Big Boys Club: The Tale of Blockchain, Reinsurance, B3i and Dispute of 9/11 Aircraft
Our London correspondent Nick Ayton takes a look at B3i Reinsurance Club and what potential it holds for reinventing the sector on the eve of fresh announcements about new members. Recent catastrophes have shown the reinsurance industry hasn’t moved forward in decades and cannot deal with today’s risks let alone tomorrow’s. There is a clear need for change. Reinsurance is the practice of insurers transferring portions of risk portfolios to other parties. It is based on the agreement to reduce the likelihood of having to pay a large obligation resulting from an insurance claim. The....
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Multinational professional services firm PricewaterhouseCoopers (PwC) recently published a report saying blockchain technology could save reinsurance companies between $5-10 billion globally. PwC: Reducing Costs With Blockchain. PwC’s research shows that blockchain solutions could reduce the processing time and cost of placement, claims, settlement and....
PRESS RELEASE. UnoRe, the first decentralized reinsurance platform, is now allowing retail users to invest in risk. This opportunity is a part of the project’s vision to revolutionize the reinsurance industry, one that has been traditionally gatekept, preventing any significant innovation in hundreds of years. UnoRe aims to take steps towards alleviating the extreme global wealth gap – a typical millennial now holds 41% less wealth than a similarly aged adult in 1989. In contrast, the world’s richest 1% currently have more than twice as much wealth as 6.9 billion people....
Traditional investing is overwhelmingly dominated by men, but Web3 is a blank slate. With more women coming into the fold, we can break the narrative of exclusivity. There’s no denying the current narrative about Web3: it’s a boys club. And, if we keep affirming this narrative, it’s bound to come true. The truth of crypto as a boys club won’t just be detrimental to women — it’ll be detrimental to the entire promise and growth of Web3. Web3 is not an exclusive club designed to keep people out. It's a rising-tide-lifts-all-boats party that gets better every time someone new joins. The more....
The crypto industry is home to over 13000 cryptocurrencies, many of which were created to solve some of the major problems of our world. There are also thousands of entrepreneurs across the globe hatching ideas to use this revolutionary new technology for the betterment of the world. The industry presents a golden opportunity to investors, […]
The company featured in the bestselling book "Flash Boys: A Wall Street Revolt" reportedly plans to use the blockchain to build a more transparent gold exchange. Startup TradeWind Markets, which recently spun off from The Investor's Exchange (IEX), is said to be preparing to launch the exchange in the coming months, according to Reuters. The firm aims to tap blockchain to increase the transparency of the gold exchange process, including the clearing and settling of trades. With the news, TradeWind Markets joins companies such as Netagio, itBit and Euroclear as the latest to....