US Treasury Insurance Advisors to Discuss Blockchain
An advisory council to the US Treasury Department focused on the insurance market will discuss blockchain tech at a meeting later this week. Set for tomorrow afternoon in Washington, DC, the Federal Advisory Committee on Insurance (FACI) will discuss a range of issues, according to publicly available materials, including the use of the tech in the US insurance market. The government said of the hearing: “In this meeting, the Committee will discuss a number of issues, including blockchain technology in the insurance sector, the changing auto safety landscape, and an overview of insurance....
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An advisory council to the US Treasury Department met last week in Washington, DC, to discuss the application of blockchains in the insurance market. While the discussion itself was relatively brief (taking place in the middle of a nearly three-hour meeting), it did offer a window into the perspective being taken by some of the stakeholders on the council, as well as the government department itself. Matt Higginson, an associate partner for management consulting firm McKinsey, led a presentation at the hearing during which he offered an expansive view of the technology as well as a....
The blockchain technology has now entered the insurance sector, making it possible for the insurance companies to offer policies to suit the customers' needs. The use of blockchain technology in insurance sector is something relatively new. London, the fintech destination of Europe is the first one to explore the potential uses of distributed technology in the insurance industry. The Capital of England already has a couple of companies who have already implemented it into their offerings. The blockchain is known for its transparency, security, immutability and reliability. All the....
The U.S. Treasury Department is reported to have held meetings with participants from the country’s financial industry to discuss “the risks and benefits posed by stablecoins.” In addition, officials are said to have used the meetings to discuss “whether stablecoins would require direct oversight if they become extremely popular.” Policymakers Alarmed by Growth of Crypto Market According to a report, the meetings come on the heels of a “rapidly expanding cryptocurrency market which exceeded a record $2 trillion in April.” This rapid growth....
Five insurance giants, Aegon, Allianz, Munich Re, Swiss Re and Zurich, which in combination manage trillions of dollars in assets, have launched a blockchain initiative B3i to study the feasibility of the use of blockchain technology for insurance and to launch a blockchain based insurance proof of concept. “We are thrilled that Allianz is investigating emerging technologies such as Blockchain together with other key insurance industry players”, said Christof Mascher, Chief Operating Officer of Allianz Group. “This initiative, enabling alternative operating models based on the Blockchain....
Grayscale Investments has partnered with Icapital Network to provide more than 6,700 advisors access to its cryptocurrency investment products. “Advisors and their clients have expressed increasing appetite for uncorrelated return potential in their portfolios, and digital currencies are at the center of the conversation right now,” said the CEO of Icapital.
Over 6,700 Advisors Now Have Access to Grayscale’s Crypto Investments
Grayscale Investments announced Monday a partnership with Icapital Network, a platform connecting advisors and high net worth....