Common ways of sustaining centralized data and trust have resulted in fragmented organizations and ineffective technology systems. Nevertheless, in a collective and collaborative economy, trust comes from transparency. It is proposed by blockchain participants with the ability to share an updated account book each time a transaction occurs via peer-to-peer replication.

Blockchain is making its way into all companies around the world for a reason: it’s light, fast, smart, and cheap. It’s time to apply blockchain to insurance, following exciting new and successful advances in other commercial areas, from medicine and logistics to real estate.

In the article, we will discuss what is blockchain, its importance for the insurance industry, its advantages, examples, and use cases. So, let’s dive into the topic!

https://code-care.com/blog/benefits-of-blockchain-in-insurance/