News

Beef and insurance subrogation – a review of initiatives to implement the blockchain

Published

7 years ago

December 15, 2018

The traditional Saturday review of recent blockchain initiatives includes applications such as insurance and supply chains for Australian beef, as well as a large-scale blockchain campaign by the United Nations International Emergency Children's Fund (UNICEF).

South Korean Shinhan Bank uses blockchain to automate financial reporting

Where: South Korea
In which area: banking reporting
Objective: to eliminate the human factor from the process of processing financial statements
Who deals: Shinhan Bank
Technology used: unknown
Estimated implementation date: already used for interest rate swap transactions
Reference: The Korea Times

State Farm Insurance Company uses blockchain for insurance subrogation

Where: USA
In which area: insurance
Purpose: automation and optimization of the implementation of subrogation [insurer's rights to demand compensation from the person responsible for damage caused to the insured within the limits of compensation]
Who deals: State Farm
Technology used: unknown
Estimated implementation date: unknown
Link: Press Release

Australian National Transport Insurance uses blockchain to track beef shipments

Where: Australia
In which area: supply chain
Objective: Improve the integrity of supply chains as part of Australian beef exports.
Who is involved: National Transport Insurance, BeefLedger
Technology Used: BeefLedger Development
Estimated implementation date: unknown
Reference: ATN

UNICEF will allocate $ 100 thousand for the development of six blockchain startups to address global challenges

Where: worldwide
In which area: finance, health care, natural resource management, mobile communications
Purpose: solving global problems with startups from developing countries
Who deals: Atix Labs, Onesmart, Prescrypto, Statwig, Utopixar, W3 Engineers
Used technology: start-ups own development
Estimated implementation date: during the year
Link: Press Release