test network to help detect possible bugs, adding that a bounty program will be launched to encourage this activity.

The release date for the main network has not yet been assigned, but the developers intend to follow this earlier promise and launch Raiden this summer.

Karapetsas also promised to publish regular updates and code optimizations after the full release, adding that Raiden will complement other Ethereum scaling solutions that are currently being developed.

Raiden is essentially the payment channel network for ethereum, it's supposed to help us scale token transfers. The long term goal would be to have people use Raiden from a mobile device and be able to make off-chain token transfers just from their phone. That would be the long term vision, it would probably work in combination with various scaling solutions, sharding, plasma, a sort of hybrid.
 

Lefteris Karapetsas

Core Developer, Raiden

Raiden is developing from the 2015 and is written mostly on Python. The project is much like the Lightning Network. As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second.