Maersk, one of the biggest logistic company is the world, joined forces with Microsoft and blockchain company Guardtime in order to launch blockchain based marine insurance solution. This is reported by the CoinDesk.
— Maersk (@Maersk) 6 сентября 2017 г.
Developing with Microsoft Azure, the new product will allow to create common, shared database that stores information about shipments and potential risks, in order to help ships comply with insurance regulations. Blockchain based database will insure that data is ransparent across what is a complex network of variables.
The project has already been trialed, and Maersk plans to use it in real-world applications, along with insurers MS Amlin and XL Catlin.
Marine insurance is a prime example of a complex business process that can be optimized with blockchain.
CTO, Microsoft Azure
Reuters reported that the platform is already built and is planned for deployment in January.