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AIG tests multinational blockchain insurance pilot

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Insurer American International Group Inc. and U.K.-based Standard Chartered Bank have completed a multinational blockchain pilot which tested a commercial insurance master policy written out of London and applied to local policies in the United States, Kenya and Singapore, Coindesk reported. The pilot recorded and tracked events that could trigger the payment of a policy, while ensuring that no single party was able to change the terms of coverage without consensus from others on the network.

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