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Tokio Marine tests blockchain data insurance policy for shipping trade

Posted On: Jan. 12, 2017 5:00 AM CST


Japan-based Tokio Marine & Nichido Fire Insurance Co. Ltd. and networking system services provider NTT Data Corp. have started testing a blockchain-based "data insurance policy" for the shipping trade, International Business Times reports. A blockchain-based marine cargo insurance certificate is forwarded to the parties concerned with the trade, along with other key shipping documents such as a bill of lading and commercial invoice. "It is considered impossible to rewrite or alter the data contained within the blockchain, which turns out to be a highly reliable technology for important documents," the insurer said.

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